Gold Investment Management Ltd. Lowers Position in L3Harris Technologies, Inc. (NYSE:LHX)

Gold Investment Management Ltd. decreased its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 21.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 665 shares of the company’s stock after selling 187 shares during the period. Gold Investment Management Ltd.’s holdings in L3Harris Technologies were worth $158,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Koshinski Asset Management Inc. grew its stake in shares of L3Harris Technologies by 2.7% during the 3rd quarter. Koshinski Asset Management Inc. now owns 1,620 shares of the company’s stock valued at $385,000 after acquiring an additional 42 shares during the period. RFG Advisory LLC boosted its holdings in shares of L3Harris Technologies by 3.1% during the 2nd quarter. RFG Advisory LLC now owns 1,416 shares of the company’s stock valued at $318,000 after purchasing an additional 43 shares during the last quarter. Blossom Wealth Management grew its position in shares of L3Harris Technologies by 1.7% during the third quarter. Blossom Wealth Management now owns 2,538 shares of the company’s stock valued at $604,000 after purchasing an additional 43 shares in the last quarter. Nicholas Hoffman & Company LLC. increased its holdings in shares of L3Harris Technologies by 3.3% in the third quarter. Nicholas Hoffman & Company LLC. now owns 1,353 shares of the company’s stock worth $322,000 after purchasing an additional 43 shares during the last quarter. Finally, Optas LLC lifted its position in shares of L3Harris Technologies by 3.3% in the second quarter. Optas LLC now owns 1,381 shares of the company’s stock worth $310,000 after buying an additional 44 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Activity at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $247.93, for a total transaction of $740,814.84. Following the sale, the insider now directly owns 10,340 shares of the company’s stock, valued at $2,563,596.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 8,964 shares of company stock worth $2,179,119 in the last three months. Company insiders own 0.87% of the company’s stock.

Wall Street Analysts Forecast Growth

LHX has been the topic of a number of research reports. Wells Fargo & Company lifted their price objective on L3Harris Technologies from $260.00 to $295.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Wolfe Research raised shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target on the stock in a research note on Thursday, October 10th. Barclays lifted their price objective on shares of L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Morgan Stanley cut shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $275.00 to $257.00 in a research report on Friday, August 9th. Finally, Truist Financial lifted their price target on L3Harris Technologies from $293.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, L3Harris Technologies currently has an average rating of “Moderate Buy” and an average target price of $267.50.

L3Harris Technologies Stock Down 0.6 %

Shares of NYSE:LHX traded down $1.64 during trading hours on Friday, hitting $254.81. The company’s stock had a trading volume of 649,272 shares, compared to its average volume of 908,318. The firm’s fifty day moving average price is $239.97 and its 200 day moving average price is $229.89. L3Harris Technologies, Inc. has a 52 week low of $179.56 and a 52 week high of $260.00. The company has a market capitalization of $48.33 billion, a price-to-earnings ratio of 40.25, a P/E/G ratio of 2.06 and a beta of 0.72. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, beating the consensus estimate of $3.27 by $0.07. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The business had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.28 billion. During the same quarter in the previous year, the business earned $3.19 EPS. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. As a group, research analysts expect that L3Harris Technologies, Inc. will post 13.09 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be given a $1.16 dividend. The ex-dividend date is Monday, November 18th. This represents a $4.64 annualized dividend and a yield of 1.82%. L3Harris Technologies’s dividend payout ratio is presently 73.30%.

L3Harris Technologies Company Profile

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.