UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 72,868 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 11.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 538,438 shares of the company’s stock after selling 72,868 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.28% of L3Harris Technologies worth $128,078,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of LHX. KCM Investment Advisors LLC raised its holdings in shares of L3Harris Technologies by 43.8% in the 3rd quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company’s stock valued at $4,584,000 after purchasing an additional 5,868 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in L3Harris Technologies by 17.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 43,838 shares of the company’s stock valued at $9,845,000 after buying an additional 6,634 shares during the period. Creative Planning lifted its position in shares of L3Harris Technologies by 1.2% in the third quarter. Creative Planning now owns 41,588 shares of the company’s stock valued at $9,893,000 after buying an additional 512 shares during the last quarter. Manning & Napier Advisors LLC bought a new position in shares of L3Harris Technologies during the 2nd quarter worth approximately $210,886,000. Finally, Janney Montgomery Scott LLC acquired a new position in shares of L3Harris Technologies during the 3rd quarter worth approximately $35,904,000. 84.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on LHX. Royal Bank of Canada lifted their price objective on shares of L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a research report on Monday, October 28th. Bank of America upgraded shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and upped their price target for the company from $240.00 to $300.00 in a research note on Thursday, October 31st. Citigroup raised their price objective on shares of L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Argus raised L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 target price on the stock in a research report on Tuesday, November 26th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $269.67.

Insider Buying and Selling at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $247.93, for a total transaction of $740,814.84. Following the completion of the transaction, the insider now directly owns 10,340 shares in the company, valued at $2,563,596.20. This represents a 22.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 8,964 shares of company stock worth $2,179,119 over the last 90 days. Insiders own 0.82% of the company’s stock.

L3Harris Technologies Price Performance

LHX stock opened at $246.25 on Monday. The company’s 50-day moving average price is $246.22 and its two-hundred day moving average price is $234.23. The firm has a market cap of $46.71 billion, a P/E ratio of 38.90, a P/E/G ratio of 2.05 and a beta of 0.72. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. L3Harris Technologies, Inc. has a 12 month low of $188.95 and a 12 month high of $265.74.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data 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. The business had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.28 billion. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period last year, the firm posted $3.19 earnings per share. On average, analysts anticipate that L3Harris Technologies, Inc. will post 13.1 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

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

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.