Cyndeo Wealth Partners LLC Purchases New Position in L3Harris Technologies, Inc. (NYSE:LHX)

Cyndeo Wealth Partners LLC purchased a new stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 853 shares of the company’s stock, valued at approximately $203,000.

A number of other hedge funds also recently bought and sold shares of LHX. Vanguard Group Inc. boosted its position in L3Harris Technologies by 12.9% during the 1st quarter. Vanguard Group Inc. now owns 22,792,779 shares of the company’s stock valued at $4,857,141,000 after acquiring an additional 2,606,267 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in L3Harris Technologies by 0.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,631,207 shares of the company’s stock valued at $2,052,411,000 after acquiring an additional 45,845 shares in the last quarter. Bank of New York Mellon Corp boosted its position in L3Harris Technologies by 19.7% during the 2nd 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 in the last quarter. Diamond Hill Capital Management Inc. boosted its position in L3Harris Technologies by 2.2% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 1,489,129 shares of the company’s stock valued at $334,429,000 after acquiring an additional 31,686 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in L3Harris Technologies by 0.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,456,451 shares of the company’s stock valued at $327,090,000 after acquiring an additional 9,036 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Down 1.3 %

Shares of L3Harris Technologies stock opened at $244.93 on Wednesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.74 and a current ratio of 0.90. The stock has a market capitalization of $46.46 billion, a PE ratio of 39.76, a price-to-earnings-growth ratio of 2.08 and a beta of 0.73. L3Harris Technologies, Inc. has a 52-week low of $169.55 and a 52-week high of $250.88. The company has a 50-day simple moving average of $235.84 and a two-hundred day simple moving average of $226.63.

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 the consensus estimate 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 net margin of 5.73% and a return on equity of 13.02%. The business’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period in the previous year, the company earned $2.97 earnings per share. On average, analysts anticipate that L3Harris Technologies, Inc. will post 13.06 EPS 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. Stockholders of record on Monday, November 18th will be issued a dividend of $1.16 per share. The ex-dividend date is Monday, November 18th. This represents a $4.64 annualized dividend and a dividend yield of 1.89%. L3Harris Technologies’s payout ratio is 75.32%.

Insider Activity

In other news, insider Ross Niebergall sold 2,988 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 13,328 shares of the company’s stock, valued at $3,261,095.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.82% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

LHX has been the topic of several research reports. Wells Fargo & Company cut their price objective on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft cut their price objective on L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a research report on Thursday, October 3rd. Barclays lifted their price objective on L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Wolfe Research raised L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective on the stock in a research report on Thursday, October 10th. Finally, Morgan Stanley cut L3Harris Technologies from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $275.00 to $257.00 in a research report on Friday, August 9th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $256.71.

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.