Charles Schwab Investment Management Inc. Decreases Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Charles Schwab Investment Management Inc. lessened its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 8.7% in the third quarter, Holdings Channel.com reports. The firm owned 1,177,128 shares of the company’s stock after selling 111,609 shares during the period. Charles Schwab Investment Management Inc.’s holdings in L3Harris Technologies were worth $280,003,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. Meeder Asset Management Inc. boosted its holdings in L3Harris Technologies by 260.6% in the 2nd quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock worth $27,000 after buying an additional 86 shares during the period. Archer Investment Corp boosted its holdings in shares of L3Harris Technologies by 48.9% in the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after acquiring an additional 43 shares during the period. EntryPoint Capital LLC grew its position 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 purchasing an additional 69 shares in the last quarter. Kennebec Savings Bank bought a new stake in shares of L3Harris Technologies during the 3rd quarter valued at $36,000. Finally, Versant Capital Management Inc lifted its holdings in L3Harris Technologies by 77.7% during the 2nd quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock worth $41,000 after purchasing an additional 80 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company upped their price target on L3Harris Technologies from $260.00 to $295.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. Susquehanna increased their target price on shares of L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research note on Monday, July 29th. Truist Financial boosted their price target on shares of L3Harris Technologies from $293.00 to $300.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Royal Bank of Canada increased their price objective on L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a research report on Monday, October 28th. Finally, Wolfe Research raised L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target on the stock in a report on Thursday, October 10th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $267.50.

L3Harris Technologies Trading Up 0.6 %

Shares of LHX opened at $248.16 on Friday. L3Harris Technologies, Inc. has a fifty-two week low of $187.37 and a fifty-two week high of $265.74. The firm has a market cap of $47.07 billion, a price-to-earnings ratio of 39.20, a PEG ratio of 2.03 and a beta of 0.72. The firm has a 50 day moving average price of $244.86 and a 200-day moving average price of $233.15. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, topping 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 business had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.28 billion. During the same period in the previous year, the firm posted $3.19 earnings per share. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, equities research analysts forecast that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be given a $1.16 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.64 annualized dividend and a yield of 1.87%. L3Harris Technologies’s payout ratio is currently 73.30%.

Insider Activity

In related news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $244.68, for a total transaction of $731,103.84. Following the completion of the sale, the insider now directly owns 13,328 shares in the company, valued at $3,261,095.04. This represents a 18.31 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Over the last 90 days, insiders sold 8,964 shares of company stock valued at $2,179,119. 0.82% of the stock is currently owned by company insiders.

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.