L3Harris Technologies, Inc. (NYSE:LHX) Shares Bought by Advisors Asset Management Inc.

Advisors Asset Management Inc. boosted its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 33.0% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 24,873 shares of the company’s stock after purchasing an additional 6,174 shares during the period. Advisors Asset Management Inc.’s holdings in L3Harris Technologies were worth $5,917,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. KCM Investment Advisors LLC grew its position in L3Harris Technologies by 43.8% during the third quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company’s stock valued at $4,584,000 after buying an additional 5,868 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of L3Harris Technologies by 17.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 43,838 shares of the company’s stock worth $9,845,000 after acquiring an additional 6,634 shares in the last quarter. Creative Planning grew its position in shares of L3Harris Technologies by 1.2% during the 3rd quarter. Creative Planning now owns 41,588 shares of the company’s stock valued at $9,893,000 after acquiring an additional 512 shares during the period. Manning & Napier Advisors LLC purchased a new position in shares of L3Harris Technologies in the 2nd quarter valued at about $210,886,000. Finally, Janney Montgomery Scott LLC acquired a new position in L3Harris Technologies in the 3rd quarter worth about $35,904,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Activity

In other news, insider Ross Niebergall sold 2,988 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $236.68, for a total value of $707,199.84. Following the transaction, the insider now owns 16,316 shares of the company’s stock, valued at approximately $3,861,670.88. The trade was a 15.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last three months, insiders sold 8,964 shares of company stock valued at $2,179,119. Insiders own 0.82% of the company’s stock.

L3Harris Technologies Stock Up 0.9 %

LHX stock opened at $246.60 on Friday. The company’s 50 day moving average is $244.49 and its two-hundred day moving average is $232.91. L3Harris Technologies, Inc. has a twelve month low of $185.98 and a twelve month high of $265.74. 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 stock has a market cap of $46.77 billion, a P/E ratio of 38.96, a PEG ratio of 2.03 and a beta of 0.72.

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

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be issued a $1.16 dividend. The ex-dividend date is Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.88%. L3Harris Technologies’s payout ratio is 73.30%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on LHX shares. Morgan Stanley downgraded L3Harris Technologies from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $275.00 to $257.00 in a research note on Friday, August 9th. Wolfe Research raised shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective on the stock in a report on Thursday, October 10th. Susquehanna boosted their target price on shares of L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research note on Monday, July 29th. Bank of America upgraded L3Harris Technologies from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $240.00 to $300.00 in a report on Thursday, October 31st. Finally, Barclays increased their target price on L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $267.50.

L3Harris Technologies 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.