Captrust Financial Advisors Cuts Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Captrust Financial Advisors decreased its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 0.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,509 shares of the company’s stock after selling 51 shares during the period. Captrust Financial Advisors’ holdings in L3Harris Technologies were worth $11,063,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Manning & Napier Advisors LLC acquired a new stake in L3Harris Technologies in the second quarter valued at approximately $210,886,000. Envestnet Asset Management Inc. increased its stake in L3Harris Technologies by 236.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 989,340 shares of the company’s stock worth $222,186,000 after buying an additional 695,582 shares during the period. Bank of New York Mellon Corp lifted its holdings in L3Harris Technologies by 19.7% in 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 in the last quarter. The Manufacturers Life Insurance Company boosted its position in L3Harris Technologies by 65.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 434,287 shares of the company’s stock valued at $97,532,000 after buying an additional 171,420 shares during the last quarter. Finally, International Assets Investment Management LLC grew its stake in shares of L3Harris Technologies by 23,627.0% during the third 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 in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Buying and Selling

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $244.68, for a total transaction of $731,103.84. Following the sale, the insider now directly owns 13,328 shares in the company, valued at approximately $3,261,095.04. The trade was 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 link. Insiders sold 8,964 shares of company stock valued at $2,179,119 over the last 90 days. 0.82% of the stock is currently owned by company insiders.

L3Harris Technologies Stock Up 0.4 %

LHX stock opened at $246.25 on Monday. The stock has a market cap of $46.71 billion, a PE ratio of 38.90, a price-to-earnings-growth ratio of 2.05 and a beta of 0.72. The firm’s 50-day simple moving average is $246.22 and its 200 day simple moving average is $234.23. L3Harris Technologies, Inc. has a fifty-two week low of $188.95 and a fifty-two week high of $265.74. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, October 24th. The company reported $3.34 EPS for the quarter, beating the consensus estimate of $3.27 by $0.07. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The company had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same quarter last year, the business earned $3.19 earnings per share. L3Harris Technologies’s revenue was up 7.7% compared to the same quarter last year. As a group, sell-side analysts predict that L3Harris Technologies, Inc. will post 13.1 EPS for the current year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders 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 dividend yield of 1.88%. The ex-dividend date is Monday, November 18th. L3Harris Technologies’s dividend payout ratio (DPR) is 73.30%.

Analyst Ratings Changes

LHX has been the subject of a number of analyst reports. Royal Bank of Canada increased their price target on L3Harris Technologies from $240.00 to $265.00 and gave the company a “sector perform” rating in a report on Monday, October 28th. 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 report on Thursday, October 10th. Morgan Stanley cut shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $275.00 to $257.00 in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. Finally, StockNews.com upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $269.67.

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.