L3Harris Technologies, Inc. (NYSE:LHX) Shares Purchased by KCM Investment Advisors LLC

KCM Investment Advisors LLC lifted its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 43.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 19,273 shares of the company’s stock after purchasing an additional 5,868 shares during the quarter. KCM Investment Advisors LLC’s holdings in L3Harris Technologies were worth $4,584,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Meeder Asset Management Inc. grew its position in L3Harris Technologies by 260.6% in the second quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock worth $27,000 after acquiring an additional 86 shares during the period. Archer Investment Corp grew its position in L3Harris Technologies by 48.9% in the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after acquiring an additional 43 shares during the period. EntryPoint Capital LLC boosted its position in shares of L3Harris Technologies by 70.4% during the first quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock worth $36,000 after buying an additional 69 shares during the period. Kennebec Savings Bank purchased a new position in shares of L3Harris Technologies during the third quarter worth $36,000. Finally, Versant Capital Management Inc boosted its position in shares of L3Harris Technologies by 77.7% during the second quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock worth $41,000 after buying an additional 80 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Bank of America upgraded L3Harris Technologies from a “neutral” rating to a “buy” rating and raised their price target for the stock from $240.00 to $300.00 in a research report on Thursday, October 31st. StockNews.com upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Morgan Stanley cut L3Harris Technologies from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $275.00 to $257.00 in a research report on Friday, August 9th. Royal Bank of Canada boosted their price target on L3Harris Technologies from $240.00 to $265.00 and gave the company a “sector perform” rating in a research report on Monday, October 28th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a research report on Thursday, October 3rd. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $267.50.

Insider Buying and Selling

In related news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $244.68, for a total transaction of $731,103.84. Following the sale, the insider now owns 13,328 shares in the company, valued at $3,261,095.04. This represents a 18.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 8,964 shares of company stock worth $2,179,119 over the last quarter. 0.82% of the stock is owned by company insiders.

L3Harris Technologies Stock Down 0.8 %

NYSE:LHX traded down $1.89 on Friday, reaching $246.27. The stock had a trading volume of 200,027 shares, compared to its average volume of 904,503. 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 50-day moving average of $242.77 and a 200 day moving average of $231.81. The stock has a market cap of $46.71 billion, a P/E ratio of 39.24, a price-to-earnings-growth ratio of 2.18 and a beta of 0.72. L3Harris Technologies, Inc. has a 12-month low of $184.34 and a 12-month high of $265.74.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, October 24th. The company reported $3.34 EPS 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 business had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.28 billion. During the same quarter last year, the company posted $3.19 earnings per share. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, research analysts predict that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The firm 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. The ex-dividend date is Monday, November 18th. This represents a $4.64 annualized dividend and a yield of 1.88%. L3Harris Technologies’s dividend payout ratio (DPR) is 73.30%.

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.