Stanley Laman Group Ltd. Grows Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Stanley Laman Group Ltd. boosted its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 0.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,175 shares of the company’s stock after purchasing an additional 104 shares during the quarter. Stanley Laman Group Ltd.’s holdings in L3Harris Technologies were worth $4,323,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Park Avenue Securities LLC increased its stake in L3Harris Technologies by 20.9% in the 1st quarter. Park Avenue Securities LLC now owns 4,878 shares of the company’s stock valued at $1,040,000 after buying an additional 843 shares during the period. RFG Advisory LLC acquired a new position in L3Harris Technologies in the 1st quarter valued at $293,000. Sunbelt Securities Inc. increased its stake in L3Harris Technologies by 13.8% in the 1st quarter. Sunbelt Securities Inc. now owns 3,950 shares of the company’s stock valued at $842,000 after buying an additional 479 shares during the period. Bowman & Co S.C. increased its stake in L3Harris Technologies by 8.1% in the 1st quarter. Bowman & Co S.C. now owns 3,517 shares of the company’s stock valued at $749,000 after buying an additional 263 shares during the period. Finally, Wealthcare Advisory Partners LLC acquired a new position in L3Harris Technologies in the 1st quarter valued at $216,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Transactions at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $244.68, for a total transaction of $731,103.84. Following the completion of the sale, the insider now owns 13,328 shares of the company’s stock, valued at approximately $3,261,095.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.82% of the company’s stock.

L3Harris Technologies Trading Down 1.3 %

NYSE LHX opened at $244.93 on Wednesday. L3Harris Technologies, Inc. has a one year low of $169.55 and a one year high of $250.88. The company’s 50 day moving average price is $235.84 and its 200 day moving average price is $226.63. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.74 and a current ratio of 0.90. The firm has a market capitalization of $46.46 billion, a price-to-earnings ratio of 39.76, a PEG ratio of 2.08 and a beta of 0.73.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, July 25th. The company reported $3.24 EPS for the quarter, beating the consensus estimate of $3.18 by $0.06. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The firm had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.30 billion. During the same quarter last year, the firm posted $2.97 earnings per share. L3Harris Technologies’s revenue for the quarter was up 12.9% compared to the same quarter last year. On average, sell-side analysts predict that L3Harris Technologies, Inc. will post 13.06 EPS for the current year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be given a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 1.89%. The ex-dividend date is Monday, November 18th. L3Harris Technologies’s dividend payout ratio (DPR) is 75.32%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Wolfe Research raised shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target on the stock in a research note on Thursday, October 10th. Barclays upped their price target on shares of L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Royal Bank of Canada cut shares of L3Harris Technologies from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from $250.00 to $240.00 in a research note on Wednesday, August 14th. Morgan Stanley cut shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $275.00 to $257.00 in a research note on Friday, August 9th. Finally, Citigroup upped their price target on shares of L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $256.71.

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.