Moody Lynn & Lieberson LLC Sells 381 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Moody Lynn & Lieberson LLC lessened its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 5.4% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 6,732 shares of the company’s stock after selling 381 shares during the period. Moody Lynn & Lieberson LLC’s holdings in L3Harris Technologies were worth $1,601,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in LHX. Meeder Asset Management Inc. lifted its stake in shares of L3Harris Technologies by 260.6% in the second quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock valued at $27,000 after buying an additional 86 shares during the period. EntryPoint Capital LLC lifted its stake in shares of L3Harris Technologies by 70.4% in the first quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock valued at $36,000 after buying an additional 69 shares during the period. Versant Capital Management Inc lifted its stake in shares of L3Harris Technologies by 77.7% in the second quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock valued at $41,000 after buying an additional 80 shares during the period. Family Firm Inc. bought a new stake in shares of L3Harris Technologies in the second quarter valued at about $45,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in L3Harris Technologies during the second quarter worth about $57,000. Institutional investors own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on LHX. Morgan Stanley cut shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $275.00 to $257.00 in a research note on Friday, August 9th. Royal Bank of Canada cut shares of L3Harris Technologies from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $250.00 to $240.00 in a research note on Wednesday, August 14th. Truist Financial lifted their target price on shares of L3Harris Technologies from $250.00 to $293.00 and gave the company a “buy” rating in a research note on Friday, October 18th. 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. Finally, Citigroup lifted their target price on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $256.71.

Insider Transactions at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $236.68, for a total transaction of $707,199.84. Following the transaction, the insider now directly owns 16,316 shares of the company’s stock, valued at $3,861,670.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.82% of the company’s stock.

L3Harris Technologies Price Performance

LHX opened at $244.17 on Friday. The company has a fifty day moving average price of $236.24 and a two-hundred day moving average price of $226.77. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.74 and a current ratio of 0.90. L3Harris Technologies, Inc. has a 52 week low of $169.55 and a 52 week high of $250.88. The firm has a market capitalization of $46.31 billion, a PE ratio of 39.64, a P/E/G ratio of 2.08 and a beta of 0.73.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, October 24th. The company reported $3.34 EPS for the quarter, topping analysts’ consensus estimates of $3.27 by $0.07. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The firm had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.28 billion. During the same quarter in the previous year, the business earned $3.19 EPS. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. As a group, analysts anticipate that L3Harris Technologies, Inc. will post 13.06 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be issued a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend is Monday, November 18th. L3Harris Technologies’s dividend payout ratio is presently 75.32%.

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.