BlueCrest Capital Management Ltd Invests $285,000 in L3Harris Technologies, Inc. (NYSE:LHX)

BlueCrest Capital Management Ltd purchased a new position in L3Harris Technologies, Inc. (NYSE:LHX) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,200 shares of the company’s stock, valued at approximately $285,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. KCM Investment Advisors LLC increased its position in shares of L3Harris Technologies by 43.8% in the 3rd quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company’s stock worth $4,584,000 after purchasing an additional 5,868 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in L3Harris Technologies by 17.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 43,838 shares of the company’s stock valued at $9,845,000 after buying an additional 6,634 shares during the last quarter. Creative Planning raised its stake in L3Harris Technologies by 1.2% during the third quarter. Creative Planning now owns 41,588 shares of the company’s stock valued at $9,893,000 after buying an additional 512 shares in the last quarter. Manning & Napier Advisors LLC acquired a new stake in L3Harris Technologies during the second quarter valued at approximately $210,886,000. Finally, Janney Montgomery Scott LLC bought a new position in L3Harris Technologies during the 3rd quarter worth approximately $35,904,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $236.68, for a total transaction of $707,199.84. Following the completion of the transaction, the insider now owns 16,316 shares of the company’s stock, valued at $3,861,670.88. This trade represents a 15.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold a total of 8,964 shares of company stock valued at $2,179,119 over the last quarter. Corporate insiders own 0.82% of the company’s stock.

L3Harris Technologies Trading Up 0.3 %

Shares of LHX stock opened at $246.13 on Friday. L3Harris Technologies, Inc. has a 1 year low of $188.95 and a 1 year high of $265.74. The firm has a market capitalization of $46.68 billion, a PE ratio of 38.88, a price-to-earnings-growth ratio of 2.05 and a beta of 0.72. The stock has a fifty day moving average of $246.22 and a two-hundred day moving average of $234.06. 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 earnings per share 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 net margin of 5.71% and a return on equity of 13.11%. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.19 earnings per share. As a group, research analysts expect that L3Harris Technologies, Inc. will post 13.09 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be paid a dividend of $1.16 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.89%. L3Harris Technologies’s dividend payout ratio is presently 73.30%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on LHX shares. Wolfe Research raised L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target on the stock in a research report on Thursday, October 10th. Citigroup boosted their target price on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Argus upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price target on the stock in a research report on Tuesday. Bank of America raised shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $240.00 to $300.00 in a research report on Thursday, October 31st. Finally, Royal Bank of Canada increased their price objective 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. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $269.67.

L3Harris Technologies Company 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.