Exchange Traded Concepts LLC Acquires 3,801 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Exchange Traded Concepts LLC grew its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 6,787.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,857 shares of the company’s stock after purchasing an additional 3,801 shares during the period. Exchange Traded Concepts LLC’s holdings in L3Harris Technologies were worth $917,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Meeder Asset Management Inc. increased its stake in L3Harris Technologies by 260.6% in 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 grew its stake in L3Harris Technologies by 70.4% in the 1st quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock worth $36,000 after acquiring an additional 69 shares in the last quarter. Versant Capital Management Inc increased its position in shares of L3Harris Technologies by 77.7% during the second 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. bought a new stake in shares of L3Harris Technologies during the second quarter valued at approximately $45,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of L3Harris Technologies in the second quarter valued at approximately $57,000. 84.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

LHX has been the topic of several research reports. 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 report on Wednesday, August 14th. Wolfe Research upgraded L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective for the company in a report on Thursday, October 10th. Citigroup increased their target price on shares of L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Susquehanna boosted their price target on shares of L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a report on Monday, July 29th. Finally, Morgan Stanley cut shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $275.00 to $257.00 in a research report on Friday, August 9th. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $253.64.

L3Harris Technologies Stock Up 0.1 %

Shares of LHX stock opened at $248.28 on Friday. The stock’s fifty day moving average price is $234.71 and its 200 day moving average price is $225.53. L3Harris Technologies, Inc. has a 1-year low of $169.55 and a 1-year high of $249.00. The company has a market cap of $47.09 billion, a price-to-earnings ratio of 40.31, a price-to-earnings-growth ratio of 2.08 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 posted its quarterly earnings data on Thursday, July 25th. The company reported $3.24 EPS for the quarter, topping the consensus estimate of $3.18 by $0.06. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The business had revenue of $5.30 billion during the quarter, compared to the consensus estimate of $5.30 billion. During the same period in the previous year, the firm posted $2.97 earnings per share. The business’s revenue for the quarter was up 12.9% compared to the same quarter last year. On average, research analysts expect that L3Harris Technologies, Inc. will post 13.06 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date is Monday, November 18th. L3Harris Technologies’s dividend payout ratio is presently 75.32%.

Insider Transactions at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total value of $731,103.84. Following 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Company 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.