L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by State Street Corp

State Street Corp decreased its position in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 1.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,614,778 shares of the company's stock after selling 84,097 shares during the period. State Street Corp owned 4.54% of L3Harris Technologies worth $2,049,197,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of LHX. Park Avenue Securities LLC increased its position in shares of L3Harris Technologies by 9.7% in the 2nd quarter. Park Avenue Securities LLC now owns 5,350 shares of the company's stock valued at $1,202,000 after acquiring an additional 472 shares during the period. Simplicity Wealth LLC increased its position in shares of 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 acquiring an additional 94 shares during the period. Capital Investment Advisors LLC increased its position in shares of L3Harris Technologies by 5.1% in 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. increased its position in shares of L3Harris Technologies by 3.4% in the 2nd quarter. QRG Capital Management Inc. now owns 2,514 shares of the company's stock valued at $565,000 after acquiring an additional 83 shares during the period. Finally, Gateway Investment Advisers LLC acquired a new position in shares of L3Harris Technologies in the 2nd quarter valued at $203,000. Hedge funds and other institutional investors own 84.76% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. StockNews.com raised L3Harris Technologies from a "hold" rating to a "buy" rating in a research report on Monday, October 28th. Royal Bank of Canada upped their price target on shares of L3Harris Technologies from $240.00 to $265.00 and gave the company a "sector perform" rating in a report 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 price target on the stock in a report on Thursday, October 10th. Morgan Stanley lowered shares of L3Harris Technologies from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $275.00 to $257.00 in a report on Friday, August 9th. Finally, Argus raised shares of 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 given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $269.67.

L3Harris Technologies Price Performance

Shares of LHX stock traded down $3.50 during mid-day trading on Friday, hitting $234.64. 1,470,153 shares of the stock were exchanged, compared to its average volume of 824,430. L3Harris Technologies, Inc. has a 52-week low of $193.34 and a 52-week high of $265.74. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The firm has a fifty day moving average of $246.69 and a 200 day moving average of $234.70. The company has a market cap of $44.50 billion, a PE ratio of 37.07, a price-to-earnings-growth ratio of 2.01 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly 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 firm had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.28 billion. During the same quarter in the prior year, the firm earned $3.19 EPS. The company's revenue for the quarter was up 7.7% on a year-over-year basis. 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 declared a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Monday, November 18th were given a dividend of $1.16 per share. The ex-dividend date was Monday, November 18th. This represents a $4.64 annualized dividend and a dividend yield of 1.98%. L3Harris Technologies's dividend payout ratio (DPR) is presently 73.30%.

Insider Buying and Selling

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $247.93, for a total value of $740,814.84. Following the completion of the sale, the insider now 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 legal filing with the Securities & Exchange Commission, which is accessible 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.