Essex Savings Bank Raises Position in L3Harris Technologies, Inc. (NYSE:LHX)

Essex Savings Bank raised its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 1.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 5,931 shares of the company’s stock after buying an additional 100 shares during the quarter. Essex Savings Bank’s holdings in L3Harris Technologies were worth $1,411,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of LHX. Quantbot Technologies LP purchased a new stake in shares of L3Harris Technologies during the first quarter valued at approximately $1,586,000. Empowered Funds LLC increased its position in L3Harris Technologies by 201.4% in the first quarter. Empowered Funds LLC now owns 10,404 shares of the company’s stock worth $2,217,000 after buying an additional 6,952 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in L3Harris Technologies in the first quarter worth $4,177,000. Atomi Financial Group Inc. purchased a new stake in L3Harris Technologies in the first quarter worth $529,000. Finally, Sei Investments Co. increased its position in L3Harris Technologies by 1.8% in the first quarter. Sei Investments Co. now owns 171,514 shares of the company’s stock worth $36,550,000 after buying an additional 3,099 shares during the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total value of $731,103.84. Following the transaction, the insider now owns 13,328 shares in the company, valued at approximately $3,261,095.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders have sold 8,964 shares of company stock worth $2,179,119. Company insiders own 0.82% of the company’s stock.

Wall Street Analysts Forecast Growth

LHX has been the subject of a number of recent research reports. Wolfe Research raised L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price for the company in a research report on Thursday, October 10th. Truist Financial raised their target price on L3Harris Technologies from $293.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. StockNews.com raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Morgan Stanley lowered L3Harris Technologies from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $275.00 to $257.00 in a report on Friday, August 9th. Finally, Susquehanna raised their price target on L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a report on Monday, July 29th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $267.50.

L3Harris Technologies Trading Up 2.3 %

NYSE LHX opened at $260.60 on Friday. The stock’s 50-day simple moving average is $240.87 and its two-hundred day simple moving average is $230.43. L3Harris Technologies, Inc. has a twelve month low of $179.56 and a twelve month high of $261.75. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $49.43 billion, a price-to-earnings ratio of 41.17, a PEG ratio of 2.14 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, October 24th. The company reported $3.34 EPS for the quarter, topping the consensus estimate of $3.27 by $0.07. The firm had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.28 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.19 earnings per share. Research analysts forecast that L3Harris Technologies, Inc. will post 13.09 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 1.78%. L3Harris Technologies’s dividend payout ratio is currently 73.30%.

L3Harris Technologies 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.