Meridian Investment Counsel Inc. Sells 330 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Meridian Investment Counsel Inc. cut its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 3.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,754 shares of the company’s stock after selling 330 shares during the quarter. Meridian Investment Counsel Inc.’s holdings in L3Harris Technologies were worth $2,082,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. QRG Capital Management Inc. increased its stake in shares of L3Harris Technologies by 6.3% in the first quarter. QRG Capital Management Inc. now owns 2,431 shares of the company’s stock valued at $518,000 after buying an additional 145 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of L3Harris Technologies during the first quarter worth $228,000. Kingsview Wealth Management LLC grew its position in shares of L3Harris Technologies by 9.5% in the 1st quarter. Kingsview Wealth Management LLC now owns 3,687 shares of the company’s stock valued at $786,000 after buying an additional 319 shares during the last quarter. Blair William & Co. IL increased its holdings in L3Harris Technologies by 16.5% in the first quarter. Blair William & Co. IL now owns 30,025 shares of the company’s stock worth $6,398,000 after purchasing an additional 4,245 shares in the last quarter. Finally, Orion Portfolio Solutions LLC lifted its position in shares of L3Harris Technologies by 21.3% during the 1st quarter. Orion Portfolio Solutions LLC now owns 9,389 shares of the company’s stock valued at $2,001,000 after acquiring an additional 1,650 shares during the period. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies Trading Down 0.5 %

Shares of LHX stock opened at $247.00 on Friday. L3Harris Technologies, Inc. has a 52-week low of $184.34 and a 52-week high of $265.74. The company has a 50-day simple moving average of $243.16 and a two-hundred day simple moving average of $232.02. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04. The company has a market capitalization of $46.85 billion, a price-to-earnings ratio of 39.02, a PEG ratio of 2.18 and a beta of 0.72.

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

L3Harris Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend is Monday, November 18th. L3Harris Technologies’s payout ratio is 73.30%.

Insider Activity

In related news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $247.93, for a total value of $740,814.84. Following the sale, the insider now owns 10,340 shares of the company’s stock, valued at approximately $2,563,596.20. The trade was a 22.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold 8,964 shares of company stock valued at $2,179,119 in the last three months. Company insiders own 0.82% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on LHX shares. StockNews.com upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Wolfe Research raised 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. Susquehanna raised their price objective on L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research note on Monday, July 29th. Royal Bank of Canada upped their target price on L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a research report on Monday, October 28th. Finally, Barclays lifted their price target on shares of L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $267.50.

L3Harris Technologies 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.