Richard C. Young & CO. LTD. Has $16.39 Million Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Richard C. Young & CO. LTD. raised its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 1.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 68,921 shares of the company’s stock after purchasing an additional 661 shares during the quarter. L3Harris Technologies makes up about 1.8% of Richard C. Young & CO. LTD.’s investment portfolio, making the stock its 20th largest position. Richard C. Young & CO. LTD.’s holdings in L3Harris Technologies were worth $16,394,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Quest Partners LLC grew its stake in shares of L3Harris Technologies by 36,000.0% during the third quarter. Quest Partners LLC now owns 361 shares of the company’s stock valued at $86,000 after purchasing an additional 360 shares during the last quarter. MAI Capital Management lifted its holdings in L3Harris Technologies by 6.4% during the 3rd quarter. MAI Capital Management now owns 28,785 shares of the company’s stock worth $6,847,000 after buying an additional 1,732 shares in the last quarter. Aljian Capital Management LLC boosted its position in L3Harris Technologies by 12.9% in the 3rd quarter. Aljian Capital Management LLC now owns 7,804 shares of the company’s stock valued at $1,856,000 after buying an additional 891 shares during the last quarter. TrinityPoint Wealth LLC increased its stake in shares of L3Harris Technologies by 6.1% in the 3rd quarter. TrinityPoint Wealth LLC now owns 3,126 shares of the company’s stock valued at $744,000 after buying an additional 181 shares during the period. Finally, Glass Wealth Management Co LLC increased its stake in shares of L3Harris Technologies by 3.2% in the 3rd quarter. Glass Wealth Management Co LLC now owns 19,265 shares of the company’s stock valued at $4,583,000 after buying an additional 605 shares during the period. Institutional investors own 84.76% of the company’s stock.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total value of $731,103.84. Following the completion of the sale, the insider now directly owns 13,328 shares of the company’s stock, valued at $3,261,095.04. This represents a 18.31 % 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 three months, insiders have sold 8,964 shares of company stock valued at $2,179,119. Corporate insiders own 0.82% of the company’s stock.

L3Harris Technologies Stock Performance

Shares of LHX opened at $247.00 on Monday. 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 firm’s fifty day simple moving average is $243.16 and its two-hundred day simple moving average is $232.29. L3Harris Technologies, Inc. has a 12 month low of $184.34 and a 12 month high of $265.74. The stock has a market capitalization of $46.85 billion, a P/E ratio of 39.02, a price-to-earnings-growth ratio of 2.06 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $5.28 billion. During the same quarter in the previous year, the company earned $3.19 EPS. L3Harris Technologies’s quarterly revenue was up 7.7% compared to the same quarter last year. As a group, analysts predict that L3Harris Technologies, Inc. will post 13.09 EPS for the current year.

L3Harris Technologies Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms recently issued reports on LHX. Truist Financial raised their price target on L3Harris Technologies from $293.00 to $300.00 and gave the company a “buy” rating in a report on Monday, October 28th. Bank of America raised shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and raised their target price for the company from $240.00 to $300.00 in a research note on Thursday, October 31st. StockNews.com upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Barclays lifted their target price on shares of L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Finally, Wells Fargo & Company upped their target price on shares of L3Harris Technologies from $260.00 to $295.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. Four 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, the stock presently has an average rating of “Moderate Buy” and an average target price 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.