L3Harris Technologies Inc $LHX Stock Sold by Sowell Financial Services LLC

Sowell Financial Services LLC reduced its stake in L3Harris Technologies Inc (NYSE:LHX) by 63.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,374 shares of the company’s stock after selling 2,412 shares during the period. Sowell Financial Services LLC’s holdings in L3Harris Technologies were worth $325,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Concurrent Investment Advisors LLC raised its position in L3Harris Technologies by 29.4% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 53,138 shares of the company’s stock worth $15,441,000 after buying an additional 12,059 shares during the last quarter. Community Trust & Investment Co. lifted its stake in shares of L3Harris Technologies by 8.2% in the 3rd quarter. Community Trust & Investment Co. now owns 63,777 shares of the company’s stock worth $15,101,000 after acquiring an additional 4,828 shares during the period. Meeder Advisory Services Inc. purchased a new stake in shares of L3Harris Technologies in the second quarter valued at about $1,397,000. Swiss National Bank boosted its holdings in shares of L3Harris Technologies by 7.1% in the first quarter. Swiss National Bank now owns 549,029 shares of the company’s stock valued at $189,497,000 after acquiring an additional 36,320 shares in the last quarter. Finally, ASK Capital Investment Managers LLC purchased a new stake in shares of L3Harris Technologies in the third quarter valued at about $1,839,000. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

L3Harris Technologies Price Performance

L3Harris Technologies stock opened at $277.12 on Wednesday. The company has a market cap of $51.60 billion, a P/E ratio of 25.85, a price-to-earnings-growth ratio of 1.68 and a beta of 0.47. L3Harris Technologies Inc has a one year low of $232.34 and a one year high of $379.23. The business has a fifty day moving average of $250.32 and a two-hundred day moving average of $304.42. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.05 and a current ratio of 1.20.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, October 29th. The company reported $3.28 earnings per share for the quarter, topping analysts’ consensus estimates of $2.95 by $0.33. L3Harris Technologies had a net margin of 8.76% and a return on equity of 11.49%. The business had revenue of $6.07 billion for the quarter, compared to analysts’ expectations of $5.92 billion. During the same period in the prior year, the company posted $2.70 EPS. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, analysts predict that L3Harris Technologies Inc will post 12.32 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Friday, December 4th will be paid a $1.25 dividend. The ex-dividend date is Friday, December 4th. This represents a $5.00 annualized dividend and a dividend yield of 1.8%. L3Harris Technologies’s dividend payout ratio (DPR) is 46.64%.

Analysts Set New Price Targets

Several research firms recently issued reports on LHX. BNP Paribas Exane cut their price target on shares of L3Harris Technologies from $330.00 to $310.00 and set a “neutral” rating for the company in a report on Thursday, July 30th. Wall Street Zen raised L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Sunday. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of L3Harris Technologies in a report on Tuesday, August 18th. The Goldman Sachs Group dropped their target price on L3Harris Technologies from $405.00 to $361.00 and set a “buy” rating on the stock in a research report on Monday, October 12th. Finally, Jefferies Financial Group downgraded L3Harris Technologies from a “buy” rating to a “hold” rating and set a $315.00 target price for the company. in a research note on Wednesday, August 26th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, L3Harris Technologies has an average rating of “Moderate Buy” and a consensus price target of $345.60.

About L3Harris Technologies

L3Harris Technologies, Inc is a technology and defense company that develops products and systems for government and commercial customers. Its offerings support aerospace, defense, space, communications, intelligence, surveillance and reconnaissance, electronic warfare, missile defense, and aviation missions.

The company provides secure communications equipment, tactical radios, sensors, avionics, electronic warfare systems, missile and air defense technologies, space payloads and systems, and other mission-critical solutions.