Chartwell Investment Partners LLC Cuts Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Chartwell Investment Partners LLC cut its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 9.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 21,787 shares of the company’s stock after selling 2,169 shares during the quarter. Chartwell Investment Partners LLC’s holdings in L3Harris Technologies were worth $5,182,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Koshinski Asset Management Inc. increased 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 valued at $385,000 after buying an additional 42 shares during the period. RFG Advisory LLC grew its stake in shares of L3Harris Technologies by 3.1% during the second quarter. RFG Advisory LLC now owns 1,416 shares of the company’s stock worth $318,000 after acquiring an additional 43 shares during the last quarter. Blossom Wealth Management lifted its holdings 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 worth $604,000 after purchasing an additional 43 shares during the period. Nicholas Hoffman & Company LLC. lifted its holdings in shares of L3Harris Technologies by 3.3% during 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 period. Finally, Optas LLC lifted its holdings in shares of L3Harris Technologies by 3.3% during the second quarter. Optas LLC now owns 1,381 shares of the company’s stock worth $310,000 after purchasing an additional 44 shares during the period. 84.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Susquehanna upped their target price on L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research note on Monday, July 29th. Bank of America upgraded L3Harris Technologies from a “neutral” rating to a “buy” rating and upped their target price for the company from $240.00 to $300.00 in a report on Thursday, October 31st. Truist Financial upped their target price on L3Harris Technologies from $293.00 to $300.00 and gave the company a “buy” rating in a report on Monday, October 28th. Royal Bank of Canada upped their price target on L3Harris Technologies from $240.00 to $265.00 and gave the company a “sector perform” rating in a research note on Monday, October 28th. Finally, Wells Fargo & Company increased their target price on L3Harris Technologies from $260.00 to $295.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $267.50.

L3Harris Technologies Stock Up 1.4 %

LHX opened at $264.25 on Tuesday. The business has a 50 day simple moving average of $240.87 and a 200-day simple moving average of $230.75. The stock has a market capitalization of $50.12 billion, a P/E ratio of 41.75, a P/E/G ratio of 2.17 and a beta of 0.72. L3Harris Technologies, Inc. has a 12 month low of $182.01 and a 12 month high of $265.74. 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 issued its quarterly earnings data on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.27 by $0.07. The firm had revenue of $5.29 billion during the quarter, compared to analysts’ expectations 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 in the previous year, the firm posted $3.19 earnings per share. On average, equities analysts anticipate that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be issued a dividend of $1.16 per share. The ex-dividend date is Monday, November 18th. This represents a $4.64 annualized dividend and a yield of 1.76%. L3Harris Technologies’s dividend payout ratio is presently 73.30%.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $247.93, for a total transaction of $740,814.84. Following the completion of the transaction, the insider now owns 10,340 shares of the company’s stock, valued at approximately $2,563,596.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Over the last 90 days, insiders sold 8,964 shares of company stock valued at $2,179,119. Corporate 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.