Meeder Advisory Services Inc. Sells 264 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Meeder Advisory Services Inc. decreased its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 7.9% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 3,069 shares of the company’s stock after selling 264 shares during the period. Meeder Advisory Services Inc.’s holdings in L3Harris Technologies were worth $730,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Richard C. Young & CO. LTD. lifted its holdings in shares of L3Harris Technologies by 1.0% in the third quarter. Richard C. Young & CO. LTD. now owns 68,921 shares of the company’s stock worth $16,394,000 after buying an additional 661 shares in the last quarter. Quest Partners LLC increased its holdings in L3Harris Technologies by 36,000.0% during the 3rd quarter. Quest Partners LLC now owns 361 shares of the company’s stock worth $86,000 after acquiring an additional 360 shares during the period. MAI Capital Management lifted its stake in L3Harris Technologies by 6.4% in the 3rd quarter. MAI Capital Management now owns 28,785 shares of the company’s stock worth $6,847,000 after purchasing an additional 1,732 shares in the last quarter. Aljian Capital Management LLC boosted its holdings in L3Harris Technologies by 12.9% in the 3rd quarter. Aljian Capital Management LLC now owns 7,804 shares of the company’s stock valued at $1,856,000 after purchasing an additional 891 shares during the period. Finally, TrinityPoint Wealth LLC grew its position in shares of L3Harris Technologies by 6.1% during the 3rd quarter. TrinityPoint Wealth LLC now owns 3,126 shares of the company’s stock valued at $744,000 after purchasing an additional 181 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Performance

Shares of LHX stock opened at $243.55 on Wednesday. The company has a market capitalization of $46.19 billion, a P/E ratio of 38.48, a PEG ratio of 2.06 and a beta of 0.72. L3Harris Technologies, Inc. has a fifty-two week low of $184.34 and a fifty-two week high of $265.74. 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 50 day moving average price of $243.77 and a two-hundred day moving average price of $232.74.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, beating the consensus estimate of $3.27 by $0.07. The business had revenue of $5.29 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.19 EPS. Analysts expect 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 will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be issued a dividend of $1.16 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a yield of 1.91%. L3Harris Technologies’s dividend payout ratio is presently 73.30%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Wolfe Research raised L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective for the company in a research note on Thursday, October 10th. Susquehanna upped their price objective on shares of L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Truist Financial increased their price target on shares of L3Harris Technologies from $293.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Finally, StockNews.com raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $267.50.

Insider Buying and Selling at L3Harris Technologies

In related 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 transaction of $740,814.84. Following the completion of the transaction, the insider now owns 10,340 shares in the company, valued at $2,563,596.20. This represents a 22.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 8,964 shares of company stock valued at $2,179,119 in the last 90 days. Insiders own 0.87% 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.