L3Harris Technologies, Inc. (NYSE:LHX) Shares Acquired by Avior Wealth Management LLC

Avior Wealth Management LLC increased its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 616.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 2,637 shares of the company’s stock after acquiring an additional 2,269 shares during the quarter. Avior Wealth Management LLC’s holdings in L3Harris Technologies were worth $627,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. KCM Investment Advisors LLC increased its holdings in shares of L3Harris Technologies by 43.8% during the 3rd quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company’s stock valued at $4,584,000 after purchasing an additional 5,868 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in L3Harris Technologies by 17.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 43,838 shares of the company’s stock worth $9,845,000 after purchasing an additional 6,634 shares during the last quarter. Creative Planning grew its stake in L3Harris Technologies by 1.2% during the 3rd quarter. Creative Planning now owns 41,588 shares of the company’s stock valued at $9,893,000 after acquiring an additional 512 shares in the last quarter. Manning & Napier Advisors LLC purchased a new position in L3Harris Technologies during the second quarter worth approximately $210,886,000. Finally, Janney Montgomery Scott LLC purchased a new stake in shares of L3Harris Technologies in the third quarter valued at about $35,904,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Stock Up 0.9 %

LHX opened at $246.60 on Friday. The company has a market cap of $46.77 billion, a price-to-earnings ratio of 38.96, a PEG ratio of 2.03 and a beta of 0.72. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04. L3Harris Technologies, Inc. has a one year low of $185.98 and a one year high of $265.74. The business’s fifty day moving average is $244.49 and its two-hundred day moving average is $232.91.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.27 by $0.07. The firm had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.28 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. L3Harris Technologies’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.19 EPS. Analysts anticipate that L3Harris Technologies, Inc. will post 13.09 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be given a dividend of $1.16 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a yield of 1.88%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 73.30%.

Insiders Place Their Bets

In other news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $247.93, for a total transaction of $740,814.84. Following the sale, the insider now owns 10,340 shares in the company, valued at $2,563,596.20. This trade represents a 22.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders sold 8,964 shares of company stock valued at $2,179,119. Company insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

LHX has been the topic of several recent analyst reports. Barclays upped their price target on L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. StockNews.com upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. Citigroup boosted their target price on L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Wells Fargo & Company increased their price target on shares of L3Harris Technologies from $260.00 to $295.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $267.50.

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.