Ashton Thomas Securities LLC Takes Position in L3Harris Technologies, Inc. (NYSE:LHX)

Ashton Thomas Securities LLC purchased a new stake in L3Harris Technologies, Inc. (NYSE:LHX) during the third quarter, HoldingsChannel reports. The institutional investor purchased 269 shares of the company’s stock, valued at approximately $64,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. QRG Capital Management Inc. increased its position in L3Harris Technologies by 6.3% during the first quarter. QRG Capital Management Inc. now owns 2,431 shares of the company’s stock worth $518,000 after buying an additional 145 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of L3Harris Technologies in the first quarter valued at approximately $228,000. State Board of Administration of Florida Retirement System grew its position in shares of L3Harris Technologies by 9.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 215,262 shares of the company’s stock valued at $42,243,000 after purchasing an additional 18,631 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of L3Harris Technologies by 18.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 240,182 shares of the company’s stock valued at $51,183,000 after buying an additional 36,981 shares during the period. Finally, Condor Capital Management boosted its stake in shares of L3Harris Technologies by 56.3% in the first quarter. Condor Capital Management now owns 12,079 shares of the company’s stock valued at $2,574,000 after buying an additional 4,353 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Morgan Stanley downgraded L3Harris Technologies from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $275.00 to $257.00 in a research note on Friday, August 9th. Wolfe Research upgraded shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective for the company in a report on Thursday, October 10th. Barclays increased their target price on shares of L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. StockNews.com raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Finally, Royal Bank of Canada raised their price objective on shares of L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a research report on Monday, October 28th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $267.50.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $247.93, for a total transaction of $740,814.84. Following the completion of the transaction, the insider now owns 10,340 shares of the company’s stock, valued at approximately $2,563,596.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 8,964 shares of company stock valued at $2,179,119 in the last quarter. 0.82% of the stock is currently owned by corporate insiders.

L3Harris Technologies Trading Down 1.0 %

NYSE LHX opened at $261.62 on Wednesday. The stock has a market capitalization of $49.62 billion, a price-to-earnings ratio of 41.33, a PEG ratio of 2.17 and a beta of 0.72. L3Harris Technologies, Inc. has a one year low of $182.01 and a one year high of $265.74. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87. The business’s fifty day moving average is $241.43 and its 200-day moving average is $231.15.

L3Harris Technologies (NYSE:LHX) last announced 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 return on equity of 13.11% and a net margin of 5.71%. The company had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.28 billion. During the same quarter last year, the firm posted $3.19 EPS. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. Equities research analysts predict that L3Harris Technologies, Inc. will post 13.09 EPS for the current year.

L3Harris Technologies Dividend Announcement

The business 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 dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date is Monday, November 18th. 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.