L3Harris Technologies, Inc. (NYSE:LHX) Stock Holdings Lifted by Metis Global Partners LLC

Metis Global Partners LLC lifted its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 1.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,061 shares of the company’s stock after acquiring an additional 91 shares during the quarter. Metis Global Partners LLC’s holdings in L3Harris Technologies were worth $1,442,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of LHX. 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 valued at $27,000 after purchasing an additional 86 shares during the last quarter. EntryPoint Capital LLC raised its holdings in L3Harris Technologies by 70.4% during the 1st quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock worth $36,000 after buying an additional 69 shares during the period. Kennebec Savings Bank purchased a new stake in L3Harris Technologies during the third quarter valued at about $36,000. Versant Capital Management Inc boosted its holdings in shares of L3Harris Technologies by 77.7% in the second quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock worth $41,000 after buying an additional 80 shares during the period. Finally, Family Firm Inc. purchased a new position in shares of L3Harris Technologies in the second quarter worth approximately $45,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Price Performance

Shares of LHX opened at $247.00 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04. The firm has a market cap of $46.85 billion, a PE ratio of 39.02, a PEG ratio of 2.18 and a beta of 0.72. The firm’s 50 day moving average price is $243.16 and its 200 day moving average price is $232.02. L3Harris Technologies, Inc. has a twelve month low of $184.34 and a twelve month high of $265.74.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.27 by $0.07. The business had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.28 billion. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. L3Harris Technologies’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.19 EPS. As a group, research analysts expect 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 dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date is Monday, November 18th. L3Harris Technologies’s dividend payout ratio is 73.30%.

Analyst Ratings Changes

Several equities research analysts recently commented on LHX shares. Truist Financial upped 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, October 28th. Susquehanna raised their target price on L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research report on Monday, July 29th. Wells Fargo & Company lifted their price target on L3Harris Technologies from $260.00 to $295.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Deutsche Bank Aktiengesellschaft reduced their price objective on L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a research note on Thursday, October 3rd. Finally, Morgan Stanley cut L3Harris Technologies from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $275.00 to $257.00 in a research note on Friday, August 9th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $267.50.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total transaction of $731,103.84. Following the completion of the sale, the insider now owns 13,328 shares of the company’s stock, valued at $3,261,095.04. This represents a 18.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders have sold 8,964 shares of company stock valued at $2,179,119. Corporate insiders own 0.82% of the company’s stock.

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.