LaFleur & Godfrey LLC Lowers Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

LaFleur & Godfrey LLC lessened its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 3.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,926 shares of the company’s stock after selling 630 shares during the period. LaFleur & Godfrey LLC’s holdings in L3Harris Technologies were worth $4,026,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC increased its stake in L3Harris Technologies by 17.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 43,838 shares of the company’s stock valued at $9,845,000 after acquiring an additional 6,634 shares during the last quarter. Edgestream Partners L.P. raised its holdings in shares of L3Harris Technologies by 151.6% during the 1st quarter. Edgestream Partners L.P. now owns 3,859 shares of the company’s stock valued at $822,000 after buying an additional 2,325 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in L3Harris Technologies by 35.1% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 35,953 shares of the company’s stock worth $7,661,000 after buying an additional 9,341 shares during the last quarter. &PARTNERS purchased a new stake in L3Harris Technologies in the first quarter worth approximately $299,000. Finally, Mutual Advisors LLC boosted its stake in L3Harris Technologies by 88.7% in the first quarter. Mutual Advisors LLC now owns 8,576 shares of the company’s stock worth $1,827,000 after buying an additional 4,031 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on LHX. Wolfe Research raised shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target for the company in a research note on Thursday, October 10th. Susquehanna boosted their target price on L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research note on Monday, July 29th. Royal Bank of Canada cut L3Harris Technologies from an “outperform” rating to a “sector perform” rating and dropped their target price for the company from $250.00 to $240.00 in a report on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft decreased their price target on L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. Finally, Wells Fargo & Company dropped their price objective on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $253.64.

Insider Buying and Selling

In other news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $236.68, for a total value of $707,199.84. Following the completion of the transaction, the insider now owns 16,316 shares of the company’s stock, valued at $3,861,670.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.82% of the stock is currently owned by insiders.

L3Harris Technologies Stock Performance

NYSE:LHX traded up $1.26 during mid-day trading on Wednesday, reaching $246.56. The company’s stock had a trading volume of 93,767 shares, compared to its average volume of 914,909. The company has a current ratio of 0.90, a quick ratio of 0.74 and a debt-to-equity ratio of 0.56. The stock has a market cap of $46.77 billion, a P/E ratio of 39.82, a PEG ratio of 2.08 and a beta of 0.73. The firm’s fifty day moving average price is $233.93 and its two-hundred day moving average price is $225.21. L3Harris Technologies, Inc. has a 12-month low of $169.55 and a 12-month high of $249.00.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, July 25th. The company reported $3.24 earnings per share for the quarter, beating analysts’ consensus estimates of $3.18 by $0.06. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The business had revenue of $5.30 billion during the quarter, compared to analyst estimates of $5.30 billion. During the same period in the previous year, the business earned $2.97 EPS. The company’s quarterly revenue was up 12.9% compared to the same quarter last year. On average, equities analysts forecast that L3Harris Technologies, Inc. will post 13.06 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were paid a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend was Friday, September 6th. L3Harris Technologies’s dividend payout ratio (DPR) is 75.32%.

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.