Moors & Cabot Inc. Sells 3,948 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Moors & Cabot Inc. reduced its holdings in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 16.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,378 shares of the company's stock after selling 3,948 shares during the quarter. Moors & Cabot Inc.'s holdings in L3Harris Technologies were worth $4,609,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. OneDigital Investment Advisors LLC grew its position in L3Harris Technologies by 0.5% during the third quarter. OneDigital Investment Advisors LLC now owns 7,915 shares of the company's stock valued at $1,883,000 after acquiring an additional 40 shares during the period. Koshinski Asset Management Inc. grew its holdings 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 purchasing an additional 42 shares during the period. RFG Advisory LLC increased its position in L3Harris Technologies by 3.1% during the 2nd quarter. RFG Advisory LLC now owns 1,416 shares of the company's stock worth $318,000 after purchasing an additional 43 shares in the last quarter. Blossom Wealth Management lifted its position in L3Harris Technologies by 1.7% during the third quarter. Blossom Wealth Management now owns 2,538 shares of the company's stock valued at $604,000 after buying an additional 43 shares in the last quarter. Finally, Nicholas Hoffman & Company LLC. grew its stake in L3Harris Technologies by 3.3% during the third quarter. Nicholas Hoffman & Company LLC. now owns 1,353 shares of the company's stock worth $322,000 after buying an additional 43 shares during the period. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

L3Harris Technologies Stock Performance

LHX stock traded up $0.78 on Wednesday, reaching $244.36. The company's stock had a trading volume of 684,067 shares, compared to its average volume of 910,499. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87. L3Harris Technologies, Inc. has a 52 week low of $185.98 and a 52 week high of $265.74. The firm has a fifty day moving average of $244.12 and a two-hundred day moving average of $232.82. The company has a market capitalization of $46.35 billion, a P/E ratio of 38.60, a price-to-earnings-growth ratio of 2.06 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.28 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The company's revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.19 earnings per share. As a group, analysts predict that L3Harris Technologies, Inc. will post 13.09 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be issued a dividend of $1.16 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.64 annualized dividend and a yield of 1.90%. L3Harris Technologies's payout ratio is presently 73.30%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on LHX. Deutsche Bank Aktiengesellschaft reduced their target price 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. 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 price target on L3Harris Technologies from $260.00 to $295.00 and gave the stock an "overweight" rating in a research report on Monday, October 28th. Barclays lifted their price objective on shares of L3Harris Technologies from $245.00 to $265.00 and gave the company an "overweight" rating in a research note on Tuesday, July 30th. Finally, Susquehanna upped their price objective on shares of L3Harris Technologies from $260.00 to $270.00 and gave the company a "positive" rating in a research report on Monday, July 29th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $267.50.

Insider Buying and Selling

In other news, insider Ross Niebergall sold 2,988 shares of the company's stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total value of $731,103.84. Following the transaction, the insider now owns 13,328 shares in the company, valued at $3,261,095.04. This represents a 18.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders sold 8,964 shares of company stock valued at $2,179,119. Company insiders own 0.87% of the company's stock.

L3Harris Technologies Company 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.