Traynor Capital Management Inc. Buys 2,287 Shares of L3Harris Technologies Inc $LHX

Traynor Capital Management Inc. raised its holdings in L3Harris Technologies Inc (NYSE:LHX) by 5.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 41,391 shares of the company’s stock after acquiring an additional 2,287 shares during the period. L3Harris Technologies comprises 0.7% of Traynor Capital Management Inc.’s holdings, making the stock its 26th biggest holding. Traynor Capital Management Inc.’s holdings in L3Harris Technologies were worth $12,641,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in LHX. Brighton Jones LLC raised its holdings in L3Harris Technologies by 233.9% in the 4th quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock valued at $901,000 after buying an additional 3,001 shares during the last quarter. V Square Quantitative Management LLC increased its stake in shares of L3Harris Technologies by 25.2% in the second quarter. V Square Quantitative Management LLC now owns 1,117 shares of the company’s stock valued at $280,000 after buying an additional 225 shares during the period. GC Wealth Management RIA LLC lifted its stake in shares of L3Harris Technologies by 58.0% in the second quarter. GC Wealth Management RIA LLC now owns 2,128 shares of the company’s stock worth $534,000 after acquiring an additional 781 shares during the period. Janney Montgomery Scott LLC increased its position in L3Harris Technologies by 20.6% during the 2nd quarter. Janney Montgomery Scott LLC now owns 193,381 shares of the company’s stock valued at $48,508,000 after purchasing an additional 33,019 shares during the period. Finally, Capital Investment Advisors LLC raised its holdings in L3Harris Technologies by 4.6% during the 2nd quarter. Capital Investment Advisors LLC now owns 7,687 shares of the company’s stock worth $1,928,000 after purchasing an additional 335 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on LHX shares. Vertical Research reissued a “buy” rating and issued a $355.00 price objective on shares of L3Harris Technologies in a research report on Tuesday, January 13th. UBS Group raised their price target on shares of L3Harris Technologies to $323.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. Wall Street Zen downgraded shares of L3Harris Technologies from a “strong-buy” rating to a “buy” rating in a research note on Sunday, January 11th. Weiss Ratings raised shares of L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, December 29th. Finally, Truist Financial set a $364.00 price target on L3Harris Technologies in a report on Wednesday, January 14th. Fourteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $315.73.

L3Harris Technologies Stock Up 0.0%

LHX stock opened at $360.61 on Thursday. L3Harris Technologies Inc has a fifty-two week low of $193.09 and a fifty-two week high of $362.42. The stock has a fifty day moving average of $305.40 and a 200-day moving average of $290.35. The company has a market capitalization of $67.45 billion, a price-to-earnings ratio of 38.73, a PEG ratio of 2.25 and a beta of 0.66. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.95 and a current ratio of 1.14.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, October 30th. The company reported $2.70 earnings per share for the quarter, topping analysts’ consensus estimates of $2.60 by $0.10. L3Harris Technologies had a net margin of 8.09% and a return on equity of 11.08%. The firm had revenue of $5.66 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same quarter last year, the business earned $3.34 earnings per share. The company’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, equities research analysts predict that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be paid a $1.25 dividend. The ex-dividend date is Friday, March 6th. This represents a $5.00 dividend on an annualized basis and a yield of 1.4%. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.20. L3Harris Technologies’s dividend payout ratio (DPR) is presently 51.56%.

Insider Activity

In other news, CEO Christopher E. Kubasik sold 14,171 shares of L3Harris Technologies stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $301.05, for a total value of $4,266,179.55. Following the completion of the transaction, the chief executive officer directly owned 144,426 shares in the company, valued at approximately $43,479,447.30. The trade was a 8.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.72% of the stock is currently owned by corporate insiders.

L3Harris Technologies Company Profile

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.