Wilmington Savings Fund Society FSB Purchases Shares of 7,165 L3Harris Technologies, Inc. (NYSE:LHX)

Wilmington Savings Fund Society FSB acquired a new stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,165 shares of the company’s stock, valued at approximately $1,704,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. World Investment Advisors LLC boosted its holdings in L3Harris Technologies by 220.3% in the third quarter. World Investment Advisors LLC now owns 32,580 shares of the company’s stock worth $7,750,000 after acquiring an additional 22,407 shares in the last quarter. Sanctuary Advisors LLC lifted its holdings in shares of L3Harris Technologies by 13.9% in the 3rd quarter. Sanctuary Advisors LLC now owns 30,634 shares of the company’s stock worth $7,602,000 after purchasing an additional 3,740 shares in the last quarter. Hohimer Wealth Management LLC grew its position in L3Harris Technologies by 3.3% in the 3rd quarter. Hohimer Wealth Management LLC now owns 4,651 shares of the company’s stock valued at $1,106,000 after purchasing an additional 149 shares during the period. TD Private Client Wealth LLC increased its stake in L3Harris Technologies by 2.2% during the 3rd quarter. TD Private Client Wealth LLC now owns 7,335 shares of the company’s stock valued at $1,745,000 after purchasing an additional 156 shares in the last quarter. Finally, Fortem Financial Group LLC acquired a new position in L3Harris Technologies during the third quarter worth $841,000. Institutional investors own 84.76% of the company’s stock.

Analysts Set New Price Targets

LHX has been the subject of several recent research reports. Argus raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 target price for the company in a research report on Tuesday, November 26th. Bank of America raised L3Harris Technologies from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $240.00 to $300.00 in a report on Thursday, October 31st. Wolfe Research raised L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective for the company in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft cut their target price on L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a research report on Thursday, October 3rd. Finally, Citigroup increased their price target on L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $269.13.

Insider Activity

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $247.93, for a total value of $740,814.84. Following the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.82% of the stock is owned by company insiders.

L3Harris Technologies Trading Down 0.5 %

Shares of LHX stock opened at $223.16 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The firm has a market cap of $42.33 billion, a P/E ratio of 35.25, a PEG ratio of 1.91 and a beta of 0.72. The company has a 50 day moving average of $245.13 and a 200-day moving average of $234.75. L3Harris Technologies, Inc. has a 12-month low of $200.18 and a 12-month high of $265.74.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data 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. The business had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.28 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business posted $3.19 EPS. Sell-side analysts anticipate that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Monday, November 18th were issued a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date was Monday, November 18th. L3Harris Technologies’s payout ratio is 73.30%.

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.