Carret Asset Management LLC Buys 1,040 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Carret Asset Management LLC lifted its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 6.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,168 shares of the company’s stock after purchasing an additional 1,040 shares during the period. Carret Asset Management LLC’s holdings in L3Harris Technologies were worth $4,322,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of LHX. Wealthcare Advisory Partners LLC bought a new position in L3Harris Technologies in the 1st quarter valued at $216,000. Wealth Enhancement Advisory Services LLC lifted its stake in shares of L3Harris Technologies by 18.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 37,204 shares of the company’s stock valued at $7,928,000 after acquiring an additional 5,877 shares during the period. Independence Bank of Kentucky boosted its holdings in L3Harris Technologies by 63.0% in the first quarter. Independence Bank of Kentucky now owns 515 shares of the company’s stock valued at $110,000 after acquiring an additional 199 shares during the last quarter. Founders Financial Securities LLC increased its position in L3Harris Technologies by 8.3% in the first quarter. Founders Financial Securities LLC now owns 1,726 shares of the company’s stock worth $368,000 after purchasing an additional 132 shares during the period. Finally, Successful Portfolios LLC bought a new stake in L3Harris Technologies during the 1st quarter worth about $210,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

NYSE LHX opened at $252.81 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.74 and a current ratio of 0.90. The stock has a market cap of $47.96 billion, a price-to-earnings ratio of 40.45, a PEG ratio of 2.10 and a beta of 0.73. The business has a 50 day simple moving average of $237.08 and a 200 day simple moving average of $227.34. L3Harris Technologies, Inc. has a 52-week low of $169.55 and a 52-week high of $258.89.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.27 by $0.07. The company 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 5.73% and a return on equity of 13.02%. The firm’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.19 earnings per share. Analysts anticipate that L3Harris Technologies, Inc. will post 13.06 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be issued a $1.16 dividend. 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 1.84%. L3Harris Technologies’s dividend payout ratio (DPR) is 74.24%.

Insider Transactions at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total value of $731,103.84. Following the sale, the insider now owns 13,328 shares of the company’s stock, valued at approximately $3,261,095.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.82% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on LHX shares. Citigroup raised 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. Wolfe Research raised shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective on the stock in a research note on Thursday, October 10th. Barclays upped their target price on shares of L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Royal Bank of Canada lowered L3Harris Technologies from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from $250.00 to $240.00 in a research report on Wednesday, August 14th. Finally, Wells Fargo & Company dropped their price objective on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, L3Harris Technologies currently has an average rating of “Moderate Buy” and an average price target of $256.71.

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.