Private Advisor Group LLC Has $2.91 Million Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Private Advisor Group LLC decreased its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 5.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,248 shares of the company’s stock after selling 699 shares during the period. Private Advisor Group LLC’s holdings in L3Harris Technologies were worth $2,914,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Meeder Asset Management Inc. raised its holdings in L3Harris Technologies by 260.6% in the 2nd quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock valued at $27,000 after acquiring an additional 86 shares in the last quarter. EntryPoint Capital LLC raised its stake in shares of L3Harris Technologies by 70.4% in the 1st quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock valued at $36,000 after buying an additional 69 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of L3Harris Technologies by 77.7% during the 2nd quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock worth $41,000 after acquiring an additional 80 shares during the period. Family Firm Inc. acquired a new stake in shares of L3Harris Technologies during the 2nd quarter valued at about $45,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in L3Harris Technologies in the second quarter valued at about $57,000. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Down 1.9 %

Shares of NYSE:LHX opened at $248.04 on Tuesday. The company has a 50 day moving average of $237.43 and a 200-day moving average of $227.82. L3Harris Technologies, Inc. has a one year low of $172.30 and a one year high of $258.89. The stock has a market cap of $47.06 billion, a price-to-earnings ratio of 39.69, a P/E/G ratio of 2.10 and a beta of 0.73. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.90 and a quick ratio of 0.74.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, October 24th. The company reported $3.34 EPS for the quarter, topping analysts’ consensus estimates of $3.27 by $0.07. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The business had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.28 billion. During the same period in the previous year, the firm earned $3.19 earnings per share. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, sell-side analysts forecast that L3Harris Technologies, Inc. will post 13.06 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 issued a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Monday, November 18th. L3Harris Technologies’s dividend payout ratio (DPR) is 74.24%.

Analysts Set New Price Targets

A number of research analysts have commented on LHX shares. Royal Bank of Canada raised their price target on shares of L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a research note on Monday. 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 research report on Monday. Barclays lifted their price objective on L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Morgan Stanley lowered shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $275.00 to $257.00 in a report on Friday, August 9th. Finally, StockNews.com raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $261.50.

Insider Buying and Selling at L3Harris Technologies

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