First Horizon Advisors Inc. Acquires 146 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

First Horizon Advisors Inc. increased its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 0.3% during the third quarter, HoldingsChannel reports. The fund owned 49,697 shares of the company’s stock after acquiring an additional 146 shares during the quarter. First Horizon Advisors Inc.’s holdings in L3Harris Technologies were worth $11,822,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of LHX. Edgestream Partners L.P. lifted its position in shares of L3Harris Technologies by 151.6% during the first quarter. Edgestream Partners L.P. now owns 3,859 shares of the company’s stock valued at $822,000 after purchasing an additional 2,325 shares in the last quarter. O Shaughnessy Asset Management LLC grew its stake in L3Harris Technologies by 47.7% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 10,880 shares of the company’s stock valued at $2,319,000 after purchasing an additional 3,513 shares during the period. UniSuper Management Pty Ltd grew its stake in L3Harris Technologies by 291.5% in the 1st quarter. UniSuper Management Pty Ltd now owns 6,809 shares of the company’s stock valued at $1,451,000 after purchasing an additional 5,070 shares during the period. Bessemer Group Inc. grew its position in L3Harris Technologies by 111.6% during the first quarter. Bessemer Group Inc. now owns 13,629 shares of the company’s stock valued at $2,904,000 after buying an additional 7,187 shares during the period. Finally, Lake Street Advisors Group LLC purchased a new stake in L3Harris Technologies during the first quarter worth about $235,000. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Trading Down 0.3 %

LHX stock opened at $243.55 on Wednesday. The company has a market capitalization of $46.19 billion, a PE ratio of 38.48, a price-to-earnings-growth ratio of 2.06 and a beta of 0.72. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04. L3Harris Technologies, Inc. has a one year low of $184.34 and a one year high of $265.74. The company’s 50 day moving average price is $243.77 and its two-hundred day moving average price is $232.74.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, October 24th. The company reported $3.34 EPS for the quarter, topping analysts’ consensus estimates of $3.27 by $0.07. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The company had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.28 billion. During the same quarter last year, the company earned $3.19 EPS. The firm’s revenue was up 7.7% compared to the same quarter last year. As a group, analysts predict that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend is Monday, November 18th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 73.30%.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $236.68, for a total value of $707,199.84. Following the completion of the sale, the insider now owns 16,316 shares in the company, valued at approximately $3,861,670.88. The trade was a 15.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold 8,964 shares of company stock worth $2,179,119 in the last ninety days. 0.87% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on LHX shares. Bank of America raised L3Harris Technologies from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $240.00 to $300.00 in a report on Thursday, October 31st. Wolfe Research raised shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target on the stock in a report on Thursday, October 10th. StockNews.com upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Citigroup increased their price objective on L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, Wells Fargo & Company boosted their target price on L3Harris Technologies from $260.00 to $295.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $267.50.

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.