Catalytic Wealth RIA LLC Acquires Shares of 1,141 L3Harris Technologies, Inc. (NYSE:LHX)

Catalytic Wealth RIA LLC bought a new position in L3Harris Technologies, Inc. (NYSE:LHX) in the 3rd quarter, HoldingsChannel.com reports. The firm bought 1,141 shares of the company’s stock, valued at approximately $271,000.

Several other institutional investors and hedge funds also recently made changes to their positions in LHX. Empowered Funds LLC increased its stake in L3Harris Technologies by 201.4% in the 1st quarter. Empowered Funds LLC now owns 10,404 shares of the company’s stock valued at $2,217,000 after buying an additional 6,952 shares during the last quarter. Sei Investments Co. increased its position in shares of L3Harris Technologies by 1.8% during the first quarter. Sei Investments Co. now owns 171,514 shares of the company’s stock valued at $36,550,000 after acquiring an additional 3,099 shares during the last quarter. QRG Capital Management Inc. lifted its holdings in L3Harris Technologies by 6.3% during the first quarter. QRG Capital Management Inc. now owns 2,431 shares of the company’s stock worth $518,000 after acquiring an additional 145 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in L3Harris Technologies during the first quarter worth $228,000. Finally, State Board of Administration of Florida Retirement System boosted its position in L3Harris Technologies by 9.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 215,262 shares of the company’s stock worth $42,243,000 after purchasing an additional 18,631 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on LHX. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a research report on Thursday, October 3rd. Morgan Stanley lowered L3Harris Technologies from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $275.00 to $257.00 in a report on Friday, August 9th. Wells Fargo & Company boosted their target price on L3Harris Technologies from $260.00 to $295.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. StockNews.com upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. Finally, Barclays boosted their price objective on L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $267.50.

Insider Activity at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $236.68, for a total transaction of $707,199.84. Following the completion of the sale, the insider now directly owns 16,316 shares of the company’s stock, valued at approximately $3,861,670.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold 8,964 shares of company stock valued at $2,179,119 over the last three months. 0.82% of the stock is owned by corporate insiders.

L3Harris Technologies Stock Performance

NYSE LHX opened at $264.25 on Tuesday. The company’s 50 day simple moving average is $240.87 and its two-hundred day simple moving average is $230.75. The stock has a market capitalization of $50.12 billion, a PE ratio of 41.75, a P/E/G ratio of 2.17 and a beta of 0.72. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87. L3Harris Technologies, Inc. has a 1 year low of $182.01 and a 1 year high of $265.74.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data 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 company had revenue of $5.29 billion during 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 firm’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the company earned $3.19 earnings per share. Analysts predict that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be given a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend is Monday, November 18th. L3Harris Technologies’s dividend payout ratio (DPR) 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.