Signaturefd LLC Purchases 140 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Signaturefd LLC boosted its position in L3Harris Technologies, Inc. (NYSE:LHX) by 1.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,628 shares of the company’s stock after acquiring an additional 140 shares during the quarter. Signaturefd LLC’s holdings in L3Harris Technologies were worth $2,052,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of L3Harris Technologies by 12.9% during the first quarter. Vanguard Group Inc. now owns 22,792,779 shares of the company’s stock worth $4,857,141,000 after purchasing an additional 2,606,267 shares during the period. Manning & Napier Advisors LLC purchased a new stake in shares of L3Harris Technologies during the second quarter worth about $210,886,000. Envestnet Asset Management Inc. lifted its holdings in L3Harris Technologies by 236.8% in the second quarter. Envestnet Asset Management Inc. now owns 989,340 shares of the company’s stock worth $222,186,000 after buying an additional 695,582 shares during the period. Bank of New York Mellon Corp lifted its holdings in L3Harris Technologies by 19.7% in the second quarter. Bank of New York Mellon Corp now owns 3,174,181 shares of the company’s stock worth $712,858,000 after buying an additional 523,315 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in L3Harris Technologies by 65.2% in the second quarter. The Manufacturers Life Insurance Company now owns 434,287 shares of the company’s stock worth $97,532,000 after buying an additional 171,420 shares during the period. Institutional investors own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

LHX has been the subject of several research analyst reports. Barclays raised their price objective on shares of L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Truist Financial raised their target price on shares of L3Harris Technologies from $250.00 to $293.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Wolfe Research raised shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target for the company in a research report on Thursday, October 10th. Citigroup raised their price target on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, Royal Bank of Canada downgraded shares of 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. Five equities research analysts have rated the stock with a hold rating and ten 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 a consensus target price of $256.71.

L3Harris Technologies Stock Performance

Shares of NYSE LHX 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 company has a market cap of $46.46 billion, a P/E ratio of 39.76, a P/E/G ratio of 2.08 and a beta of 0.73. The firm’s fifty day moving average is $235.84 and its two-hundred day moving average is $226.63. L3Harris Technologies, Inc. has a 52-week low of $169.55 and a 52-week high of $250.88.

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

L3Harris Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be issued a dividend of $1.16 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.64 annualized dividend and a yield of 1.89%. L3Harris Technologies’s payout ratio is 75.32%.

Insider Activity at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $236.68, for a total transaction of $707,199.84. Following the transaction, the insider now directly owns 16,316 shares in the company, valued at approximately $3,861,670.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.82% of the stock is currently owned by 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.