Peapack Gladstone Financial Corp Boosts Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Peapack Gladstone Financial Corp lifted its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 0.5% in the third quarter, Holdings Channel reports. The firm owned 41,577 shares of the company’s stock after buying an additional 194 shares during the period. Peapack Gladstone Financial Corp’s holdings in L3Harris Technologies were worth $9,890,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Meeder Asset Management Inc. boosted 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 buying an additional 86 shares during the last quarter. Archer Investment Corp lifted its position in shares of L3Harris Technologies by 48.9% in the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after acquiring an additional 43 shares in the last quarter. Kennebec Savings Bank acquired a new stake in shares of L3Harris Technologies in the third quarter worth approximately $36,000. Family Firm Inc. purchased a new stake in shares of L3Harris Technologies during the second quarter worth approximately $45,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in L3Harris Technologies in the 2nd quarter valued at $57,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $247.93, for a total transaction of $740,814.84. Following the sale, the insider now directly owns 10,340 shares in the company, valued at $2,563,596.20. This represents a 22.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.82% of the stock is currently owned by corporate insiders.

L3Harris Technologies Price Performance

L3Harris Technologies stock opened at $223.16 on Friday. The company’s 50 day simple moving average is $245.13 and its 200-day simple moving average is $234.75. 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 1 year low of $200.18 and a 1 year high of $265.74. The company has a market capitalization of $42.33 billion, a price-to-earnings ratio of 35.25, a price-to-earnings-growth ratio of 1.91 and a beta of 0.72.

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

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Monday, November 18th were paid a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend was Monday, November 18th. L3Harris Technologies’s payout ratio is 73.30%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on LHX. Deutsche Bank Aktiengesellschaft lowered their target price on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. Truist Financial boosted their price target on shares of L3Harris Technologies from $293.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Wolfe Research upgraded shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective for the company in a report on Thursday, October 10th. Argus upgraded L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 target price on the stock in a report on Tuesday, November 26th. Finally, Citigroup raised their target price on L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $269.13.

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.