Axxcess Wealth Management LLC Increases Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Axxcess Wealth Management LLC lifted its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 37.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,695 shares of the company’s stock after purchasing an additional 1,828 shares during the quarter. Axxcess Wealth Management LLC’s holdings in L3Harris Technologies were worth $1,592,000 at the end of the most recent quarter.

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

L3Harris Technologies Stock Up 1.4 %

LHX opened at $264.25 on Tuesday. L3Harris Technologies, Inc. has a 12 month low of $182.01 and a 12 month high of $265.74. The stock’s 50 day moving average price is $240.87 and its 200 day moving average price is $230.75. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87. The stock has a market cap of $50.12 billion, a P/E ratio of 41.95, a P/E/G ratio of 2.17 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, topping analysts’ consensus estimates of $3.27 by $0.07. The firm 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 firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.19 earnings per share. As a group, research analysts predict that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Monday, November 18th. This represents a $4.64 annualized dividend and a yield of 1.76%. L3Harris Technologies’s dividend payout ratio (DPR) is 73.30%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Citigroup raised their target price on L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Wells Fargo & Company raised their price objective on shares of L3Harris Technologies from $260.00 to $295.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Morgan Stanley downgraded 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 report on Friday, August 9th. 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 note on Monday, July 29th. Finally, Bank of America upgraded shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $240.00 to $300.00 in a research note on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $267.50.

Insider Transactions at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $236.68, for a total value of $707,199.84. Following the completion of the transaction, the insider now owns 16,316 shares of the company’s stock, valued at approximately $3,861,670.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold 8,964 shares of company stock valued at $2,179,119 over the last three months. Company insiders own 0.82% of the company’s stock.

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.