Ipswich Investment Management Co. Inc. Has $2.12 Million Position in L3Harris Technologies, Inc. (NYSE:LHX)

Ipswich Investment Management Co. Inc. cut its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 4.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 8,890 shares of the company’s stock after selling 420 shares during the quarter. Ipswich Investment Management Co. Inc.’s holdings in L3Harris Technologies were worth $2,115,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Meeder Asset Management Inc. lifted its holdings in shares of L3Harris Technologies by 260.6% during the second quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock worth $27,000 after purchasing an additional 86 shares during the period. Archer Investment Corp lifted its holdings in L3Harris Technologies by 48.9% during the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after buying an additional 43 shares during the period. EntryPoint Capital LLC grew its position in shares of L3Harris Technologies by 70.4% in the 1st quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock valued at $36,000 after buying an additional 69 shares during the last quarter. Kennebec Savings Bank acquired a new stake in shares of L3Harris Technologies in the third quarter valued at about $36,000. Finally, Versant Capital Management Inc raised its position in shares of L3Harris Technologies by 77.7% during the second quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock worth $41,000 after acquiring an additional 80 shares during the last quarter. 84.76% of the stock is owned by institutional investors.

Insider Transactions at L3Harris Technologies

In related 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 owns 16,316 shares in the company, valued at approximately $3,861,670.88. This trade represents a 15.48 % decrease in their ownership of the stock. The transaction was disclosed in a 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. Insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on LHX. Barclays increased their target price on shares of L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Wolfe Research upgraded L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target for the company in a report on Thursday, October 10th. Susquehanna boosted their price objective on L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research note on Monday, July 29th. Finally, Truist Financial raised their target price on L3Harris Technologies from $293.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $267.50.

L3Harris Technologies Trading Down 0.5 %

Shares of L3Harris Technologies stock opened at $247.00 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58. The stock has a fifty day simple moving average of $243.16 and a 200 day simple moving average of $232.02. L3Harris Technologies, Inc. has a 12-month low of $184.34 and a 12-month high of $265.74. The company has a market capitalization of $46.85 billion, a P/E ratio of 39.02, a price-to-earnings-growth ratio of 2.18 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last posted 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. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The firm had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.28 billion. During the same quarter in the prior year, the business posted $3.19 EPS. The business’s revenue was up 7.7% compared to the same quarter last year. On average, sell-side analysts anticipate that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

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

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.