Portfolio Design Labs LLC Decreases Position in L3Harris Technologies, Inc. (NYSE:LHX)

Portfolio Design Labs LLC cut its stake in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 58.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,862 shares of the company's stock after selling 8,116 shares during the period. Portfolio Design Labs LLC's holdings in L3Harris Technologies were worth $1,394,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Meeder Asset Management Inc. boosted its stake in L3Harris Technologies by 260.6% in the 2nd 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 boosted its stake in L3Harris Technologies by 48.9% in the 3rd quarter. Archer Investment Corp now owns 131 shares of the company's stock worth $31,000 after purchasing an additional 43 shares in the last quarter. EntryPoint Capital LLC raised its position in L3Harris Technologies by 70.4% during the 1st quarter. EntryPoint Capital LLC now owns 167 shares of the company's stock worth $36,000 after buying an additional 69 shares during the last quarter. Kennebec Savings Bank purchased a new position in L3Harris Technologies during the 3rd quarter worth approximately $36,000. Finally, Versant Capital Management Inc raised its position in L3Harris Technologies by 77.7% during the 2nd quarter. Versant Capital Management Inc now owns 183 shares of the company's stock worth $41,000 after buying an additional 80 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies 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 transaction of $731,103.84. Following the sale, 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 through this link. Over the last quarter, insiders have sold 8,964 shares of company stock valued at $2,179,119. 0.87% of the stock is currently owned by corporate insiders.

L3Harris Technologies Trading Up 0.3 %

Shares of LHX stock traded up $0.78 on Wednesday, hitting $244.36. 684,067 shares of the stock traded hands, compared to its average volume of 910,499. The firm's 50-day moving average price is $243.77 and its two-hundred day moving average price is $232.74. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04. The stock has a market capitalization of $46.35 billion, a PE ratio of 38.28, a PEG ratio of 2.06 and a beta of 0.72. L3Harris Technologies, Inc. has a twelve month low of $185.98 and a twelve month high of $265.74.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its earnings results on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $5.28 billion. During the same quarter last year, the firm posted $3.19 earnings per share. L3Harris Technologies's revenue was up 7.7% compared to the same quarter last year. As a group, analysts anticipate that L3Harris Technologies, Inc. will post 13.09 EPS for the current year.

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be issued a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date is Monday, November 18th. L3Harris Technologies's dividend payout ratio (DPR) is 73.30%.

Wall Street Analyst Weigh In

LHX has been the subject of several recent research reports. StockNews.com raised shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a report on Monday, October 28th. Barclays lifted their target price on shares of L3Harris Technologies from $245.00 to $265.00 and gave the company an "overweight" rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft cut their target price 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. Bank of America raised shares of L3Harris Technologies from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $240.00 to $300.00 in a report on Thursday, October 31st. Finally, Royal Bank of Canada boosted their price target on shares of L3Harris Technologies from $240.00 to $265.00 and gave the stock a "sector perform" rating in a report on Monday, October 28th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target 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.