2,412 L3Harris Technologies Inc $LHX Shares Sold by Sowell Financial Services LLC

Sowell Financial Services LLC reduced its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 63.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,374 shares of the company’s stock after selling 2,412 shares during the quarter. Sowell Financial Services LLC’s holdings in L3Harris Technologies were worth $325,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the business. BlackRock Inc. purchased a new stake in L3Harris Technologies during the second quarter worth approximately $5,525,806,000. Bank of New York Mellon Corp purchased a new stake in shares of L3Harris Technologies during the 2nd quarter worth approximately $752,983,000. Deutsche Bank AG purchased a new stake in shares of L3Harris Technologies during the 2nd quarter worth approximately $174,006,000. Man Group plc lifted its position in shares of L3Harris Technologies by 5,286.7% during the 2nd quarter. Man Group plc now owns 563,720 shares of the company’s stock worth $163,811,000 after buying an additional 553,255 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of L3Harris Technologies in the 2nd quarter valued at $144,100,000. 84.76% of the stock is owned by institutional investors and hedge funds.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $277.12 on Wednesday. The stock has a market cap of $51.60 billion, a P/E ratio of 25.85, a P/E/G ratio of 1.68 and a beta of 0.47. L3Harris Technologies Inc has a twelve month low of $232.34 and a twelve month high of $379.23. The stock has a 50 day moving average of $250.32 and a two-hundred day moving average of $304.42. The company has a current ratio of 1.20, a quick ratio of 1.05 and a debt-to-equity ratio of 0.45.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, October 29th. The company reported $3.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.95 by $0.33. The business had revenue of $6.07 billion for the quarter, compared to analyst estimates of $5.92 billion. L3Harris Technologies had a net margin of 8.76% and a return on equity of 11.49%. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period last year, the firm posted $2.70 earnings per share. On average, research analysts forecast that L3Harris Technologies Inc will post 12.32 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, December 4th will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Friday, December 4th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 46.64%.

Wall Street Analyst Weigh In

A number of research firms recently commented on LHX. BNP Paribas Exane dropped their target price on shares of L3Harris Technologies from $330.00 to $310.00 and set a “neutral” rating on the stock in a research report on Thursday, July 30th. Bank of America boosted their price target on shares of L3Harris Technologies from $325.00 to $375.00 and gave the company a “buy” rating in a research report on Tuesday. Guggenheim began coverage on shares of L3Harris Technologies in a research note on Monday, September 14th. They issued a “buy” rating and a $365.00 price objective for the company. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of L3Harris Technologies in a report on Tuesday, August 18th. Finally, Royal Bank Of Canada lifted their target price on L3Harris Technologies from $265.00 to $295.00 and gave the stock a “sector perform” rating in a research report on Friday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $345.60.

L3Harris Technologies Profile

L3Harris Technologies, Inc is a technology and defense company that develops products and systems for government and commercial customers. Its offerings support aerospace, defense, space, communications, intelligence, surveillance and reconnaissance, electronic warfare, missile defense, and aviation missions.

The company provides secure communications equipment, tactical radios, sensors, avionics, electronic warfare systems, missile and air defense technologies, space payloads and systems, and other mission-critical solutions.