L3Harris Technologies, Inc. (NYSE:LHX) Shares Bought by Horizon Kinetics Asset Management LLC

Horizon Kinetics Asset Management LLC boosted its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 70.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,605 shares of the company’s stock after acquiring an additional 6,861 shares during the quarter. Horizon Kinetics Asset Management LLC’s holdings in L3Harris Technologies were worth $3,950,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. EntryPoint Capital LLC grew its position in L3Harris Technologies by 70.4% in the 1st quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock valued at $36,000 after buying an additional 69 shares during the last quarter. Silvercrest Asset Management Group LLC boosted its holdings in shares of L3Harris Technologies by 1.8% in the first quarter. Silvercrest Asset Management Group LLC now owns 49,319 shares of the company’s stock valued at $10,510,000 after acquiring an additional 865 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its stake in shares of L3Harris Technologies by 2.8% during the first quarter. B. Riley Wealth Advisors Inc. now owns 7,074 shares of the company’s stock worth $1,507,000 after acquiring an additional 193 shares during the period. Coppell Advisory Solutions Corp. purchased a new position in L3Harris Technologies during the first quarter worth about $2,199,000. Finally, Comerica Bank lifted its position in L3Harris Technologies by 5.1% in the first quarter. Comerica Bank now owns 86,019 shares of the company’s stock valued at $18,331,000 after purchasing an additional 4,148 shares during the period. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $247.93, for a total transaction of $740,814.84. Following the completion of the transaction, the insider now directly owns 10,340 shares of the company’s stock, valued at approximately $2,563,596.20. This represents a 22.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 8,964 shares of company stock valued at $2,179,119 in the last quarter. Insiders own 0.87% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on LHX. Deutsche Bank Aktiengesellschaft dropped 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. Wolfe Research upgraded L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective for the company in a research 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 report on Monday, July 29th. Truist Financial increased their price target on shares of L3Harris Technologies from $293.00 to $300.00 and gave the company a “buy” rating in a report on Monday, October 28th. Finally, StockNews.com raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, L3Harris Technologies has an average rating of “Moderate Buy” and an average price target of $267.50.

L3Harris Technologies Stock Performance

L3Harris Technologies stock opened at $246.21 on Monday. The firm has a market capitalization of $46.70 billion, a PE ratio of 39.20, a price-to-earnings-growth ratio of 2.07 and a beta of 0.72. L3Harris Technologies, Inc. has a one year low of $187.37 and a one year high of $265.74. The stock’s 50 day moving average price is $244.86 and its 200 day moving average price is $233.39. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04.

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

L3Harris Technologies Dividend Announcement

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

About L3Harris Technologies

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.