L3Harris Technologies, Inc. (NYSE:LHX) Stake Raised by M&R Capital Management Inc.

M&R Capital Management Inc. grew its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 19.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,633 shares of the company’s stock after purchasing an additional 433 shares during the period. M&R Capital Management Inc.’s holdings in L3Harris Technologies were worth $626,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in LHX. Vanguard Group Inc. boosted its position in shares of L3Harris Technologies by 12.9% in the 1st quarter. Vanguard Group Inc. now owns 22,792,779 shares of the company’s stock valued at $4,857,141,000 after purchasing an additional 2,606,267 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of L3Harris Technologies by 0.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,631,207 shares of the company’s stock worth $2,052,411,000 after buying an additional 45,845 shares during the period. Wellington Management Group LLP increased its position in shares of L3Harris Technologies by 34.7% in the fourth quarter. Wellington Management Group LLP now owns 4,416,904 shares of the company’s stock worth $930,288,000 after acquiring an additional 1,138,549 shares in the last quarter. Bank of New York Mellon Corp raised its holdings 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 period. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of L3Harris Technologies by 3.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,108,596 shares of the company’s stock valued at $449,342,000 after acquiring an additional 66,770 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Trading Down 0.3 %

Shares of LHX stock opened at $244.66 on Thursday. The stock has a market cap of $46.41 billion, a price-to-earnings ratio of 39.72, a P/E/G ratio of 2.04 and a beta of 0.73. The firm has a fifty day moving average of $231.34 and a 200-day moving average of $223.13. L3Harris Technologies, Inc. has a 52-week low of $160.25 and a 52-week high of $247.33. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.74 and a current ratio of 0.90.

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

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were issued a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 1.90%. The ex-dividend date was Friday, September 6th. L3Harris Technologies’s payout ratio is 75.32%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Barclays lifted their price objective on shares of L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Susquehanna lifted their price target on L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a report on Monday, July 29th. Royal Bank of Canada downgraded L3Harris Technologies from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $250.00 to $240.00 in a research note on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft lowered L3Harris Technologies from a “buy” rating to a “hold” rating and raised their price objective for the stock from $245.00 to $257.00 in a research report on Friday, July 26th. Finally, Wells Fargo & Company dropped their target price on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $247.08.

Insider Buying and Selling

In other news, SVP Scott T. Mikuen sold 15,887 shares of L3Harris Technologies stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $235.00, for a total value of $3,733,445.00. Following the completion of the transaction, the senior vice president now owns 47,616 shares in the company, valued at $11,189,760. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Scott T. Mikuen sold 10,527 shares of the business’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $230.00, for a total transaction of $2,421,210.00. Following the completion of the sale, the senior vice president now owns 47,616 shares in the company, valued at $10,951,680. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Scott T. Mikuen sold 15,887 shares of L3Harris Technologies stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $235.00, for a total value of $3,733,445.00. Following the completion of the sale, the senior vice president now owns 47,616 shares of the company’s stock, valued at $11,189,760. The disclosure for this sale can be found here. Insiders sold 29,402 shares of company stock worth $6,861,855 in the last quarter. 0.82% of the stock is owned by corporate 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.