Independent Advisor Alliance Reduces Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Independent Advisor Alliance lessened its stake in shares of L3Harris Technologies, Inc. (NYSE:LHXFree 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

A number of equities analysts recently issued reports on LHX shares. Wells Fargo & Company raised their price target on L3Harris Technologies from $260.00 to $295.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Royal Bank of Canada lifted their target price on L3Harris Technologies from $240.00 to $265.00 and gave the company a “sector perform” rating in a research note on Monday, October 28th. Bank of America upgraded L3Harris Technologies from a “neutral” rating to a “buy” rating and upped their price target for the stock from $240.00 to $300.00 in a research note on Thursday, October 31st. Morgan Stanley cut shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $275.00 to $257.00 in a research note on Friday, August 9th. Finally, Wolfe Research upgraded shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price for the company in a research note on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $267.50.

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:LHXGet 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

(Free Report)

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.

See Also

Want to see what other hedge funds are holding LHX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for L3Harris Technologies, Inc. (NYSE:LHXFree Report).

Institutional Ownership by Quarter for L3Harris Technologies (NYSE:LHX)

Receive News & Ratings for L3Harris Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for L3Harris Technologies and related companies with MarketBeat.com's FREE daily email newsletter.