Mizuho Securities USA LLC Sells 2,329 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Mizuho Securities USA LLC lowered its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 15.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 12,301 shares of the company’s stock after selling 2,329 shares during the period. Mizuho Securities USA LLC’s holdings in L3Harris Technologies were worth $2,926,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Meeder Asset Management Inc. raised its holdings in L3Harris Technologies by 260.6% during the 2nd quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock valued at $27,000 after buying an additional 86 shares during the last quarter. Archer Investment Corp raised its stake in shares of L3Harris Technologies by 48.9% during the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after acquiring an additional 43 shares during the last quarter. EntryPoint Capital LLC boosted its holdings in shares of L3Harris Technologies by 70.4% during the first quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock worth $36,000 after purchasing an additional 69 shares during the period. Kennebec Savings Bank bought a new stake in shares of L3Harris Technologies in the third quarter worth about $36,000. Finally, Versant Capital Management Inc increased its holdings 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. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Up 0.6 %

Shares of NYSE:LHX opened at $248.16 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 $244.86 and a two-hundred day simple moving average of $233.15. L3Harris Technologies, Inc. has a 12-month low of $187.37 and a 12-month high of $265.74. The stock has a market capitalization of $47.07 billion, a price-to-earnings ratio of 39.20, a PEG ratio of 2.03 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last posted its quarterly 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 return on equity of 13.11% and a net margin of 5.71%. 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 previous year, the firm earned $3.19 EPS. L3Harris Technologies’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, research analysts anticipate that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend is Monday, November 18th. L3Harris Technologies’s payout ratio is 73.30%.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction 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 directly owns 13,328 shares in the company, valued at approximately $3,261,095.04. This trade represents a 18.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold 8,964 shares of company stock valued at $2,179,119 over the last 90 days. Corporate insiders own 0.82% of the company’s stock.

Analyst Ratings Changes

LHX has been the subject of several research analyst reports. Morgan Stanley cut L3Harris Technologies from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $275.00 to $257.00 in a report on Friday, August 9th. Barclays raised their price target on L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Royal Bank of Canada boosted their price objective on shares of L3Harris Technologies from $240.00 to $265.00 and gave the company a “sector perform” rating in a research report on Monday, October 28th. StockNews.com raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Finally, Truist Financial boosted their price target on shares of L3Harris Technologies from $293.00 to $300.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus 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.