UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 72,868 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 11.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 538,438 shares of the company’s stock after selling 72,868 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in L3Harris Technologies were worth $128,078,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in LHX. Cetera Investment Advisers lifted its holdings in L3Harris Technologies by 236.3% during the 1st quarter. Cetera Investment Advisers now owns 63,530 shares of the company’s stock worth $13,538,000 after buying an additional 44,641 shares during the period. Transcend Capital Advisors LLC lifted its stake in shares of L3Harris Technologies by 86.7% in the second quarter. Transcend Capital Advisors LLC now owns 2,742 shares of the company’s stock worth $616,000 after acquiring an additional 1,273 shares during the period. GAMMA Investing LLC boosted its holdings in L3Harris Technologies by 57.4% in the second quarter. GAMMA Investing LLC now owns 1,462 shares of the company’s stock valued at $328,000 after acquiring an additional 533 shares during the last quarter. Versant Capital Management Inc increased its position in L3Harris Technologies by 77.7% during the 2nd quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock valued at $41,000 after purchasing an additional 80 shares during the period. Finally, Douglas Lane & Associates LLC bought a new position in L3Harris Technologies during the 2nd quarter worth approximately $202,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at L3Harris Technologies

In other 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 value of $731,103.84. Following the completion of the sale, the insider now 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 legal filing with the SEC, which is available through this hyperlink. In the last three months, insiders sold 8,964 shares of company stock valued at $2,179,119. 0.82% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on LHX. Citigroup increased their price objective on shares of L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Wolfe Research raised 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. StockNews.com upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Bank of America upgraded L3Harris Technologies from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $240.00 to $300.00 in a report on Thursday, October 31st. Finally, Argus upgraded L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price target on the stock in a report on Tuesday, November 26th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $269.67.

L3Harris Technologies Stock Up 0.4 %

Shares of NYSE LHX opened at $246.25 on Monday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87. The company has a 50-day moving average price of $246.22 and a 200-day moving average price of $234.23. The stock has a market capitalization of $46.71 billion, a P/E ratio of 38.90, a P/E/G ratio of 2.05 and a beta of 0.72. L3Harris Technologies, Inc. has a 1 year low of $188.95 and a 1 year high of $265.74.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.27 by $0.07. The business had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.28 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.19 EPS. On average, equities research analysts forecast that L3Harris Technologies, Inc. will post 13.1 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be given a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend is Monday, November 18th. L3Harris Technologies’s payout ratio is currently 73.30%.

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.