L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Dumont & Blake Investment Advisors LLC

Dumont & Blake Investment Advisors LLC lowered its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 51.0% in the third quarter, Holdings Channel.com reports. The fund owned 998 shares of the company’s stock after selling 1,038 shares during the quarter. Dumont & Blake Investment Advisors LLC’s holdings in L3Harris Technologies were worth $237,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of LHX. Wealthcare Advisory Partners LLC purchased a new position in shares of L3Harris Technologies in the first quarter valued at $216,000. Wealth Enhancement Advisory Services LLC lifted its position in L3Harris Technologies by 18.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 37,204 shares of the company’s stock worth $7,928,000 after acquiring an additional 5,877 shares in the last quarter. Fifth Third Wealth Advisors LLC acquired a new position in L3Harris Technologies during the 1st quarter worth approximately $265,000. Independence Bank of Kentucky raised its position in shares of L3Harris Technologies by 63.0% in the 1st quarter. Independence Bank of Kentucky now owns 515 shares of the company’s stock valued at $110,000 after purchasing an additional 199 shares in the last quarter. Finally, Griffin Asset Management Inc. raised its position in shares of L3Harris Technologies by 2.9% in the 1st quarter. Griffin Asset Management Inc. now owns 5,365 shares of the company’s stock valued at $1,143,000 after purchasing an additional 151 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Stock Performance

LHX opened at $252.66 on Friday. The firm has a market capitalization of $47.93 billion, a P/E ratio of 40.43, a price-to-earnings-growth ratio of 2.10 and a beta of 0.73. The stock’s 50 day moving average price is $236.59 and its two-hundred day moving average price is $226.89. The company has a quick ratio of 0.74, a current ratio of 0.90 and a debt-to-equity ratio of 0.56. L3Harris Technologies, Inc. has a 12-month low of $169.55 and a 12-month high of $258.89.

L3Harris Technologies (NYSE:LHX) last released its 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. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The firm had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same quarter last year, the firm posted $3.19 EPS. The company’s revenue was up 7.7% on a year-over-year basis. On average, equities analysts forecast that L3Harris Technologies, Inc. will post 13.06 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The company 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 1.84%. The ex-dividend date of this dividend is Monday, November 18th. L3Harris Technologies’s payout ratio is presently 74.24%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on LHX. Barclays boosted 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. Royal Bank of Canada lowered L3Harris Technologies from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $250.00 to $240.00 in a research report on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft cut their price target on L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a research note on Thursday, October 3rd. Wells Fargo & Company cut their price target on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Finally, Truist Financial raised their price target on L3Harris Technologies from $250.00 to $293.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $256.71.

Insider Transactions at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total transaction of $731,103.84. Following the sale, the insider now owns 13,328 shares of the company’s stock, valued at approximately $3,261,095.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.82% of the stock is owned by 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.