1,224 Shares in L3Harris Technologies, Inc. (NYSE:LHX) Purchased by GM Advisory Group LLC

GM Advisory Group LLC acquired a new position in shares of L3Harris Technologies, Inc. (NYSE:LHX) in the 3rd quarter, HoldingsChannel reports. The firm acquired 1,224 shares of the company’s stock, valued at approximately $291,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Manning & Napier Advisors LLC acquired a new stake in shares of L3Harris Technologies during the second quarter valued at about $210,886,000. Envestnet Asset Management Inc. increased its position in shares of L3Harris Technologies by 236.8% during the second quarter. Envestnet Asset Management Inc. now owns 989,340 shares of the company’s stock valued at $222,186,000 after acquiring an additional 695,582 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of L3Harris Technologies by 19.7% during the second quarter. Bank of New York Mellon Corp now owns 3,174,181 shares of the company’s stock valued at $712,858,000 after acquiring an additional 523,315 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of L3Harris Technologies by 65.2% during the second quarter. The Manufacturers Life Insurance Company now owns 434,287 shares of the company’s stock valued at $97,532,000 after acquiring an additional 171,420 shares during the last quarter. Finally, International Assets Investment Management LLC increased its position in shares of L3Harris Technologies by 23,627.0% during the third quarter. International Assets Investment Management LLC now owns 170,597 shares of the company’s stock valued at $40,580,000 after acquiring an additional 169,878 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Susquehanna lifted their price target on shares of L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research report on Monday, July 29th. Morgan Stanley lowered shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $275.00 to $257.00 in a research note on Friday, August 9th. Wells Fargo & Company raised their price objective on shares of L3Harris Technologies from $260.00 to $295.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. StockNews.com raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. Finally, Citigroup raised their price objective on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $267.50.

L3Harris Technologies Stock Up 0.6 %

Shares of L3Harris Technologies stock opened at $248.16 on Friday. L3Harris Technologies, Inc. has a 52-week low of $187.37 and a 52-week high of $265.74. The company has a 50 day moving average of $244.86 and a 200 day moving average of $233.15. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $47.07 billion, a P/E ratio of 39.20, a P/E/G ratio of 2.06 and a beta of 0.72.

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

L3Harris Technologies Announces Dividend

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 given a dividend of $1.16 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.64 annualized dividend and a dividend yield of 1.87%. L3Harris Technologies’s dividend payout ratio is presently 73.30%.

Insider Transactions at L3Harris Technologies

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 sale, the insider now owns 13,328 shares in the company, valued at approximately $3,261,095.04. The trade was a 18.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders sold 8,964 shares of company stock worth $2,179,119. 0.82% of the stock is currently owned by insiders.

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.