Tandem Capital Management Corp ADV Increases Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Tandem Capital Management Corp ADV lifted its position in L3Harris Technologies, Inc. (NYSE:LHX) by 4.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 8,067 shares of the company’s stock after purchasing an additional 342 shares during the period. Tandem Capital Management Corp ADV’s holdings in L3Harris Technologies were worth $1,919,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. First Trust Direct Indexing L.P. boosted its holdings in shares of L3Harris Technologies by 12.2% in the first quarter. First Trust Direct Indexing L.P. now owns 5,400 shares of the company’s stock worth $1,151,000 after buying an additional 586 shares during the last quarter. Leeward Investments LLC MA boosted its stake in shares of L3Harris Technologies by 3.8% during the 1st quarter. Leeward Investments LLC MA now owns 44,941 shares of the company’s stock worth $9,577,000 after acquiring an additional 1,646 shares during the last quarter. J.W. Cole Advisors Inc. grew its position in shares of L3Harris Technologies by 6.4% during the 1st quarter. J.W. Cole Advisors Inc. now owns 3,829 shares of the company’s stock valued at $807,000 after acquiring an additional 230 shares during the period. Diversify Advisory Services LLC purchased a new stake in shares of L3Harris Technologies in the 1st quarter worth $448,000. Finally, Peterson Wealth Services raised its holdings in L3Harris Technologies by 5.8% in the 1st quarter. Peterson Wealth Services now owns 1,432 shares of the company’s stock worth $305,000 after purchasing an additional 79 shares during the period. Institutional investors own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

LHX has been the subject of several recent research reports. Wells Fargo & Company boosted their price target on L3Harris Technologies from $260.00 to $295.00 and gave the company an “overweight” rating in a report on Monday. Barclays increased their target price on shares of L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Citigroup lifted their price target on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Susquehanna increased their price objective on shares of L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research note on Monday, July 29th. Finally, Truist Financial lifted their target price on shares of L3Harris Technologies from $293.00 to $300.00 and gave the company a “buy” rating in a research note on Monday. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $264.07.

Insider Activity

In related news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction dated 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 transaction, the insider now owns 16,316 shares in the company, valued at approximately $3,861,670.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.82% of the company’s stock.

L3Harris Technologies Price Performance

Shares of L3Harris Technologies stock opened at $245.54 on Thursday. The firm has a market cap of $46.58 billion, a PE ratio of 39.86, a PEG ratio of 2.10 and a beta of 0.73. The stock has a 50 day moving average of $238.05 and a 200 day moving average of $228.24. The company has a current ratio of 0.90, a quick ratio of 0.74 and a debt-to-equity ratio of 0.56. L3Harris Technologies, Inc. has a 12 month low of $176.15 and a 12 month high of $258.89.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, October 24th. The company reported $3.34 EPS for the quarter, beating analysts’ consensus estimates of $3.27 by $0.07. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The firm had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.28 billion. During the same period in the prior year, the company earned $3.19 EPS. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, research analysts expect that L3Harris Technologies, Inc. will post 13.06 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 1.89%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

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.