National Bank of Canada FI Sells 137,231 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

National Bank of Canada FI reduced its holdings in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 53.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,517 shares of the company's stock after selling 137,231 shares during the quarter. National Bank of Canada FI owned 0.06% of L3Harris Technologies worth $28,192,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in LHX. Bank of New York Mellon Corp lifted its position in shares of L3Harris Technologies by 19.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,174,181 shares of the company's stock valued at $712,858,000 after acquiring an additional 523,315 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of L3Harris Technologies by 1.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,039,832 shares of the company's stock valued at $485,215,000 after purchasing an additional 27,763 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of L3Harris Technologies by 5.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,542,333 shares of the company's stock valued at $366,875,000 after purchasing an additional 85,882 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its position in shares of L3Harris Technologies by 2.2% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 1,489,129 shares of the company's stock valued at $334,429,000 after purchasing an additional 31,686 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in L3Harris Technologies by 12.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,405,337 shares of the company's stock worth $315,611,000 after purchasing an additional 156,453 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

L3Harris Technologies Stock Performance

Shares of NYSE:LHX traded up $0.75 during midday trading on Tuesday, hitting $230.51. The company's stock had a trading volume of 911,800 shares, compared to its average volume of 909,993. The stock has a market capitalization of $43.72 billion, a price-to-earnings ratio of 36.44, a PEG ratio of 1.96 and a beta of 0.72. The stock's 50 day simple moving average is $246.53 and its 200 day simple moving average is $234.82. 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, Inc. has a fifty-two week low of $196.42 and a fifty-two week high of $265.74.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The company reported $3.34 EPS for the quarter, beating analysts' consensus estimates 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 net margin of 5.71% and a return on equity of 13.11%. The firm's revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.19 earnings per share. As a group, research analysts anticipate that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Monday, November 18th were issued a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 2.01%. The ex-dividend date was Monday, November 18th. L3Harris Technologies's dividend payout ratio (DPR) is presently 73.30%.

Analyst Ratings Changes

Several brokerages have commented on LHX. Bank of America upgraded shares of L3Harris Technologies from a "neutral" rating to a "buy" rating and raised their target price for the stock from $240.00 to $300.00 in a report 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. Wolfe Research raised shares of L3Harris Technologies from a "peer perform" rating to an "outperform" rating and set a $300.00 target price on the stock in a research note on Thursday, October 10th. Royal Bank of Canada raised their target price 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. Finally, Argus upgraded L3Harris Technologies from a "hold" rating to a "buy" rating and set a $300.00 price target on the stock in a report on Tuesday, November 26th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $269.67.

Insider Activity

In other news, insider Ross Niebergall sold 2,988 shares of the company's 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 represents a 22.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 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.