Bleakley Financial Group LLC Has $682,000 Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Bleakley Financial Group LLC grew its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 2.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,869 shares of the company’s stock after acquiring an additional 73 shares during the period. Bleakley Financial Group LLC’s holdings in L3Harris Technologies were worth $682,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Meeder Asset Management Inc. lifted its holdings in L3Harris Technologies by 260.6% during 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 period. EntryPoint Capital LLC lifted its stake in shares of L3Harris Technologies by 70.4% in the first quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock worth $36,000 after acquiring an additional 69 shares during the period. Versant Capital Management Inc boosted its holdings in L3Harris Technologies by 77.7% in the second quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock valued at $41,000 after acquiring an additional 80 shares during the last quarter. Family Firm Inc. acquired a new stake in L3Harris Technologies during the 2nd quarter valued at approximately $45,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in L3Harris Technologies during the 2nd quarter worth approximately $57,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Stock Down 0.3 %

L3Harris Technologies stock opened at $248.15 on Tuesday. The company has a current ratio of 0.90, a quick ratio of 0.74 and a debt-to-equity ratio of 0.56. The firm’s fifty day moving average price is $235.50 and its two-hundred day moving average price is $226.38. The firm has a market capitalization of $47.07 billion, a price-to-earnings ratio of 40.28, a price-to-earnings-growth ratio of 2.08 and a beta of 0.73. L3Harris Technologies, Inc. has a 1-year low of $169.55 and a 1-year high of $250.88.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, July 25th. The company reported $3.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.18 by $0.06. The business had revenue of $5.30 billion during the quarter, compared to the consensus estimate of $5.30 billion. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The company’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.97 EPS. On average, equities research analysts predict that L3Harris Technologies, Inc. will post 13.06 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders 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 yield of 1.87%. The ex-dividend date is Monday, November 18th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on LHX shares. Truist Financial increased their price objective on shares of L3Harris Technologies from $250.00 to $293.00 and gave the stock a “buy” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft decreased their price target on L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. Wells Fargo & Company dropped their price objective on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Morgan Stanley cut L3Harris Technologies from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $275.00 to $257.00 in a research note on Friday, August 9th. Finally, Susquehanna boosted their price target on L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research note on Monday, July 29th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $256.71.

Insiders Place Their Bets

In other news, insider Ross Niebergall sold 2,988 shares of the 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 completion of the sale, the insider now owns 13,328 shares in the company, valued at $3,261,095.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.82% of the company’s stock.

About L3Harris Technologies

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.