L3Harris Technologies, Inc. (NYSE:LHX) Shares Purchased by Harvest Investment Advisors LLC

Harvest Investment Advisors LLC lifted its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 0.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,563 shares of the company’s stock after acquiring an additional 70 shares during the period. L3Harris Technologies accounts for approximately 1.2% of Harvest Investment Advisors LLC’s holdings, making the stock its 26th biggest position. Harvest Investment Advisors LLC’s holdings in L3Harris Technologies were worth $1,799,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Public Employees Retirement System of Ohio boosted its stake in L3Harris Technologies by 14.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 82,800 shares of the company’s stock valued at $19,696,000 after purchasing an additional 10,579 shares in the last quarter. SGL Investment Advisors Inc. acquired a new stake in shares of L3Harris Technologies in the third quarter valued at $3,158,000. Nomura Asset Management Co. Ltd. boosted its stake in L3Harris Technologies by 4.1% during the third quarter. Nomura Asset Management Co. Ltd. now owns 55,901 shares of the company’s stock valued at $13,297,000 after buying an additional 2,216 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in L3Harris Technologies during the third quarter worth about $2,619,000. Finally, MML Investors Services LLC raised its position in L3Harris Technologies by 8.5% in the third quarter. MML Investors Services LLC now owns 41,163 shares of the company’s stock worth $9,791,000 after acquiring an additional 3,238 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

LHX has been the subject of several recent research reports. StockNews.com raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. Wells Fargo & Company upped 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. Wolfe Research raised 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 research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft cut their price target on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Finally, Bank of America upgraded shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $240.00 to $300.00 in a research report on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $269.67.

L3Harris Technologies Stock Down 1.5 %

L3Harris Technologies stock opened at $234.64 on Monday. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58. L3Harris Technologies, Inc. has a 1-year low of $193.34 and a 1-year high of $265.74. The firm’s fifty day simple moving average is $246.69 and its 200-day simple moving average is $234.77. The company has a market capitalization of $44.50 billion, a P/E ratio of 37.07, a P/E/G ratio of 1.96 and a beta of 0.72.

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 the consensus estimate of $3.27 by $0.07. The company had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.28 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The business’s revenue was up 7.7% compared to the same quarter last year. During the same period last year, the company earned $3.19 earnings per share. Sell-side analysts forecast that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Monday, November 18th were given a dividend of $1.16 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a yield of 1.98%. L3Harris Technologies’s payout ratio is currently 73.30%.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total value of $731,103.84. Following the transaction, the insider now directly owns 13,328 shares in the company, valued at approximately $3,261,095.04. The trade was a 18.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.87% of the company’s stock.

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.