L3Harris Technologies, Inc. (NYSE:LHX) Position Increased by Eagle Asset Management Inc.

Eagle Asset Management Inc. raised its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 37.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 10,183 shares of the company’s stock after acquiring an additional 2,765 shares during the period. Eagle Asset Management Inc.’s holdings in L3Harris Technologies were worth $2,654,000 at the end of the most recent reporting period.

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

L3Harris Technologies Stock Down 3.0 %

L3Harris Technologies stock opened at $240.64 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58. L3Harris Technologies, Inc. has a 1-year low of $187.37 and a 1-year high of $265.74. The firm’s fifty day simple moving average is $245.04 and its 200-day simple moving average is $233.54. The company has a market capitalization of $45.64 billion, a P/E ratio of 38.02, a P/E/G ratio of 2.07 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, beating the consensus estimate of $3.27 by $0.07. The company had revenue of $5.29 billion for 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 business’s revenue was up 7.7% compared to the same quarter last year. During the same period last year, the company earned $3.19 earnings per share. Sell-side analysts forecast that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be issued a dividend of $1.16 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.64 annualized dividend and a yield of 1.93%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 73.30%.

Insider Activity

In related news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 10,340 shares in the company, valued at approximately $2,563,596.20. This trade represents a 22.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders have sold a total of 8,964 shares of company stock valued at $2,179,119 over the last 90 days. 0.87% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

LHX has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a research note on Thursday, October 3rd. Barclays lifted their price target on L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Royal Bank of Canada increased their price objective on L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a research note on Monday, October 28th. Morgan Stanley lowered L3Harris Technologies from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $275.00 to $257.00 in a research report on Friday, August 9th. Finally, Truist Financial upped their target price on L3Harris Technologies from $293.00 to $300.00 and gave the company 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 issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $267.50.

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.