Ballentine Partners LLC Acquires 111 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Ballentine Partners LLC grew its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 3.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,341 shares of the company’s stock after acquiring an additional 111 shares during the period. Ballentine Partners LLC’s holdings in L3Harris Technologies were worth $795,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Meeder Asset Management Inc. boosted its holdings in L3Harris Technologies by 260.6% in the second quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock worth $27,000 after purchasing an additional 86 shares in the last quarter. EntryPoint Capital LLC boosted its stake in shares of 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 in the last quarter. Versant Capital Management Inc increased its holdings in shares of L3Harris Technologies by 77.7% during the 2nd quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock valued at $41,000 after acquiring an additional 80 shares during the last quarter. Family Firm Inc. bought a new position in shares of L3Harris Technologies in the 2nd quarter valued at approximately $45,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in L3Harris Technologies in the 2nd quarter worth approximately $57,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on LHX. Deutsche Bank Aktiengesellschaft lowered their price target on L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Citigroup boosted their target price on shares of L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Morgan Stanley lowered L3Harris Technologies from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $275.00 to $257.00 in a research note on Friday, August 9th. Wells Fargo & Company decreased their target price on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Finally, Barclays raised their target price on L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $256.71.

L3Harris Technologies Price Performance

Shares of L3Harris Technologies stock opened at $252.81 on Friday. The firm has a market cap of $47.96 billion, a P/E ratio of 40.45, a price-to-earnings-growth ratio of 2.10 and a beta of 0.73. The firm’s 50-day simple moving average is $237.08 and its 200-day simple moving average is $227.19. L3Harris Technologies, Inc. has a twelve month low of $169.55 and a twelve month high of $258.89. 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 released its quarterly earnings data on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, beating analysts’ consensus estimates of $3.27 by $0.07. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The company had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.28 billion. During the same period in the previous year, the business earned $3.19 earnings per share. The company’s quarterly revenue was up 7.7% on a year-over-year basis. As a group, research analysts expect 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. Shareholders of record on Monday, November 18th will be paid a dividend of $1.16 per share. The ex-dividend date is Monday, November 18th. This represents a $4.64 annualized dividend and a yield of 1.84%. L3Harris Technologies’s dividend payout ratio is currently 74.24%.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were 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 of the company’s stock, valued at approximately $3,261,095.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.82% of the company’s stock.

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.