2,931 L3Harris Technologies Inc $LHX Shares Acquired by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. raised its holdings in L3Harris Technologies Inc (NYSE:LHX) by 9.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 33,429 shares of the company’s stock after buying an additional 2,931 shares during the period. Rakuten Investment Management Inc.’s holdings in L3Harris Technologies were worth $7,905,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LHX. Parr Mcknight Wealth Management Group LLC raised its holdings in L3Harris Technologies by 9.7% during the third quarter. Parr Mcknight Wealth Management Group LLC now owns 15,829 shares of the company’s stock worth $3,748,000 after acquiring an additional 1,396 shares in the last quarter. Provenance Wealth Advisors LLC boosted its position in L3Harris Technologies by 2,207.1% during the third quarter. Provenance Wealth Advisors LLC now owns 3,576 shares of the company’s stock valued at $847,000 after purchasing an additional 3,421 shares during the last quarter. Associated Banc Corp acquired a new position in L3Harris Technologies during the third quarter valued at approximately $451,000. Legacy Wealth Management LLC MS grew its stake in L3Harris Technologies by 0.8% in the third quarter. Legacy Wealth Management LLC MS now owns 12,058 shares of the company’s stock valued at $2,855,000 after purchasing an additional 98 shares in the last quarter. Finally, Tucker Asset Management LLC grew its stake in L3Harris Technologies by 4.8% in the third quarter. Tucker Asset Management LLC now owns 1,429 shares of the company’s stock valued at $338,000 after purchasing an additional 65 shares in the last quarter. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies Trading Down 0.3%

Shares of NYSE:LHX opened at $258.88 on Friday. L3Harris Technologies Inc has a 52-week low of $232.34 and a 52-week high of $379.23. The company has a market capitalization of $48.20 billion, a P/E ratio of 24.15, a price-to-earnings-growth ratio of 1.59 and a beta of 0.47. The company has a 50-day simple moving average of $250.19 and a 200 day simple moving average of $303.58. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.05 and a current ratio of 1.20.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, October 29th. The company reported $3.28 earnings per share for the quarter, topping analysts’ consensus estimates of $2.95 by $0.33. The firm had revenue of $6.07 billion for the quarter, compared to the consensus estimate of $5.92 billion. L3Harris Technologies had a return on equity of 11.49% and a net margin of 8.76%. The business’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.70 earnings per share. Sell-side analysts forecast that L3Harris Technologies Inc will post 12.04 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, December 4th will be given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, December 4th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 46.64%.

Analysts Set New Price Targets

LHX has been the topic of several recent analyst reports. BNP Paribas Exane lowered their price target on L3Harris Technologies from $330.00 to $310.00 and set a “neutral” rating on the stock in a research report on Thursday, July 30th. TD Cowen cut their price objective on L3Harris Technologies from $370.00 to $280.00 and set a “buy” rating for the company in a report on Friday, October 9th. Weiss Ratings downgraded L3Harris Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, September 10th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of L3Harris Technologies in a research note on Tuesday, August 18th. Finally, Royal Bank Of Canada boosted their target price on shares of L3Harris Technologies from $265.00 to $295.00 and gave the stock a “sector perform” rating in a report on Friday, October 30th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, L3Harris Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $345.60.

L3Harris Technologies Company Profile

L3Harris Technologies, Inc is a technology and defense company that develops products and systems for government and commercial customers. Its offerings support aerospace, defense, space, communications, intelligence, surveillance and reconnaissance, electronic warfare, missile defense, and aviation missions.

The company provides secure communications equipment, tactical radios, sensors, avionics, electronic warfare systems, missile and air defense technologies, space payloads and systems, and other mission-critical solutions.