Whittier Trust Co. Acquires 90 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Whittier Trust Co. raised its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 7.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,254 shares of the company’s stock after purchasing an additional 90 shares during the period. Whittier Trust Co.’s holdings in L3Harris Technologies were worth $298,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LHX. Vanguard Group Inc. raised its position in shares of L3Harris Technologies by 12.9% during the first quarter. Vanguard Group Inc. now owns 22,792,779 shares of the company’s stock worth $4,857,141,000 after acquiring an additional 2,606,267 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in L3Harris Technologies by 0.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,631,207 shares of the company’s stock worth $2,052,411,000 after purchasing an additional 45,845 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of L3Harris Technologies by 19.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,174,181 shares of the company’s stock worth $712,858,000 after purchasing an additional 523,315 shares during the period. Allspring Global Investments Holdings LLC boosted its stake 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 purchasing an additional 27,763 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. increased its position in shares of L3Harris Technologies by 2.2% during the second quarter. Diamond Hill Capital Management Inc. now owns 1,489,129 shares of the company’s stock worth $334,429,000 after buying an additional 31,686 shares during the period. 84.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction 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 transaction, the insider now directly owns 13,328 shares of the company’s stock, valued at $3,261,095.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.82% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on LHX. Susquehanna boosted their target price on shares of L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a report on Monday, July 29th. Citigroup upped their target price on L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Truist Financial lifted their target price on L3Harris Technologies from $250.00 to $293.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Deutsche Bank Aktiengesellschaft dropped their price target on L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. Finally, Morgan Stanley downgraded shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $275.00 to $257.00 in a research report on Friday, August 9th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $256.71.

L3Harris Technologies Trading Up 0.4 %

NYSE:LHX opened at $245.82 on Thursday. 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, Inc. has a one year low of $169.55 and a one year high of $250.88. The company has a market cap of $46.63 billion, a PE ratio of 39.91, a PEG ratio of 2.08 and a beta of 0.73. The firm has a 50-day moving average of $236.24 and a 200-day moving average of $226.77.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, July 25th. The company reported $3.24 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 firm had revenue of $5.30 billion during the quarter, compared to analyst estimates of $5.30 billion. During the same period in the previous year, the company posted $2.97 EPS. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. As a group, equities research analysts expect that L3Harris Technologies, Inc. will post 13.06 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be issued a dividend of $1.16 per share. The ex-dividend date is Monday, November 18th. This represents a $4.64 annualized dividend and a yield of 1.89%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 75.32%.

About L3Harris Technologies

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.