Empower Advisory Group LLC Grows Position in L3Harris Technologies, Inc. (NYSE:LHX)

Empower Advisory Group LLC grew its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 2.2% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 361,475 shares of the company’s stock after purchasing an additional 7,848 shares during the period. Empower Advisory Group LLC owned approximately 0.19% of L3Harris Technologies worth $85,984,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of LHX. QRG Capital Management Inc. increased its stake in L3Harris Technologies by 6.3% during the 1st quarter. QRG Capital Management Inc. now owns 2,431 shares of the company’s stock worth $518,000 after buying an additional 145 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in L3Harris Technologies in the first quarter valued at $228,000. State Board of Administration of Florida Retirement System grew its position in shares of L3Harris Technologies by 9.5% during the first quarter. State Board of Administration of Florida Retirement System now owns 215,262 shares of the company’s stock worth $42,243,000 after buying an additional 18,631 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of L3Harris Technologies by 18.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 240,182 shares of the company’s stock valued at $51,183,000 after purchasing an additional 36,981 shares during the last quarter. Finally, Condor Capital Management lifted its position in shares of L3Harris Technologies by 56.3% during the 1st quarter. Condor Capital Management now owns 12,079 shares of the company’s stock worth $2,574,000 after purchasing an additional 4,353 shares during the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Wolfe Research upgraded L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target on the stock in a research note on Thursday, October 10th. Wells Fargo & Company upped their price target on L3Harris Technologies from $260.00 to $295.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Morgan Stanley cut shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $275.00 to $257.00 in a report on Friday, August 9th. Truist Financial boosted their price objective 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. Finally, Barclays increased their target price on shares of L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $267.50.

L3Harris Technologies Stock Performance

Shares of LHX opened at $261.62 on Wednesday. L3Harris Technologies, Inc. has a 1 year low of $182.01 and a 1 year high of $265.74. The stock has a market capitalization of $49.62 billion, a P/E ratio of 41.33, a P/E/G ratio of 2.20 and a beta of 0.72. 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’s fifty day moving average is $241.43 and its two-hundred day moving average is $231.15.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, October 24th. The company reported $3.34 EPS for the quarter, beating analysts’ consensus estimates of $3.27 by $0.07. The firm had revenue of $5.29 billion during the quarter, compared to the consensus estimate 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 was up 7.7% compared to the same quarter last year. During the same quarter last year, the firm earned $3.19 earnings per share. On average, sell-side analysts predict that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be paid a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 1.77%. The ex-dividend date of this dividend is Monday, November 18th. L3Harris Technologies’s dividend payout ratio (DPR) is 73.30%.

Insider Buying and Selling

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction dated 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 owns 13,328 shares in the company, valued at approximately $3,261,095.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 8,964 shares of company stock worth $2,179,119 in the last quarter. Company insiders own 0.87% 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.