Deroy & Devereaux Private Investment Counsel Inc. Has $19.39 Million Position in L3Harris Technologies, Inc. (NYSE:LHX)

Deroy & Devereaux Private Investment Counsel Inc. raised its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 1.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 81,499 shares of the company’s stock after buying an additional 963 shares during the period. Deroy & Devereaux Private Investment Counsel Inc.’s holdings in L3Harris Technologies were worth $19,386,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of LHX. Vanguard Group Inc. boosted its stake in shares of L3Harris Technologies by 12.9% during the 1st quarter. Vanguard Group Inc. now owns 22,792,779 shares of the company’s stock valued at $4,857,141,000 after buying an additional 2,606,267 shares during the period. Manning & Napier Advisors LLC acquired a new stake in shares of L3Harris Technologies during the 2nd quarter valued at $210,886,000. Envestnet Asset Management Inc. boosted its stake in shares of L3Harris Technologies by 236.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 989,340 shares of the company’s stock valued at $222,186,000 after buying an additional 695,582 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of L3Harris Technologies by 19.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,174,181 shares of the company’s stock valued at $712,858,000 after buying an additional 523,315 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of L3Harris Technologies by 65.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 434,287 shares of the company’s stock valued at $97,532,000 after buying an additional 171,420 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on LHX. Susquehanna lifted their price objective 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 price objective 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. Morgan Stanley lowered shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $275.00 to $257.00 in a research note on Friday, August 9th. Truist Financial lifted their target price on shares of L3Harris Technologies from $293.00 to $300.00 and gave the stock a “buy” rating in a report on Monday. Finally, Wolfe Research upgraded shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price on the stock in a report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, L3Harris Technologies has an average rating of “Moderate Buy” and a consensus price target of $267.50.

Insider Activity at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $244.68, for a total value of $731,103.84. Following the sale, the insider now 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 legal filing with the SEC, which is available through this hyperlink. 0.82% of the stock is currently owned by insiders.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $247.47 on Friday. The firm’s 50-day moving average is $238.37 and its 200-day moving average is $228.37. L3Harris Technologies, Inc. has a 52-week low of $176.15 and a 52-week high of $258.89. 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 company has a market cap of $46.94 billion, a price-to-earnings ratio of 39.09, a PEG ratio of 2.10 and a beta of 0.73.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, beating analysts’ consensus estimates of $3.27 by $0.07. The business had revenue of $5.29 billion for 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 firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.19 earnings per share. Equities research analysts anticipate that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a yield of 1.87%. L3Harris Technologies’s payout ratio is currently 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.