HM Payson & Co. Purchases 17,786 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

HM Payson & Co. lifted its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 4.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 454,471 shares of the company’s stock after acquiring an additional 17,786 shares during the period. L3Harris Technologies makes up approximately 1.9% of HM Payson & Co.’s portfolio, making the stock its 12th largest position. HM Payson & Co. owned approximately 0.24% of L3Harris Technologies worth $108,105,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in LHX. Cornerstone Wealth Group LLC grew its position in L3Harris Technologies by 3.0% in the 3rd quarter. Cornerstone Wealth Group LLC now owns 14,066 shares of the company’s stock worth $3,346,000 after purchasing an additional 408 shares during the period. Tandem Capital Management Corp ADV lifted its position in L3Harris Technologies by 4.4% during the third quarter. Tandem Capital Management Corp ADV now owns 8,067 shares of the company’s stock valued at $1,919,000 after purchasing an additional 342 shares in the last quarter. Pinnacle Associates Ltd. lifted its position in shares of L3Harris Technologies by 1.3% during the 3rd quarter. Pinnacle Associates Ltd. now owns 27,332 shares of the company’s stock valued at $6,501,000 after buying an additional 345 shares in the last quarter. First Trust Direct Indexing L.P. grew its stake in shares of L3Harris Technologies by 4.0% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 5,856 shares of the company’s stock valued at $1,393,000 after acquiring an additional 224 shares during the period. Finally, Adell Harriman & Carpenter Inc. raised its stake in L3Harris Technologies by 2.1% during the 3rd quarter. Adell Harriman & Carpenter Inc. now owns 3,347 shares of the company’s stock worth $796,000 after acquiring an additional 69 shares during the period. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

L3Harris Technologies Trading Up 0.8 %

LHX stock traded up $2.06 during mid-day trading on Thursday, reaching $247.47. The company had a trading volume of 32,097 shares, compared to its average volume of 906,138. The firm has a 50 day moving average of $238.05 and a 200 day moving average of $228.24. L3Harris Technologies, Inc. has a 12 month low of $176.15 and a 12 month high of $258.89. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.90 and a quick ratio of 0.74. The company has a market capitalization of $46.95 billion, a PE ratio of 40.09, a price-to-earnings-growth ratio of 2.10 and a beta of 0.73.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, October 24th. The company reported $3.34 EPS for the quarter, beating the consensus estimate of $3.27 by $0.07. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The firm had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.28 billion. During the same quarter in the prior year, the business posted $3.19 EPS. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, equities analysts predict that L3Harris Technologies, Inc. will post 13.06 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be given a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Monday, November 18th. L3Harris Technologies’s payout ratio is currently 75.32%.

Analysts Set New Price Targets

LHX has been the subject of a number of analyst reports. Susquehanna increased their price objective on shares of L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft decreased their price target on L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Citigroup boosted their price target on L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. 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 report on Monday. Finally, Morgan Stanley cut L3Harris Technologies from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $275.00 to $257.00 in a report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $264.07.

Insider Buying and Selling at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $236.68, for a total transaction of $707,199.84. Following the sale, the insider now directly owns 16,316 shares of the company’s stock, valued at approximately $3,861,670.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.82% of the stock is currently owned by company insiders.

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.