Empowered Funds LLC Sells 452 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Empowered Funds LLC decreased its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 2.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 15,883 shares of the company’s stock after selling 452 shares during the period. Empowered Funds LLC’s holdings in L3Harris Technologies were worth $3,778,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC raised its stake in shares of L3Harris Technologies by 17.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 43,838 shares of the company’s stock worth $9,845,000 after acquiring an additional 6,634 shares during the last quarter. Edgestream Partners L.P. raised its position in L3Harris Technologies by 151.6% in the 1st quarter. Edgestream Partners L.P. now owns 3,859 shares of the company’s stock worth $822,000 after purchasing an additional 2,325 shares during the last quarter. Creative Planning lifted its holdings in L3Harris Technologies by 1.2% during the 3rd quarter. Creative Planning now owns 41,588 shares of the company’s stock worth $9,893,000 after buying an additional 512 shares in the last quarter. Manning & Napier Advisors LLC bought a new position in L3Harris Technologies in the 2nd quarter valued at $210,886,000. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of L3Harris Technologies in the 3rd quarter valued at $35,904,000. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Trading Down 0.6 %

NYSE:LHX opened at $244.27 on Tuesday. 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 simple moving average is $243.46 and its 200-day simple moving average is $232.52. L3Harris Technologies, Inc. has a fifty-two week low of $184.34 and a fifty-two week high of $265.74. The stock has a market capitalization of $46.33 billion, a PE ratio of 38.59, a price-to-earnings-growth ratio of 2.06 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, beating 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 company had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.28 billion. During the same quarter in the prior year, the company earned $3.19 earnings per share. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. Sell-side analysts expect that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently declared 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 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend is Monday, November 18th. L3Harris Technologies’s dividend 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 Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total value of $731,103.84. Following the sale, the insider now owns 13,328 shares of the company’s stock, valued at approximately $3,261,095.04. This trade represents a 18.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 8,964 shares of company stock worth $2,179,119 over the last three months. Corporate insiders own 0.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Susquehanna upped their price target on L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research note on Monday, July 29th. Bank of America raised shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and raised their target price for the company from $240.00 to $300.00 in a research note on Thursday, October 31st. StockNews.com raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. Finally, Truist Financial upped their target price on shares of L3Harris Technologies from $293.00 to $300.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Four research 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 has an average rating of “Moderate Buy” and an average target price of $267.50.

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.