L3Harris Technologies, Inc. (NYSE:LHX) Shares Acquired by Moloney Securities Asset Management LLC

Moloney Securities Asset Management LLC lifted its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 5.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,005 shares of the company’s stock after buying an additional 150 shares during the quarter. Moloney Securities Asset Management LLC’s holdings in L3Harris Technologies were worth $715,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in LHX. Vanguard Group Inc. grew its position in shares of L3Harris Technologies by 12.9% during the first quarter. Vanguard Group Inc. now owns 22,792,779 shares of the company’s stock worth $4,857,141,000 after buying an additional 2,606,267 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in L3Harris Technologies during the second quarter valued at $210,886,000. Envestnet Asset Management Inc. increased its stake in L3Harris Technologies by 236.8% during the second quarter. Envestnet Asset Management Inc. now owns 989,340 shares of the company’s stock valued at $222,186,000 after purchasing an additional 695,582 shares during the last quarter. Bank of New York Mellon Corp increased its stake in L3Harris Technologies by 19.7% during the second quarter. Bank of New York Mellon Corp now owns 3,174,181 shares of the company’s stock valued at $712,858,000 after purchasing an additional 523,315 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in L3Harris Technologies by 65.2% during the second quarter. The Manufacturers Life Insurance Company now owns 434,287 shares of the company’s stock valued at $97,532,000 after purchasing an additional 171,420 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on LHX shares. Truist Financial upped their price target on shares of L3Harris Technologies from $293.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Wells Fargo & Company upped their price target on shares of L3Harris Technologies from $260.00 to $295.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Morgan Stanley lowered shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $275.00 to $257.00 in a research report on Friday, August 9th. Barclays upped their price target on shares of L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Finally, Citigroup upped their price target 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. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $267.50.

Insider Activity

In other news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $236.68, for a total value of $707,199.84. Following the transaction, the insider now owns 16,316 shares in the company, valued at $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 is available at this link. Insiders have sold 8,964 shares of company stock worth $2,179,119 in the last 90 days. Company insiders own 0.87% of the company’s stock.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $250.95 on Wednesday. The firm has a 50-day moving average of $239.48 and a two-hundred day moving average of $229.71. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $47.60 billion, a price-to-earnings ratio of 39.64, a PEG ratio of 2.06 and a beta of 0.72. L3Harris Technologies, Inc. has a twelve month low of $179.56 and a twelve month high of $258.89.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data 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. The firm had revenue of $5.29 billion for 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 revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.19 EPS. As a group, analysts expect that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be issued a dividend of $1.16 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.64 annualized dividend and a yield of 1.85%. L3Harris Technologies’s payout ratio is presently 73.30%.

L3Harris Technologies Company 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.