Independent Advisor Alliance lessened its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX – Free Report) by 3.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,064 shares of the company’s stock after selling 836 shares during the quarter. Independent Advisor Alliance’s holdings in L3Harris Technologies were worth $5,486,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of LHX. Manning & Napier Advisors LLC acquired a new position in L3Harris Technologies in the second quarter valued at $210,886,000. Envestnet Asset Management Inc. boosted its position in shares of L3Harris Technologies by 236.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 989,340 shares of the company’s stock valued at $222,186,000 after purchasing an additional 695,582 shares during the period. Bank of New York Mellon Corp grew its stake in L3Harris Technologies by 19.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,174,181 shares of the company’s stock worth $712,858,000 after buying an additional 523,315 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in L3Harris Technologies by 65.2% during the second quarter. The Manufacturers Life Insurance Company now owns 434,287 shares of the company’s stock worth $97,532,000 after buying an additional 171,420 shares during the period. Finally, International Assets Investment Management LLC increased its holdings in shares of L3Harris Technologies by 23,627.0% in the 3rd quarter. International Assets Investment Management LLC now owns 170,597 shares of the company’s stock valued at $40,580,000 after acquiring an additional 169,878 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.
Insider Activity
In related news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total value of $731,103.84. Following the sale, the insider now owns 13,328 shares of the company’s stock, valued at approximately $3,261,095.04. This represents a 18.31 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 8,964 shares of company stock worth $2,179,119 over the last ninety days. 0.87% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
View Our Latest Stock Report on LHX
L3Harris Technologies Price Performance
Shares of NYSE:LHX opened at $248.16 on Monday. L3Harris Technologies, Inc. has a 12 month low of $187.37 and a 12 month high of $265.74. The firm has a market capitalization of $47.07 billion, a price-to-earnings ratio of 39.20, a price-to-earnings-growth ratio of 2.07 and a beta of 0.72. The business’s 50 day simple moving average is $244.86 and its 200-day simple moving average is $233.39. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87.
L3Harris Technologies (NYSE:LHX – Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, beating analysts’ consensus estimates of $3.27 by $0.07. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The business had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.28 billion. During the same quarter last year, the business posted $3.19 earnings per share. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, equities analysts forecast that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current fiscal year.
L3Harris Technologies Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be issued a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend is Monday, November 18th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 73.30%.
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.
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