Tompkins Financial Corp Buys 281 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Tompkins Financial Corp grew its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 65.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 711 shares of the company’s stock after acquiring an additional 281 shares during the quarter. Tompkins Financial Corp’s holdings in L3Harris Technologies were worth $169,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in 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 purchasing an additional 2,606,267 shares during the period. Manning & Napier Advisors LLC bought a new stake in shares of L3Harris Technologies in the 2nd quarter valued at about $210,886,000. Envestnet Asset Management Inc. boosted its holdings in L3Harris Technologies by 236.8% in the second quarter. Envestnet Asset Management Inc. now owns 989,340 shares of the company’s stock valued at $222,186,000 after acquiring an additional 695,582 shares during the last quarter. Bank of New York Mellon Corp increased its position in L3Harris Technologies by 19.7% during the 2nd 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 period. Finally, The Manufacturers Life Insurance Company increased its position in shares of L3Harris Technologies by 65.2% during the second quarter. The Manufacturers Life Insurance Company now owns 434,287 shares of the company’s stock worth $97,532,000 after buying an additional 171,420 shares during the period. Institutional investors own 84.76% of the company’s stock.

Insider Activity at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $247.93, for a total value of $740,814.84. Following the completion of the transaction, the insider now directly owns 10,340 shares in the company, valued at approximately $2,563,596.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 8,964 shares of company stock valued at $2,179,119 over the last 90 days. 0.82% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Citigroup raised their target price on L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Wolfe Research upgraded L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective on the stock in a research note on Thursday, October 10th. Bank of America upgraded L3Harris Technologies from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $240.00 to $300.00 in a research note on Thursday, October 31st. Morgan Stanley downgraded shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $275.00 to $257.00 in a report on Friday, August 9th. Finally, Truist Financial lifted their price target on shares of L3Harris Technologies from $293.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $267.50.

L3Harris Technologies Price Performance

L3Harris Technologies stock opened at $260.60 on Friday. The business has a 50-day simple moving average of $240.87 and a 200 day simple moving average of $230.43. L3Harris Technologies, Inc. has a 52 week low of $179.56 and a 52 week high of $261.75. The stock has a market cap of $49.43 billion, a price-to-earnings ratio of 41.17, a PEG ratio of 2.14 and a beta of 0.72. 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 (NYSE:LHX) last posted its quarterly earnings data on Thursday, October 24th. The company reported $3.34 earnings per share 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 for the quarter, compared to analysts’ expectations of $5.28 billion. During the same period in the prior year, the business earned $3.19 earnings per share. L3Harris Technologies’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, research analysts forecast that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

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