Horrell Capital Management Inc. Sells 2,980 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Horrell Capital Management Inc. cut its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 10.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,581 shares of the company's stock after selling 2,980 shares during the period. L3Harris Technologies makes up 1.9% of Horrell Capital Management Inc.'s holdings, making the stock its 17th biggest holding. Horrell Capital Management Inc.'s holdings in L3Harris Technologies were worth $6,323,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Wealthcare Advisory Partners LLC bought a new stake in shares of L3Harris Technologies in the first quarter valued at approximately $216,000. Wealth Enhancement Advisory Services LLC boosted its stake in L3Harris Technologies by 18.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 37,204 shares of the company's stock worth $7,928,000 after purchasing an additional 5,877 shares during the period. Founders Financial Securities LLC grew its holdings in L3Harris Technologies by 8.3% during the 1st quarter. Founders Financial Securities LLC now owns 1,726 shares of the company's stock valued at $368,000 after buying an additional 132 shares in the last quarter. Carret Asset Management LLC increased its position in shares of L3Harris Technologies by 1.7% during the first quarter. Carret Asset Management LLC now owns 16,758 shares of the company's stock valued at $3,571,000 after buying an additional 278 shares during the period. Finally, Trust Co. of Oklahoma increased its position in shares of L3Harris Technologies by 30.3% during the first quarter. Trust Co. of Oklahoma now owns 2,500 shares of the company's stock valued at $533,000 after buying an additional 581 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Trading Down 1.2 %

LHX stock traded down $2.96 during trading on Tuesday, reaching $245.07. The company had a trading volume of 684,055 shares, compared to its average volume of 911,238. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.90 and a quick ratio of 0.74. L3Harris Technologies, Inc. has a 52 week low of $172.30 and a 52 week high of $258.89. The business has a 50 day moving average of $237.43 and a 200 day moving average of $227.82. The company has a market cap of $46.49 billion, a P/E ratio of 40.26, a PEG ratio of 2.10 and a beta of 0.73.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its earnings results on Thursday, October 24th. The company reported $3.34 EPS for the quarter, beating analysts' consensus estimates of $3.27 by $0.07. The company had revenue of $5.29 billion during the quarter, compared to analysts' expectations of $5.28 billion. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The firm's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter last year, the business posted $3.19 EPS. As a group, sell-side analysts forecast that L3Harris Technologies, Inc. will post 13.06 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be given a dividend of $1.16 per share. The ex-dividend date is Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a yield of 1.89%. L3Harris Technologies's dividend payout ratio (DPR) is currently 75.32%.

Analyst Ratings Changes

LHX has been the subject of a number of recent analyst reports. Barclays boosted their price target on shares of L3Harris Technologies from $245.00 to $265.00 and gave the company an "overweight" rating in a research report on Tuesday, July 30th. Wolfe Research upgraded 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. Truist Financial raised their price target on L3Harris Technologies from $293.00 to $300.00 and gave the company a "buy" rating in a report on Monday. StockNews.com upgraded L3Harris Technologies from a "hold" rating to a "buy" rating in a research report on Monday. Finally, Royal Bank of Canada increased their target price on shares of L3Harris Technologies from $240.00 to $265.00 and gave the company a "sector perform" rating in a report on Monday. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $261.50.

Insider Buying and Selling

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 sale, the insider now directly owns 13,328 shares of the company's stock, valued at approximately $3,261,095.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.82% of the stock is currently owned by insiders.

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.