Raymond James & Associates Boosts Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Raymond James & Associates increased its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 3.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 984,888 shares of the company’s stock after acquiring an additional 28,882 shares during the period. Raymond James & Associates’ holdings in L3Harris Technologies were worth $234,275,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in LHX. Meeder Asset Management Inc. raised its stake in shares of L3Harris Technologies by 260.6% during the second quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock worth $27,000 after acquiring an additional 86 shares in the last quarter. EntryPoint Capital LLC raised its position in L3Harris Technologies by 70.4% in the 1st quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock worth $36,000 after purchasing an additional 69 shares during the period. Versant Capital Management Inc lifted its stake in L3Harris Technologies by 77.7% in the second quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock worth $41,000 after purchasing an additional 80 shares during the last quarter. Family Firm Inc. purchased a new stake in L3Harris Technologies during the second quarter valued at about $45,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of L3Harris Technologies during the second quarter valued at about $57,000. Institutional investors own 84.76% of the company’s stock.

Wall Street Analysts Forecast Growth

LHX has been the subject of several analyst reports. Wells Fargo & Company dropped their target price on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Truist Financial increased their price objective on L3Harris Technologies from $250.00 to $293.00 and gave the company a “buy” rating in a research note on Friday. Citigroup lifted their target price 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. Deutsche Bank Aktiengesellschaft dropped their price target on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Finally, Susquehanna boosted their price objective on shares of L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research report on Monday, July 29th. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $256.71.

Insider Activity

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

L3Harris Technologies Stock Up 0.2 %

Shares of NYSE:LHX opened at $248.78 on Friday. The firm has a market capitalization of $47.19 billion, a P/E ratio of 40.39, a P/E/G ratio of 2.08 and a beta of 0.73. 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 stock has a 50 day moving average price of $235.12 and a 200-day moving average price of $225.96. L3Harris Technologies, Inc. has a 52-week low of $169.55 and a 52-week high of $249.16.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, July 25th. The company reported $3.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.18 by $0.06. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The business had revenue of $5.30 billion during the quarter, compared to the consensus estimate of $5.30 billion. During the same quarter in the prior year, the company earned $2.97 earnings per share. The firm’s quarterly revenue was up 12.9% compared to the same quarter last year. As a group, equities research analysts anticipate that L3Harris Technologies, Inc. will post 13.06 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be paid a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend is Monday, November 18th. L3Harris Technologies’s dividend payout ratio is 75.32%.

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.