Voya Financial Advisors Inc. Trims Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Voya Financial Advisors Inc. lowered its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 4.1% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 3,151 shares of the company’s stock after selling 135 shares during the period. Voya Financial Advisors Inc.’s holdings in L3Harris Technologies were worth $740,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. KCM Investment Advisors LLC boosted its position in shares of L3Harris Technologies by 43.8% during the third quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company’s stock worth $4,584,000 after buying an additional 5,868 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in L3Harris Technologies by 17.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 43,838 shares of the company’s stock valued at $9,845,000 after acquiring an additional 6,634 shares in the last quarter. Creative Planning increased its stake in L3Harris Technologies by 1.2% during the third quarter. Creative Planning now owns 41,588 shares of the company’s stock worth $9,893,000 after purchasing an additional 512 shares during the period. Janney Montgomery Scott LLC acquired a new stake in shares of L3Harris Technologies during the third quarter worth about $35,904,000. Finally, AdvisorNet Financial Inc boosted its stake in shares of L3Harris Technologies by 700.2% in the second quarter. AdvisorNet Financial Inc now owns 3,353 shares of the company’s stock valued at $753,000 after purchasing an additional 2,934 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

Shares of LHX opened at $238.10 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87. L3Harris Technologies, Inc. has a 1-year low of $193.34 and a 1-year high of $265.74. The stock has a market cap of $45.16 billion, a PE ratio of 37.61, a price-to-earnings-growth ratio of 2.00 and a beta of 0.72. The firm has a fifty day moving average price of $246.70 and a 200 day moving average price of $234.56.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, beating the consensus estimate of $3.27 by $0.07. The business had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.28 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the business earned $3.19 EPS. As a group, sell-side analysts anticipate that L3Harris Technologies, Inc. will post 13.09 EPS for the current year.

L3Harris Technologies Dividend Announcement

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 issued a $1.16 dividend. The ex-dividend date is Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.95%. 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 L3Harris Technologies stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $247.93, for a total value of $740,814.84. Following the transaction, the insider now directly owns 10,340 shares in the company, valued at approximately $2,563,596.20. This trade represents a 22.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.82% of the stock is owned by insiders.

Analyst Ratings Changes

LHX has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft cut their target price on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. Wells Fargo & Company increased their price objective on L3Harris Technologies from $260.00 to $295.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. Argus raised L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 target price for the company in a research note on Tuesday, November 26th. Wolfe Research raised L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target on the stock in a research report on Thursday, October 10th. Finally, StockNews.com raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, L3Harris Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $269.67.

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.