Mattern Capital Management LLC Reduces Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Mattern Capital Management LLC cut its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 0.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 39,064 shares of the company’s stock after selling 46 shares during the quarter. Mattern Capital Management LLC’s holdings in L3Harris Technologies were worth $9,292,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Modera Wealth Management LLC increased its holdings in L3Harris Technologies by 2.9% during the 3rd quarter. Modera Wealth Management LLC now owns 6,666 shares of the company’s stock worth $1,586,000 after purchasing an additional 190 shares during the last quarter. GHP Investment Advisors Inc. increased its holdings in shares of L3Harris Technologies by 1.5% in the 3rd quarter. GHP Investment Advisors Inc. now owns 29,450 shares of the company’s stock valued at $7,005,000 after acquiring an additional 442 shares during the last quarter. NorthCrest Asset Manangement LLC increased its holdings in shares of L3Harris Technologies by 3.1% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 60,162 shares of the company’s stock valued at $14,311,000 after acquiring an additional 1,821 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of L3Harris Technologies by 38.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,622 shares of the company’s stock valued at $2,966,000 after acquiring an additional 3,521 shares during the last quarter. Finally, BKM Wealth Management LLC increased its holdings in shares of L3Harris Technologies by 5.2% in the 3rd quarter. BKM Wealth Management LLC now owns 6,663 shares of the company’s stock valued at $1,585,000 after acquiring an additional 328 shares during the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

L3Harris Technologies Trading Up 3.5 %

Shares of LHX stock opened at $252.81 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.74 and a current ratio of 0.90. L3Harris Technologies, Inc. has a 1 year low of $169.55 and a 1 year high of $258.89. The stock has a fifty day moving average of $237.08 and a two-hundred day moving average of $227.34. The firm has a market capitalization of $47.96 billion, a PE ratio of 40.45, a price-to-earnings-growth ratio of 2.10 and a beta of 0.73.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.27 by $0.07. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The company had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.28 billion. During the same quarter in the previous year, the firm posted $3.19 EPS. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. As a group, research analysts expect that L3Harris Technologies, Inc. will post 13.06 EPS for the current year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be issued a $1.16 dividend. The ex-dividend date is Monday, November 18th. This represents a $4.64 annualized dividend and a dividend yield of 1.84%. L3Harris Technologies’s dividend payout ratio (DPR) is 74.24%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on LHX shares. Wolfe Research upgraded L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target for the company in a report on Thursday, October 10th. Morgan Stanley downgraded L3Harris Technologies from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $275.00 to $257.00 in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft lowered their price target on L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. Royal Bank of Canada lowered L3Harris Technologies from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $250.00 to $240.00 in a research report on Wednesday, August 14th. Finally, Wells Fargo & Company reduced their price objective on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $256.71.

Insider Activity

In other news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total value of $731,103.84. Following the completion of the sale, the insider now owns 13,328 shares in the company, valued at $3,261,095.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.82% of the company’s stock.

About L3Harris Technologies

L3Harris Technologies, Inc provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides intelligence, surveillance, and reconnaissance (ISR) systems, passive sensing and targeting, electronic attack, autonomy, power and communications, and networks and sensors, as well as advanced combat systems for air, land, and sea sectors.