Keudell Morrison Wealth Management Sells 64 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Keudell Morrison Wealth Management cut its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 1.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,376 shares of the company’s stock after selling 64 shares during the period. Keudell Morrison Wealth Management’s holdings in L3Harris Technologies were worth $1,041,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Koshinski Asset Management Inc. lifted its stake in shares of L3Harris Technologies by 2.7% during the third quarter. Koshinski Asset Management Inc. now owns 1,620 shares of the company’s stock worth $385,000 after buying an additional 42 shares during the period. RFG Advisory LLC lifted its position in L3Harris Technologies by 3.1% during the second 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 period. Blossom Wealth Management lifted its position in 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 during the period. Nicholas Hoffman & Company LLC. lifted its position in L3Harris Technologies by 3.3% during the third quarter. Nicholas Hoffman & Company LLC. now owns 1,353 shares of the company’s stock valued at $322,000 after purchasing an additional 43 shares during the period. Finally, Optas LLC lifted its position in L3Harris Technologies by 3.3% during the second quarter. Optas LLC now owns 1,381 shares of the company’s stock valued at $310,000 after purchasing an additional 44 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Analysts Set New Price Targets

LHX has been the subject of a number of research reports. Royal Bank of Canada boosted their target price on shares of L3Harris Technologies from $240.00 to $265.00 and gave the company a “sector perform” rating in a research report on Monday, October 28th. Wells Fargo & Company lifted their price objective on shares of L3Harris Technologies from $260.00 to $295.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Truist Financial lifted their price objective on shares of L3Harris Technologies from $293.00 to $300.00 and gave the company a “buy” rating in a report on Monday, October 28th. Citigroup lifted their price objective on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, Wolfe Research raised shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective for the company in a report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, L3Harris Technologies has an average rating of “Moderate Buy” and an average price target of $267.50.

Insider Transactions at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $244.68, for a total value of $731,103.84. Following the transaction, the insider now directly owns 13,328 shares in the company, valued at approximately $3,261,095.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders have sold 8,964 shares of company stock worth $2,179,119. 0.87% of the stock is currently owned by insiders.

L3Harris Technologies Trading Down 0.4 %

NYSE:LHX traded down $1.14 on Thursday, hitting $255.31. The stock had a trading volume of 51,020 shares, compared to its average volume of 905,548. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The stock has a market cap of $48.42 billion, a price-to-earnings ratio of 40.51, a PEG ratio of 2.06 and a beta of 0.72. The company has a fifty day moving average price of $239.97 and a two-hundred day moving average price of $229.89. L3Harris Technologies, Inc. has a 1-year low of $179.56 and a 1-year high of $260.00.

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

L3Harris Technologies Announces Dividend

The business 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 of this dividend is Monday, November 18th. This represents a $4.64 annualized dividend and a dividend yield of 1.82%. L3Harris Technologies’s dividend payout ratio is currently 73.30%.

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.