abrdn plc Has $4.09 Million Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

abrdn plc lessened its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 83.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,271 shares of the company’s stock after selling 86,258 shares during the quarter. abrdn plc’s holdings in L3Harris Technologies were worth $4,085,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in LHX. Meeder Asset Management Inc. increased its stake in shares of L3Harris Technologies by 260.6% during the 2nd 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 last quarter. EntryPoint Capital LLC increased its position in 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 buying an additional 69 shares during the last quarter. Versant Capital Management Inc raised its stake in L3Harris Technologies by 77.7% in the second quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock valued at $41,000 after buying an additional 80 shares during the period. Family Firm Inc. acquired a new stake in shares of L3Harris Technologies in the second quarter valued at approximately $45,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of L3Harris Technologies during the 2nd quarter worth approximately $57,000. 84.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on LHX. Citigroup raised their price target on L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Truist Financial lifted 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. Royal Bank of Canada increased their price target on shares of L3Harris Technologies from $240.00 to $265.00 and gave the company a “sector perform” rating in a report on Monday, October 28th. Bank of America upgraded L3Harris Technologies from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $240.00 to $300.00 in a report on Thursday. Finally, Wells Fargo & Company increased their target price on L3Harris Technologies from $260.00 to $295.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $267.50.

Insider Buying and Selling

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total value of $731,103.84. Following the transaction, the insider now owns 13,328 shares in the company, valued at $3,261,095.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.82% of the stock is owned by corporate insiders.

L3Harris Technologies Trading Up 0.0 %

LHX opened at $247.48 on Monday. 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 twelve month low of $179.00 and a twelve month high of $258.89. The stock has a market capitalization of $46.94 billion, a price-to-earnings ratio of 39.10, a P/E/G ratio of 2.12 and a beta of 0.72. The company has a 50-day simple moving average of $238.70 and a 200 day simple moving average of $229.07.

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 net margin of 5.71% and a return on equity of 13.11%. The business had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same quarter last year, the business posted $3.19 EPS. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. Analysts predict that L3Harris Technologies, Inc. will post 13.09 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm 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. The ex-dividend date is Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.87%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 73.30%.

L3Harris Technologies 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.