Kingsview Wealth Management LLC Raises Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Kingsview Wealth Management LLC lifted its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 7.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,292 shares of the company’s stock after purchasing an additional 306 shares during the period. Kingsview Wealth Management LLC’s holdings in L3Harris Technologies were worth $1,021,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in LHX. Bank of New York Mellon Corp lifted its stake in L3Harris Technologies by 19.7% in the second quarter. Bank of New York Mellon Corp now owns 3,174,181 shares of the company’s stock valued at $712,858,000 after buying an additional 523,315 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of L3Harris Technologies by 1.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,039,832 shares of the company’s stock valued at $485,215,000 after acquiring an additional 27,763 shares during the period. Massachusetts Financial Services Co. MA raised its position in L3Harris Technologies by 5.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,542,333 shares of the company’s stock valued at $366,875,000 after purchasing an additional 85,882 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its stake in L3Harris Technologies by 2.2% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 1,489,129 shares of the company’s stock worth $334,429,000 after purchasing an additional 31,686 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in L3Harris Technologies by 12.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,405,337 shares of the company’s stock valued at $315,611,000 after purchasing an additional 156,453 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Stock Performance

Shares of LHX stock opened at $245.57 on Wednesday. The stock has a fifty day moving average price of $245.35 and a 200 day moving average price of $233.72. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04. The stock has a market cap of $46.58 billion, a PE ratio of 38.79, a P/E/G ratio of 2.07 and a beta of 0.72. L3Harris Technologies, Inc. has a 1 year low of $187.37 and a 1 year high of $265.74.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.27 by $0.07. The business 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 business’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.19 EPS. 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 firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be given a $1.16 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.64 annualized dividend and a dividend yield of 1.89%. L3Harris Technologies’s dividend payout ratio is presently 73.30%.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction 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 sale, the insider now owns 13,328 shares in the company, valued at approximately $3,261,095.04. This represents a 18.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 8,964 shares of company stock valued at $2,179,119 in the last ninety days. Corporate insiders own 0.87% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Royal Bank of Canada increased their target price on shares of L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a research note on Monday, October 28th. Wolfe Research upgraded L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price on the stock in a research note on Thursday, October 10th. Truist Financial upped their price target on L3Harris Technologies from $293.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. 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 report on Thursday, October 31st. Finally, Morgan Stanley downgraded shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $275.00 to $257.00 in a research report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $269.67.

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.