Mattern Wealth Management LLC Decreases Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Mattern Wealth Management LLC trimmed its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 46.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,912 shares of the company’s stock after selling 5,903 shares during the quarter. Mattern Wealth Management LLC’s holdings in L3Harris Technologies were worth $1,644,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of LHX. Koshinski Asset Management Inc. raised 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 worth $385,000 after buying an additional 42 shares in the last quarter. RFG Advisory LLC boosted its holdings 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 purchasing an additional 43 shares during the last quarter. Optas LLC boosted its holdings in L3Harris Technologies by 3.3% in the second quarter. Optas LLC now owns 1,381 shares of the company’s stock valued at $310,000 after acquiring an additional 44 shares during the last quarter. Founders Financial Securities LLC raised its position in L3Harris Technologies by 2.8% in the second quarter. Founders Financial Securities LLC now owns 1,774 shares of the company’s stock valued at $398,000 after purchasing an additional 48 shares during the period. Finally, Whitener Capital Management Inc. increased its position in shares of L3Harris Technologies by 3.0% during the second quarter. Whitener Capital Management Inc. now owns 1,715 shares of the company’s stock worth $385,000 after acquiring an additional 50 shares during the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Susquehanna boosted their price objective on L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research report on Monday, July 29th. Truist Financial boosted their target price on shares of L3Harris Technologies from $250.00 to $293.00 and gave the company a “buy” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. Morgan Stanley cut shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $275.00 to $257.00 in a report on Friday, August 9th. 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 research report on Thursday, October 10th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, L3Harris Technologies presently has an average rating of “Moderate Buy” and an average price target of $256.71.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $244.68, for a total transaction of $731,103.84. Following the sale, the insider now directly owns 13,328 shares in the company, valued at $3,261,095.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.82% of the company’s stock.

L3Harris Technologies Price Performance

Shares of NYSE:LHX traded down $3.52 during midday trading on Tuesday, reaching $244.63. 121,637 shares of the company were exchanged, compared to its average volume of 908,753. The stock has a market cap of $46.40 billion, a PE ratio of 39.59, a price-to-earnings-growth ratio of 2.08 and a beta of 0.73. The business’s fifty day moving average is $235.50 and its two-hundred day moving average is $226.38. The company has a current ratio of 0.90, a quick ratio of 0.74 and a debt-to-equity ratio of 0.56. L3Harris Technologies, Inc. has a one year low of $169.55 and a one year high of $250.88.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, July 25th. The company reported $3.24 EPS for the quarter, beating the consensus estimate of $3.18 by $0.06. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The firm had revenue of $5.30 billion during the quarter, compared to analyst estimates of $5.30 billion. During the same period last year, the firm posted $2.97 EPS. L3Harris Technologies’s revenue was up 12.9% on a year-over-year basis. As a group, analysts predict that L3Harris Technologies, Inc. will post 13.06 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders 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 dividend yield of 1.90%. L3Harris Technologies’s dividend payout ratio is presently 75.32%.

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.