Marco Investment Management LLC Raises Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Marco Investment Management LLC grew its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 1.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 24,377 shares of the company’s stock after buying an additional 320 shares during the quarter. Marco Investment Management LLC’s holdings in L3Harris Technologies were worth $5,799,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Meeder Asset Management Inc. lifted its stake in L3Harris Technologies by 260.6% in the second quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock worth $27,000 after acquiring an additional 86 shares during the last quarter. Archer Investment Corp grew its stake in shares of L3Harris Technologies by 48.9% during the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after purchasing an additional 43 shares in the last quarter. Kennebec Savings Bank purchased a new position in L3Harris Technologies in the third quarter valued at $36,000. EntryPoint Capital LLC increased its holdings in L3Harris Technologies by 70.4% in the first quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock valued at $36,000 after buying an additional 69 shares during the last quarter. Finally, Versant Capital Management Inc raised its stake in L3Harris Technologies by 77.7% in the second quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock valued at $41,000 after buying an additional 80 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LHX has been the topic of a number of recent analyst reports. Truist Financial increased their price objective on L3Harris Technologies from $293.00 to $300.00 and gave the company a “buy” rating in a report on Monday, October 28th. Citigroup raised their price objective on shares of L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. Barclays lifted their price target on shares of L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Finally, Wells Fargo & Company upped their price objective on shares of L3Harris Technologies from $260.00 to $295.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $267.50.

Insider Buying and Selling

In other 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 completion of the sale, the insider now directly owns 13,328 shares in the company, valued at approximately $3,261,095.04. This trade represents a 18.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 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.

L3Harris Technologies Stock Up 0.6 %

LHX opened at $248.16 on Friday. The business has a 50 day moving average price of $244.86 and a two-hundred day moving average price of $233.27. L3Harris Technologies, Inc. has a 52 week low of $187.37 and a 52 week high of $265.74. The company has a market cap of $47.07 billion, a PE ratio of 39.20, a P/E/G ratio of 2.06 and a beta of 0.72. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share (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 business had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same period in the previous year, the business posted $3.19 earnings per share. The business’s revenue was up 7.7% compared to the same quarter last year. As a group, research analysts anticipate that L3Harris Technologies, Inc. will post 13.09 EPS for the current year.

L3Harris Technologies Announces Dividend

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 paid 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 dividend payout ratio (DPR) is 73.30%.

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.