Wealth Quarterback LLC Acquires 703 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Wealth Quarterback LLC grew its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 54.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,994 shares of the company’s stock after purchasing an additional 703 shares during the period. Wealth Quarterback LLC’s holdings in L3Harris Technologies were worth $474,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Envestnet Portfolio Solutions Inc. raised its stake in L3Harris Technologies by 35.1% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 35,953 shares of the company’s stock worth $7,661,000 after acquiring an additional 9,341 shares in the last quarter. Quantbot Technologies LP bought a new position in L3Harris Technologies during the 1st quarter valued at about $1,586,000. Empowered Funds LLC boosted its position in L3Harris Technologies by 201.4% in the first quarter. Empowered Funds LLC now owns 10,404 shares of the company’s stock valued at $2,217,000 after buying an additional 6,952 shares in the last quarter. SG Americas Securities LLC boosted its position in L3Harris Technologies by 272.0% in the first quarter. SG Americas Securities LLC now owns 55,645 shares of the company’s stock valued at $11,858,000 after buying an additional 40,687 shares in the last quarter. Finally, Tectonic Advisors LLC grew its stake in L3Harris Technologies by 12.5% during the first quarter. Tectonic Advisors LLC now owns 1,866 shares of the company’s stock worth $398,000 after buying an additional 208 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors.

Insider Activity at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $244.68, for a total transaction of $731,103.84. Following the transaction, the insider now directly owns 13,328 shares of the company’s stock, valued at $3,261,095.04. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders sold 8,964 shares of company stock worth $2,179,119. 0.82% of the stock is currently owned by company insiders.

L3Harris Technologies Price Performance

LHX opened at $260.49 on Friday. The company has a fifty day moving average price of $240.87 and a two-hundred day moving average price of $230.43. The firm has a market capitalization of $49.41 billion, a PE ratio of 41.15, a P/E/G ratio of 2.14 and a beta of 0.72. L3Harris Technologies, Inc. has a 52 week low of $179.56 and a 52 week high of $261.75. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04.

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

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be paid a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 1.78%. The ex-dividend date is Monday, November 18th. L3Harris Technologies’s payout ratio is 73.30%.

Analyst Ratings Changes

Several research analysts have recently commented on LHX shares. Morgan Stanley downgraded L3Harris Technologies from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $275.00 to $257.00 in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft reduced their price objective on 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 raised their target price on L3Harris Technologies from $260.00 to $295.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. Susquehanna upped their price target on shares of L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research report on Monday, July 29th. Finally, Royal Bank of Canada raised their price objective on shares of L3Harris Technologies from $240.00 to $265.00 and gave the company a “sector perform” rating in a research report on Monday, October 28th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $267.50.

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.