L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Bank of Montreal Can

Bank of Montreal Can decreased its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 5.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 340,399 shares of the company’s stock after selling 20,340 shares during the quarter. Bank of Montreal Can’s holdings in L3Harris Technologies were worth $79,990,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. KCM Investment Advisors LLC raised its position in L3Harris Technologies by 43.8% during the 3rd quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company’s stock worth $4,584,000 after buying an additional 5,868 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of L3Harris Technologies by 17.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 43,838 shares of the company’s stock worth $9,845,000 after acquiring an additional 6,634 shares during the period. Creative Planning raised its holdings in shares of L3Harris Technologies by 1.2% during the third quarter. Creative Planning now owns 41,588 shares of the company’s stock worth $9,893,000 after purchasing an additional 512 shares during the last quarter. Manning & Napier Advisors LLC acquired a new position in L3Harris Technologies during the second quarter valued at $210,886,000. Finally, Janney Montgomery Scott LLC purchased a new stake in L3Harris Technologies in the third quarter valued at $35,904,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Performance

NYSE LHX opened at $245.57 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87. L3Harris Technologies, Inc. has a 1-year low of $187.37 and a 1-year high of $265.74. The company has a market cap of $46.58 billion, a PE ratio of 38.79, a price-to-earnings-growth ratio of 2.07 and a beta of 0.72. The stock’s 50 day simple moving average is $245.35 and its 200-day simple moving average is $233.72.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.27 by $0.07. The company had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.28 billion. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.19 EPS. As a group, equities research analysts anticipate that L3Harris Technologies, Inc. will post 13.09 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be issued a $1.16 dividend. The ex-dividend date is Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a yield of 1.89%. L3Harris Technologies’s payout ratio is 73.30%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on LHX shares. Barclays lifted their price objective on L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft reduced their price target on L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Wells Fargo & Company upped their price objective on L3Harris Technologies from $260.00 to $295.00 and gave the stock an “overweight” rating in a research 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 target price for the company in a report on Thursday, October 10th. Finally, Morgan Stanley lowered shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $275.00 to $257.00 in a research report on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, L3Harris Technologies currently has an average rating of “Moderate Buy” and an average price target of $269.67.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $247.93, for a total value of $740,814.84. Following the completion of the sale, the insider now directly owns 10,340 shares of the company’s stock, valued at $2,563,596.20. This trade represents a 22.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 8,964 shares of company stock valued at $2,179,119 in the last ninety days. 0.87% of the stock is currently owned by corporate insiders.

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.