Charles Schwab Investment Management Inc. Has $280 Million Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Charles Schwab Investment Management Inc. cut its holdings in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 8.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,177,128 shares of the company's stock after selling 111,609 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.62% of L3Harris Technologies worth $280,003,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LHX. OneDigital Investment Advisors LLC boosted its stake in shares of L3Harris Technologies by 0.5% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 7,915 shares of the company's stock valued at $1,883,000 after purchasing an additional 40 shares in the last quarter. Koshinski Asset Management Inc. boosted its position in L3Harris Technologies by 2.7% in 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 in the last quarter. 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 buying an additional 43 shares during the last quarter. Blossom Wealth Management increased 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 buying an additional 43 shares in the last quarter. Finally, Nicholas Hoffman & Company LLC. lifted its stake in shares of L3Harris Technologies by 3.3% in the 3rd quarter. Nicholas Hoffman & Company LLC. now owns 1,353 shares of the company's stock valued at $322,000 after acquiring an additional 43 shares during the last quarter. Institutional investors own 84.76% of the company's stock.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $248.16 on Friday. The firm has a market capitalization of $47.07 billion, a P/E ratio of 39.20, a P/E/G ratio of 2.03 and a beta of 0.72. L3Harris Technologies, Inc. has a twelve month low of $187.37 and a twelve month high of $265.74. The company has a fifty day moving average of $244.86 and a 200-day moving average of $233.15. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted 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. The firm had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.28 billion. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The business's revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.19 earnings per share. As a group, sell-side analysts anticipate that L3Harris Technologies, Inc. will post 13.09 EPS for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend is Monday, November 18th. L3Harris Technologies's payout ratio is presently 73.30%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on LHX. Susquehanna upped their target price on L3Harris Technologies from $260.00 to $270.00 and gave the stock a "positive" rating in a report on Monday, July 29th. Wells Fargo & Company lifted their target price on shares of L3Harris Technologies from $260.00 to $295.00 and gave the stock an "overweight" rating in a research report on Monday, October 28th. Citigroup upped their price target on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a "buy" rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft cut their price target on shares of L3Harris Technologies from $252.00 to $250.00 and set a "hold" rating on the stock in a report on Thursday, October 3rd. Finally, Truist Financial increased their price objective on L3Harris Technologies from $293.00 to $300.00 and gave the company a "buy" rating in a report on Monday, October 28th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, L3Harris Technologies presently has an average rating of "Moderate Buy" and a consensus price target of $267.50.

Insider Buying and Selling at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of the 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 completion of 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 Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders have sold 8,964 shares of company stock worth $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.

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