Carmel Capital Partners LLC Purchases 124 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Carmel Capital Partners LLC boosted its position in L3Harris Technologies, Inc. (NYSE:LHX) by 11.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,237 shares of the company’s stock after acquiring an additional 124 shares during the period. Carmel Capital Partners LLC’s holdings in L3Harris Technologies were worth $294,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Meeder Asset Management Inc. grew its holdings in L3Harris Technologies by 260.6% in the 2nd 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. EntryPoint Capital LLC grew its holdings in L3Harris Technologies by 70.4% in the 1st quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock worth $36,000 after acquiring an additional 69 shares during the last quarter. Versant Capital Management Inc grew its holdings in L3Harris Technologies by 77.7% in the 2nd quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock worth $41,000 after acquiring an additional 80 shares during the last quarter. Family Firm Inc. bought a new stake in shares of L3Harris Technologies during the 2nd quarter valued at about $45,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of L3Harris Technologies during the 2nd quarter valued at about $57,000. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Up 2.2 %

Shares of L3Harris Technologies stock opened at $260.49 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 stock has a market capitalization of $49.41 billion, a PE ratio of 41.15, a price-to-earnings-growth ratio of 2.14 and a beta of 0.72. L3Harris Technologies, Inc. has a 52-week low of $179.56 and a 52-week high of $261.75. The company has a 50-day simple moving average of $240.87 and a two-hundred day simple moving average of $230.43.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 5.71% and a return on equity of 13.11%. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the company earned $3.19 earnings per share. On average, analysts anticipate that L3Harris Technologies, Inc. will post 13.09 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

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. The ex-dividend date is Monday, November 18th. This represents a $4.64 annualized dividend and a dividend yield of 1.78%. L3Harris Technologies’s payout ratio is 73.30%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. 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, October 28th. Susquehanna lifted their target price on shares of L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research note on Monday, July 29th. Barclays lifted their target price on shares of L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Royal Bank of Canada lifted their target price on shares of L3Harris Technologies from $240.00 to $265.00 and gave the company a “sector perform” rating in a research note on Monday, October 28th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $267.50.

Insider Activity

In other news, insider Ross Niebergall sold 2,988 shares of the business’s 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 transaction, the insider now directly owns 13,328 shares of the company’s stock, valued at $3,261,095.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 8,964 shares of company stock valued at $2,179,119 over the last three months. Insiders own 0.82% of the company’s stock.

L3Harris Technologies 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.