Wellington Management Group LLP Trims Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Wellington Management Group LLP lessened its holdings in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 2.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,812,668 shares of the company's stock after selling 98,772 shares during the quarter. Wellington Management Group LLP owned 2.54% of L3Harris Technologies worth $1,144,789,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Park Avenue Securities LLC increased its stake in shares of L3Harris Technologies by 9.7% in the second quarter. Park Avenue Securities LLC now owns 5,350 shares of the company's stock worth $1,202,000 after purchasing an additional 472 shares in the last quarter. Simplicity Wealth LLC grew its stake in L3Harris Technologies by 3.5% in the 2nd quarter. Simplicity Wealth LLC now owns 2,796 shares of the company's stock valued at $628,000 after buying an additional 94 shares in the last quarter. Capital Investment Advisors LLC raised its holdings in L3Harris Technologies by 5.1% during the 2nd quarter. Capital Investment Advisors LLC now owns 5,483 shares of the company's stock valued at $1,231,000 after acquiring an additional 267 shares during the period. QRG Capital Management Inc. lifted its position in shares of L3Harris Technologies by 3.4% during the second quarter. QRG Capital Management Inc. now owns 2,514 shares of the company's stock worth $565,000 after acquiring an additional 83 shares in the last quarter. Finally, Gateway Investment Advisers LLC bought a new position in shares of L3Harris Technologies in the second quarter worth $203,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Morgan Stanley cut 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 research report on Friday, August 9th. Argus raised shares of L3Harris Technologies from a "hold" rating to a "buy" rating and set a $300.00 target price on the stock in a report on Tuesday, November 26th. Deutsche Bank Aktiengesellschaft cut their price target 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. StockNews.com raised shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a report on Monday, October 28th. Finally, Royal Bank of Canada increased their price objective on L3Harris Technologies from $240.00 to $265.00 and gave the stock a "sector perform" rating in a research report on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, L3Harris Technologies presently has an average rating of "Moderate Buy" and an average target price of $269.67.

L3Harris Technologies Price Performance

Shares of LHX stock traded down $3.50 during trading hours on Friday, hitting $234.64. 1,470,153 shares of the company's stock were exchanged, compared to its average volume of 824,430. The company has a market capitalization of $44.50 billion, a PE ratio of 37.07, a PEG ratio of 2.01 and a beta of 0.72. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58. L3Harris Technologies, Inc. has a 12-month low of $193.34 and a 12-month high of $265.74. The business's 50 day simple moving average is $246.69 and its 200-day simple moving average is $234.70.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its earnings results on Thursday, October 24th. The company reported $3.34 EPS 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 company had revenue of $5.29 billion for the quarter, compared to analysts' expectations of $5.28 billion. During the same quarter last year, the company earned $3.19 EPS. The firm's revenue was up 7.7% compared to the same quarter last year. On average, equities research analysts anticipate that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Monday, November 18th were given a $1.16 dividend. The ex-dividend date was Monday, November 18th. This represents a $4.64 annualized dividend and a yield of 1.98%. L3Harris Technologies's payout ratio is currently 73.30%.

Insider Activity

In other news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $247.93, for a total value of $740,814.84. Following the sale, the insider now directly owns 10,340 shares in the company, valued at approximately $2,563,596.20. This trade represents a 22.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.