Oak Harbor Wealth Partners LLC Sells 77 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Oak Harbor Wealth Partners LLC cut its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 2.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,017 shares of the company’s stock after selling 77 shares during the quarter. Oak Harbor Wealth Partners LLC’s holdings in L3Harris Technologies were worth $718,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of L3Harris Technologies by 17.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 43,838 shares of the company’s stock valued at $9,845,000 after acquiring an additional 6,634 shares during the period. Edgestream Partners L.P. raised its holdings in shares of L3Harris Technologies by 151.6% in the first quarter. Edgestream Partners L.P. now owns 3,859 shares of the company’s stock valued at $822,000 after buying an additional 2,325 shares during the last quarter. Creative Planning raised its holdings in shares of L3Harris Technologies by 1.2% in the third quarter. Creative Planning now owns 41,588 shares of the company’s stock valued at $9,893,000 after buying an additional 512 shares during the last quarter. Manning & Napier Advisors LLC bought a new position in shares of L3Harris Technologies in the second quarter valued at about $210,886,000. Finally, Janney Montgomery Scott LLC bought a new position in shares of L3Harris Technologies in the third quarter valued at about $35,904,000. 84.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on LHX shares. Royal Bank of Canada lifted 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. Barclays lifted their price target on L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Bank of America upgraded L3Harris Technologies from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $240.00 to $300.00 in a research report on Thursday, October 31st. Wolfe Research upgraded L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective for the company in a research report on Thursday, October 10th. Finally, Susquehanna lifted their price objective on L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research report on Monday, July 29th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $267.50.

L3Harris Technologies Price Performance

L3Harris Technologies stock opened at $248.16 on Friday. The firm has a market capitalization of $47.07 billion, a P/E ratio of 39.20, a PEG ratio of 2.18 and a beta of 0.72. L3Harris Technologies, Inc. has a 1 year low of $184.34 and a 1 year high of $265.74. The business has a 50-day moving average of $242.46 and a 200-day moving average of $231.69. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $5.28 billion. During the same quarter in the previous year, the business posted $3.19 EPS. L3Harris Technologies’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, equities analysts anticipate that L3Harris Technologies, Inc. will post 13.09 EPS for the current year.

L3Harris Technologies Announces Dividend

The firm also recently disclosed 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 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%.

Insider Activity

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the business’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 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 legal filing with the SEC, which is accessible through this link. Insiders have sold 8,964 shares of company stock worth $2,179,119 in the last 90 days. Corporate insiders own 0.82% of the company’s stock.

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.