Clear Harbor Asset Management LLC Grows Position in L3Harris Technologies, Inc. (NYSE:LHX)

Clear Harbor Asset Management LLC lifted its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 0.3% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 16,777 shares of the company’s stock after purchasing an additional 57 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in L3Harris Technologies were worth $3,991,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Koshinski Asset Management Inc. grew its stake in L3Harris Technologies by 2.7% during the third quarter. Koshinski Asset Management Inc. now owns 1,620 shares of the company’s stock worth $385,000 after buying an additional 42 shares during the period. RFG Advisory LLC increased its holdings in L3Harris Technologies by 3.1% in the 2nd quarter. RFG Advisory LLC now owns 1,416 shares of the company’s stock valued at $318,000 after purchasing an additional 43 shares in the last quarter. Blossom Wealth Management lifted its stake in shares of L3Harris Technologies by 1.7% during the third quarter. Blossom Wealth Management now owns 2,538 shares of the company’s stock worth $604,000 after purchasing an additional 43 shares in the last quarter. Optas LLC boosted its position in shares of L3Harris Technologies by 3.3% in the second quarter. Optas LLC now owns 1,381 shares of the company’s stock worth $310,000 after buying an additional 44 shares during the period. Finally, Founders Financial Securities LLC grew its stake in shares of L3Harris Technologies by 2.8% in the second quarter. Founders Financial Securities LLC now owns 1,774 shares of the company’s stock valued at $398,000 after buying an additional 48 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $236.68, for a total transaction of $707,199.84. Following the sale, the insider now directly owns 16,316 shares in the company, valued at approximately $3,861,670.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.82% of the stock is currently owned by insiders.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $252.81 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.74 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $47.96 billion, a price-to-earnings ratio of 40.45, a price-to-earnings-growth ratio of 2.10 and a beta of 0.73. L3Harris Technologies, Inc. has a twelve month low of $169.55 and a twelve month high of $258.89. The business has a 50 day simple moving average of $237.08 and a 200-day simple moving average of $227.34.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, October 24th. The company reported $3.34 EPS for the quarter, topping analysts’ consensus estimates of $3.27 by $0.07. The firm had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.28 billion. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The firm’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.19 earnings per share. As a group, equities research analysts expect that L3Harris Technologies, Inc. will post 13.06 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be issued a $1.16 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a yield of 1.84%. L3Harris Technologies’s dividend payout ratio is currently 74.24%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Royal Bank of Canada lowered L3Harris Technologies from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from $250.00 to $240.00 in a research report on Wednesday, August 14th. Wolfe Research raised shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price on the stock in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. Citigroup boosted their price objective on shares of L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Truist Financial raised their target price on L3Harris Technologies from $250.00 to $293.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $256.71.

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.