L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Plato Investment Management Ltd

Plato Investment Management Ltd lowered its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 3.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,104 shares of the company’s stock after selling 282 shares during the quarter. Plato Investment Management Ltd’s holdings in L3Harris Technologies were worth $1,926,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Empower Advisory Group LLC lifted its holdings in L3Harris Technologies by 2.2% in the third quarter. Empower Advisory Group LLC now owns 361,475 shares of the company’s stock worth $85,984,000 after purchasing an additional 7,848 shares during the period. RPG Investment Advisory LLC lifted its holdings in L3Harris Technologies by 3.2% in the third quarter. RPG Investment Advisory LLC now owns 33,268 shares of the company’s stock worth $7,913,000 after purchasing an additional 1,021 shares during the period. Aptus Capital Advisors LLC lifted its holdings in L3Harris Technologies by 18.0% in the 3rd quarter. Aptus Capital Advisors LLC now owns 2,657 shares of the company’s stock valued at $632,000 after acquiring an additional 405 shares during the last quarter. Commonwealth Retirement Investments LLC lifted its holdings in L3Harris Technologies by 2.0% in the 3rd quarter. Commonwealth Retirement Investments LLC now owns 7,125 shares of the company’s stock valued at $1,695,000 after acquiring an additional 139 shares during the last quarter. Finally, Prime Capital Investment Advisors LLC lifted its holdings in L3Harris Technologies by 132.0% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 4,715 shares of the company’s stock valued at $1,122,000 after acquiring an additional 2,683 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Wolfe Research raised shares of 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. Truist Financial upped their price target 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. Wells Fargo & Company upped their price target 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. Susquehanna upped their price target on shares of L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a report on Monday, July 29th. Finally, Royal Bank of Canada upped their price target on shares of L3Harris Technologies from $240.00 to $265.00 and gave the company a “sector perform” rating in a report on Monday, October 28th. 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 presently has a consensus rating of “Moderate Buy” and an average price target of $267.50.

L3Harris Technologies Price Performance

Shares of LHX opened at $248.16 on Friday. The company has a market capitalization of $47.07 billion, a price-to-earnings ratio of 39.20, a P/E/G ratio of 2.18 and a beta of 0.72. L3Harris Technologies, Inc. has a fifty-two week low of $184.34 and a fifty-two week 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. The business’s 50-day moving average is $242.46 and its 200-day moving average is $231.69.

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

L3Harris Technologies Dividend Announcement

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 $1.16 dividend. The ex-dividend date is Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a yield of 1.87%. L3Harris Technologies’s dividend payout ratio is currently 73.30%.

Insider Buying and Selling

In related news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 13,328 shares in the company, valued at approximately $3,261,095.04. This represents a 18.31 % 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 quarter, insiders have sold 8,964 shares of company stock worth $2,179,119. Insiders own 0.82% of the company’s stock.

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.