Meridian Investment Counsel Inc. Sells 330 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Meridian Investment Counsel Inc. lessened its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 3.6% in the third quarter, Holdings Channel.com reports. The firm owned 8,754 shares of the company’s stock after selling 330 shares during the period. Meridian Investment Counsel Inc.’s holdings in L3Harris Technologies were worth $2,082,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the business. Nicollet Investment Management Inc. boosted its holdings in L3Harris Technologies by 1.2% in the 3rd quarter. Nicollet Investment Management Inc. now owns 6,675 shares of the company’s stock worth $1,588,000 after buying an additional 81 shares during the period. KCM Investment Advisors LLC boosted its holdings in shares of L3Harris Technologies by 43.8% in the third quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company’s stock worth $4,584,000 after acquiring an additional 5,868 shares during the period. Archer Investment Corp grew its position in shares of L3Harris Technologies by 48.9% in the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after purchasing an additional 43 shares in the last quarter. Empirical Finance LLC raised its stake in shares of L3Harris Technologies by 2.0% during the 3rd quarter. Empirical Finance LLC now owns 6,673 shares of the company’s stock valued at $1,587,000 after purchasing an additional 130 shares during the period. Finally, CIBC Asset Management Inc raised its stake in shares of L3Harris Technologies by 8.1% during the 3rd quarter. CIBC Asset Management Inc now owns 27,804 shares of the company’s stock valued at $6,614,000 after purchasing an additional 2,080 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Buying and Selling

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $236.68, for a total transaction of $707,199.84. Following the completion of the sale, the insider now directly owns 16,316 shares in the company, valued at approximately $3,861,670.88. This trade represents a 15.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 8,964 shares of company stock worth $2,179,119 in the last quarter. Corporate insiders own 0.82% of the company’s stock.

L3Harris Technologies Price Performance

LHX stock opened at $247.00 on Friday. The company has a market cap of $46.85 billion, a P/E ratio of 39.02, a PEG ratio of 2.18 and a beta of 0.72. The firm has a 50-day moving average of $243.16 and a 200 day moving average of $232.02. L3Harris Technologies, Inc. has a 1 year low of $184.34 and a 1 year high of $265.74. 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 (NYSE:LHX) last released its earnings results on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.27 by $0.07. The firm had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.28 billion. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The business’s revenue was up 7.7% on a year-over-year basis. During the same period last year, the business earned $3.19 earnings per share. On average, sell-side analysts forecast that L3Harris Technologies, Inc. will post 13.09 EPS for the current year.

L3Harris Technologies Dividend Announcement

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

Wall Street Analysts Forecast Growth

LHX has been the topic of a number of analyst reports. Truist Financial upped their target price on shares of L3Harris Technologies from $293.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Citigroup raised their price target on L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Susquehanna upped their price objective on L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. Finally, Barclays upped their price objective on shares of L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, L3Harris Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $267.50.

L3Harris Technologies Company Profile

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.