L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp cut its position in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 0.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 352,846 shares of the company's stock after selling 3,278 shares during the quarter. King Luther Capital Management Corp owned about 0.19% of L3Harris Technologies worth $83,931,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Meeder Asset Management Inc. grew its stake in L3Harris Technologies by 260.6% in the second quarter. Meeder Asset Management Inc. now owns 119 shares of the company's stock worth $27,000 after purchasing an additional 86 shares in the last quarter. Archer Investment Corp lifted its position in L3Harris Technologies by 48.9% in the third quarter. Archer Investment Corp now owns 131 shares of the company's stock worth $31,000 after purchasing an additional 43 shares during the period. Kennebec Savings Bank bought a new stake in L3Harris Technologies in the third quarter worth about $36,000. EntryPoint Capital LLC grew its holdings in shares of L3Harris Technologies by 70.4% in the 1st quarter. EntryPoint Capital LLC now owns 167 shares of the company's stock worth $36,000 after acquiring an additional 69 shares during the last quarter. Finally, Versant Capital Management Inc grew its holdings in shares of L3Harris Technologies by 77.7% during the second quarter. Versant Capital Management Inc now owns 183 shares of the company's stock valued at $41,000 after buying an additional 80 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the business's stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $236.68, for a total value of $707,199.84. Following the completion of the transaction, the insider now directly owns 16,316 shares of the company's stock, valued at approximately $3,861,670.88. The trade was a 15.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last 90 days, insiders have sold 8,964 shares of company stock valued at $2,179,119. 0.82% of the stock is currently owned by corporate insiders.

L3Harris Technologies Stock Performance

Shares of LHX stock opened at $244.36 on Thursday. L3Harris Technologies, Inc. has a one year low of $185.98 and a one year high of $265.74. The company's 50-day moving average is $244.12 and its 200 day moving average is $232.82. The company has a market capitalization of $46.35 billion, a price-to-earnings ratio of 38.60, a price-to-earnings-growth ratio of 2.03 and a beta of 0.72. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04.

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

L3Harris Technologies Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend is Monday, November 18th. L3Harris Technologies's payout ratio is 73.30%.

Analysts Set New Price Targets

Several analysts have recently issued reports on LHX shares. StockNews.com upgraded L3Harris Technologies from a "hold" rating to a "buy" rating in a research note on Monday, October 28th. Wells Fargo & Company boosted their target price on shares of L3Harris Technologies from $260.00 to $295.00 and gave the company an "overweight" rating in a research note on Monday, October 28th. Royal Bank of Canada boosted their price objective on shares of L3Harris Technologies from $240.00 to $265.00 and gave the stock a "sector perform" rating in a research report on Monday, October 28th. Citigroup increased their price target on L3Harris Technologies from $268.00 to $291.00 and gave the company a "buy" rating in a research note on Thursday, October 10th. Finally, Bank of America upgraded shares of L3Harris Technologies from a "neutral" rating to a "buy" rating and upped their price objective for the company from $240.00 to $300.00 in a research report on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus 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.

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