Cordatus Wealth Management LLC Purchases 133 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Cordatus Wealth Management LLC increased its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 1.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 7,252 shares of the company’s stock after purchasing an additional 133 shares during the quarter. Cordatus Wealth Management LLC’s holdings in L3Harris Technologies were worth $1,725,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Meeder Asset Management Inc. lifted its holdings in shares of L3Harris Technologies by 260.6% during the second quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock worth $27,000 after buying an additional 86 shares in the last quarter. EntryPoint Capital LLC raised its stake 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 purchasing an additional 69 shares in the last quarter. Versant Capital Management Inc boosted its holdings in L3Harris Technologies by 77.7% in the 2nd quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock valued at $41,000 after purchasing an additional 80 shares during the period. Family Firm Inc. acquired a new position in shares of L3Harris Technologies during the 2nd quarter worth approximately $45,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of L3Harris Technologies during the 2nd quarter worth approximately $57,000. 84.76% of the stock is currently owned by institutional investors.

Insider Buying and Selling 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 shares were sold at an average price of $244.68, for a total transaction of $731,103.84. Following the sale, the insider now directly owns 13,328 shares in the company, valued at $3,261,095.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.82% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Truist Financial lifted their price target on shares of L3Harris Technologies from $293.00 to $300.00 and gave the company a “buy” rating in a research report on Monday. StockNews.com raised L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday. Citigroup increased their target price on L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Wolfe Research raised L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target for the company in a research note on Thursday, October 10th. Finally, Barclays upped their price objective on shares of L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $264.07.

L3Harris Technologies Price Performance

Shares of L3Harris Technologies stock traded up $0.18 during midday trading on Thursday, hitting $245.59. 234,770 shares of the company traded hands, compared to its average volume of 907,098. The stock has a market cap of $46.59 billion, a price-to-earnings ratio of 40.09, a PEG ratio of 2.10 and a beta of 0.73. 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 firm’s fifty day moving average price is $238.05 and its 200-day moving average price is $228.24. L3Harris Technologies, Inc. has a 12 month low of $176.15 and a 12 month high of $258.89.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, topping analysts’ consensus estimates of $3.27 by $0.07. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The firm had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.28 billion. During the same quarter in the previous year, the firm posted $3.19 earnings per share. The company’s revenue was up 7.7% on a year-over-year basis. As a group, sell-side analysts forecast that L3Harris Technologies, Inc. will post 13.06 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

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