Geode Capital Management LLC Increases Position in L3Harris Technologies, Inc. (NYSE:LHX)

Geode Capital Management LLC lifted its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 1.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,734,832 shares of the company’s stock after purchasing an additional 59,008 shares during the period. Geode Capital Management LLC’s holdings in L3Harris Technologies were worth $1,122,630,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of LHX. Meeder Asset Management Inc. increased its stake in shares of L3Harris Technologies by 260.6% in the 2nd quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock valued at $27,000 after purchasing an additional 86 shares in the last quarter. Archer Investment Corp increased its stake in L3Harris Technologies by 48.9% during the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after buying an additional 43 shares in the last quarter. Kennebec Savings Bank purchased a new stake in L3Harris Technologies during the 3rd quarter worth approximately $36,000. Family Firm Inc. purchased a new stake in L3Harris Technologies during the 2nd quarter worth approximately $45,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in L3Harris Technologies during the 2nd quarter worth approximately $57,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Trading Up 0.3 %

LHX opened at $230.51 on Wednesday. L3Harris Technologies, Inc. has a one year low of $196.42 and a one year high of $265.74. The stock has a market capitalization of $43.72 billion, a PE ratio of 36.42, a P/E/G ratio of 1.96 and a beta of 0.72. The business’s 50 day moving average price is $246.53 and its 200 day moving average price is $234.82. 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 firm 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 firm posted $3.19 earnings per share. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. As a group, equities research analysts expect that L3Harris Technologies, Inc. will post 13.09 EPS for the current year.

L3Harris Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Monday, November 18th were paid a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date was Monday, November 18th. L3Harris Technologies’s dividend payout ratio (DPR) is 73.30%.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $247.93, for a total transaction of $740,814.84. Following the transaction, the insider now directly owns 10,340 shares in the company, valued at $2,563,596.20. This represents a 22.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.82% of the stock is owned by insiders.

Analysts Set New Price Targets

LHX has been the subject of several research reports. Argus upgraded L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price objective for the company in a research note on Tuesday, November 26th. Deutsche Bank Aktiengesellschaft cut their price objective on L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a research note on Thursday, October 3rd. Wells Fargo & Company boosted their price objective on L3Harris Technologies from $260.00 to $295.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. StockNews.com upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. Finally, Wolfe Research upgraded L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target for the company in a research report on Thursday, October 10th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $269.67.

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.