MGB Wealth Management LLC Raises Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

MGB Wealth Management LLC boosted its position in L3Harris Technologies, Inc. (NYSE:LHX) by 35.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,929 shares of the company’s stock after buying an additional 500 shares during the period. MGB Wealth Management LLC’s holdings in L3Harris Technologies were worth $459,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of LHX. EntryPoint Capital LLC boosted its position 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. Canada Pension Plan Investment Board boosted its position in L3Harris Technologies by 82.6% in the first quarter. Canada Pension Plan Investment Board now owns 115,145 shares of the company’s stock valued at $24,537,000 after buying an additional 52,081 shares during the last quarter. BOKF NA boosted its position in L3Harris Technologies by 48.1% in the first quarter. BOKF NA now owns 15,950 shares of the company’s stock valued at $3,327,000 after buying an additional 5,181 shares during the last quarter. Ascent Group LLC purchased a new stake in L3Harris Technologies in the first quarter valued at approximately $2,078,000. Finally, Econ Financial Services Corp purchased a new stake in L3Harris Technologies in the first quarter valued at approximately $496,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Morgan Stanley lowered L3Harris Technologies from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $275.00 to $257.00 in a research report on Friday, August 9th. Citigroup upped 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. Royal Bank of Canada upped their price objective on L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a research report on Monday, October 28th. Susquehanna upped their price objective on L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research report on Monday, July 29th. Finally, Wolfe Research upgraded L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective on the stock in a research report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $267.50.

Insider Activity at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $236.68, for a total transaction of $707,199.84. Following the completion of the transaction, the insider now directly owns 16,316 shares of the company’s stock, 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 filing with the SEC, which can be accessed through the SEC website. Insiders sold 8,964 shares of company stock worth $2,179,119 in the last three months. 0.82% of the stock is owned by company insiders.

L3Harris Technologies Stock Up 0.6 %

Shares of LHX opened at $248.16 on Friday. L3Harris Technologies, Inc. has a 52-week low of $187.37 and a 52-week high of $265.74. The company has a market capitalization of $47.07 billion, a PE ratio of 39.20, a price-to-earnings-growth ratio of 2.06 and a beta of 0.72. The stock has a fifty day simple moving average of $244.86 and a two-hundred day simple moving average of $233.27. 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 released its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, topping analysts’ consensus estimates of $3.27 by $0.07. The business had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.28 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The company’s revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business posted $3.19 EPS. As a group, equities analysts forecast that L3Harris Technologies, Inc. will post 13.09 EPS for the current year.

L3Harris Technologies Announces Dividend

The firm also recently declared 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 1.87%. The ex-dividend date of this dividend is Monday, November 18th. L3Harris Technologies’s dividend payout ratio is presently 73.30%.

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.