Bard Financial Services Inc. Sells 630 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Bard Financial Services Inc. decreased its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 11.3% during the third quarter, HoldingsChannel reports. The institutional investor owned 4,950 shares of the company’s stock after selling 630 shares during the period. Bard Financial Services Inc.’s holdings in L3Harris Technologies were worth $1,177,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Meeder Asset Management Inc. boosted its holdings in L3Harris Technologies by 260.6% in the second 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. Archer Investment Corp increased its holdings in L3Harris Technologies by 48.9% in the 3rd 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. Kennebec Savings Bank purchased a new position in shares of L3Harris Technologies in the 3rd quarter worth $36,000. Family Firm Inc. purchased a new position in shares of L3Harris Technologies during the 2nd quarter worth about $45,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in L3Harris Technologies in the 2nd quarter valued at about $57,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insiders Place Their Bets

In related news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $247.93, for a total value of $740,814.84. Following the completion of the sale, the insider now 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 the SEC website. 0.82% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on LHX. Wolfe Research upgraded shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target for the company in a report on Thursday, October 10th. Truist Financial upped their price target on shares of L3Harris Technologies from $293.00 to $300.00 and gave the company a “buy” rating in a research note on Monday, October 28th. StockNews.com raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Citigroup upped their price objective on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $269.67.

L3Harris Technologies Trading Up 0.3 %

NYSE LHX opened at $230.51 on Wednesday. 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 52 week low of $196.42 and a 52 week high of $265.74. The stock has a market capitalization of $43.72 billion, a PE ratio of 36.42, a price-to-earnings-growth ratio of 1.96 and a beta of 0.72. The firm has a 50 day moving average of $246.53 and a two-hundred day moving average of $234.82.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, October 24th. The company reported $3.34 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 company had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.28 billion. During the same quarter in the previous year, the business posted $3.19 EPS. The firm’s revenue was up 7.7% on a year-over-year basis. As a group, research analysts expect that L3Harris Technologies, Inc. will post 13.09 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Monday, November 18th were issued a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend was 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.