Bard Financial Services Inc. Purchases 300 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Bard Financial Services Inc. boosted its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 6.1% in the 4th quarter, Holdings Channel reports. The firm owned 5,250 shares of the company’s stock after buying an additional 300 shares during the period. Bard Financial Services Inc.’s holdings in L3Harris Technologies were worth $1,104,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Envestnet Asset Management Inc. boosted its stake 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 buying an additional 695,582 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of L3Harris Technologies by 29.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock valued at $184,245,000 after purchasing an additional 178,407 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in L3Harris Technologies by 65.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 434,287 shares of the company’s stock worth $97,532,000 after purchasing an additional 171,420 shares in the last quarter. International Assets Investment Management LLC lifted its stake in L3Harris Technologies by 23,627.0% in the 3rd quarter. International Assets Investment Management LLC now owns 170,597 shares of the company’s stock valued at $40,580,000 after purchasing an additional 169,878 shares during the last quarter. Finally, Mizuho Markets Americas LLC boosted its position in L3Harris Technologies by 25.3% in the third quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company’s stock valued at $195,704,000 after buying an additional 166,262 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on LHX. Truist Financial increased their price target on L3Harris Technologies from $293.00 to $300.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Wells Fargo & Company dropped their target price on L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating for the company in a research report on Wednesday, December 11th. Barclays reduced their price target on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a report on Monday. Royal Bank of Canada raised their price objective on shares of L3Harris Technologies from $240.00 to $265.00 and gave the company a “sector perform” rating in a report on Monday, October 28th. Finally, Citigroup boosted their target price on shares of L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $267.07.

L3Harris Technologies Trading Down 1.9 %

Shares of NYSE:LHX traded down $3.91 during midday trading on Monday, reaching $205.84. The company’s stock had a trading volume of 669,925 shares, compared to its average volume of 825,869. L3Harris Technologies, Inc. has a fifty-two week low of $200.18 and a fifty-two week high of $265.74. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04. The firm has a 50 day moving average price of $235.18 and a two-hundred day moving average price of $234.03. The firm has a market capitalization of $39.04 billion, a price-to-earnings ratio of 32.52, a PEG ratio of 1.86 and a beta of 0.75.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.27 by $0.07. The firm had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.28 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The company’s revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.19 earnings per share. As a group, analysts forecast that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Monday, November 18th were issued a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date was Monday, November 18th. L3Harris Technologies’s payout ratio is 73.30%.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Ross Niebergall sold 1,764 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $223.62, for a total value of $394,465.68. Following the completion of the sale, the insider now directly owns 8,576 shares in the company, valued at $1,917,765.12. This trade represents a 17.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Over the last ninety days, insiders sold 7,889 shares of company stock valued at $1,800,572. Corporate insiders own 0.82% of the company’s stock.

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.