M&R Capital Management Inc. Buys 433 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

M&R Capital Management Inc. grew its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 19.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,633 shares of the company’s stock after acquiring an additional 433 shares during the quarter. M&R Capital Management Inc.’s holdings in L3Harris Technologies were worth $626,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Meeder Asset Management Inc. boosted its holdings in shares of L3Harris Technologies by 260.6% in the second quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock valued at $27,000 after buying an additional 86 shares during the period. Transcendent Capital Group LLC acquired a new stake in L3Harris Technologies in the 4th quarter valued at approximately $28,000. EntryPoint Capital LLC boosted its position in L3Harris Technologies by 70.4% during the 1st quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock worth $36,000 after acquiring an additional 69 shares during the last quarter. Versant Capital Management Inc lifted its position in shares of L3Harris Technologies by 77.7% in the second quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock worth $41,000 after purchasing an additional 80 shares in the last quarter. Finally, Family Firm Inc. acquired a new position in L3Harris Technologies during the second quarter worth $45,000. Institutional investors own 84.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports 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 note on Monday, July 29th. Royal Bank of Canada cut L3Harris Technologies from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $250.00 to $240.00 in a research report on Wednesday, August 14th. 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 downgraded 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, Barclays boosted their price objective on shares of L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $247.08.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $244.66 on Thursday. L3Harris Technologies, Inc. has a 1-year low of $160.25 and a 1-year high of $247.33. 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 stock has a market cap of $46.41 billion, a P/E ratio of 39.72, a PEG ratio of 2.04 and a beta of 0.73. The stock has a 50 day simple moving average of $231.34 and a 200 day simple moving average of $223.13.

L3Harris Technologies (NYSE:LHX) last issued its quarterly 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. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The business had revenue of $5.30 billion for the quarter, compared to the consensus estimate of $5.30 billion. During the same quarter in the prior year, the business posted $2.97 earnings per share. The firm’s quarterly revenue was up 12.9% compared to the same quarter last year. Research analysts anticipate 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 was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were issued a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date was Friday, September 6th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

Insider Buying and Selling

In other L3Harris Technologies news, SVP Scott T. Mikuen sold 10,527 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $230.00, for a total transaction of $2,421,210.00. Following the completion of the transaction, the senior vice president now directly owns 47,616 shares in the company, valued at $10,951,680. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $236.68, for a total value of $707,199.84. Following the completion of the transaction, the insider now directly owns 16,316 shares in the company, valued at approximately $3,861,670.88. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Scott T. Mikuen sold 10,527 shares of L3Harris Technologies stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $230.00, for a total value of $2,421,210.00. Following the transaction, the senior vice president now directly owns 47,616 shares in the company, valued at $10,951,680. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,402 shares of company stock worth $6,861,855. Corporate insiders own 0.82% 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.