Leo Wealth LLC Invests $208,000 in L3Harris Technologies, Inc. (NYSE:LHX)

Leo Wealth LLC purchased a new position in L3Harris Technologies, Inc. (NYSE:LHX) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 873 shares of the company’s stock, valued at approximately $208,000.

Other institutional investors also recently bought and sold shares of the company. Meeder Asset Management Inc. raised its stake in shares of L3Harris Technologies by 260.6% in the second quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock worth $27,000 after purchasing an additional 86 shares during the last quarter. EntryPoint Capital LLC increased its holdings in L3Harris Technologies by 70.4% in the 1st quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock worth $36,000 after buying an additional 69 shares in the last quarter. Versant Capital Management Inc raised its position in L3Harris Technologies by 77.7% in the 2nd quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock worth $41,000 after buying an additional 80 shares during the last quarter. Family Firm Inc. bought a new position in L3Harris Technologies during the 2nd quarter valued at about $45,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of L3Harris Technologies during the 2nd quarter valued at about $57,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on LHX. Wells Fargo & Company lowered their price objective on shares of L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Citigroup increased their price target on L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Royal Bank of Canada lowered L3Harris Technologies from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from $250.00 to $240.00 in a report on Wednesday, August 14th. Morgan Stanley downgraded L3Harris Technologies from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $275.00 to $257.00 in a report on Friday, August 9th. Finally, Susquehanna boosted their price target on L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research note on Monday, July 29th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, L3Harris Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $256.71.

Insider Buying and Selling

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $244.68, for a total transaction of $731,103.84. Following the completion of the sale, the insider now directly owns 13,328 shares of the company’s stock, valued at $3,261,095.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.82% of the stock is owned by insiders.

L3Harris Technologies Stock Performance

LHX opened at $245.82 on Thursday. The firm has a market cap of $46.63 billion, a P/E ratio of 39.91, a PEG ratio of 2.08 and a beta of 0.73. L3Harris Technologies, Inc. has a 1-year low of $169.55 and a 1-year high of $250.88. The company has a 50 day simple moving average of $236.24 and a two-hundred day simple moving average of $226.77. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.90 and a quick ratio of 0.74.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, July 25th. The company reported $3.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.18 by $0.06. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The business had revenue of $5.30 billion during the quarter, compared to analyst estimates of $5.30 billion. During the same quarter in the prior year, the business posted $2.97 EPS. L3Harris Technologies’s revenue for the quarter was up 12.9% compared to the same quarter last year. Equities analysts forecast that L3Harris Technologies, Inc. will post 13.06 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently announced 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. This represents a $4.64 annualized dividend and a yield of 1.89%. The ex-dividend date is Monday, November 18th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

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.