Penserra Capital Management LLC Purchases 63 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Penserra Capital Management LLC increased its position in L3Harris Technologies, Inc. (NYSE:LHX) by 1.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,445 shares of the company’s stock after acquiring an additional 63 shares during the period. Penserra Capital Management LLC’s holdings in L3Harris Technologies were worth $818,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of LHX. Bank of New York Mellon Corp boosted its holdings in shares of 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 last quarter. Allspring Global Investments Holdings LLC grew its holdings in L3Harris Technologies by 1.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,039,832 shares of the company’s stock valued at $485,215,000 after purchasing an additional 27,763 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in L3Harris Technologies by 5.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,542,333 shares of the company’s stock worth $366,875,000 after acquiring an additional 85,882 shares in the last quarter. Diamond Hill Capital Management Inc. raised its stake 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 worth $334,429,000 after acquiring an additional 31,686 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of L3Harris Technologies by 12.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,405,337 shares of the company’s stock worth $315,611,000 after purchasing an additional 156,453 shares during the period. Institutional investors own 84.76% of the company’s stock.

Insiders Place Their Bets

In other news, insider Ross Niebergall sold 2,988 shares of the 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 directly owns 13,328 shares in the company, valued at approximately $3,261,095.04. This represents a 18.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 8,964 shares of company stock valued at $2,179,119 over the last 90 days. Insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Truist Financial increased their price target on L3Harris Technologies from $293.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Wells Fargo & Company lifted their price objective on shares of L3Harris Technologies from $260.00 to $295.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. 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 report on Thursday, October 10th. Wolfe Research raised shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price for the company in a research note on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $269.67.

L3Harris Technologies Trading Down 0.1 %

Shares of LHX stock opened at $245.26 on Thursday. The company has a market cap of $46.52 billion, a PE ratio of 38.75, a price-to-earnings-growth ratio of 2.01 and a beta of 0.72. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87. The stock’s 50 day simple moving average is $245.66 and its two-hundred day simple moving average is $233.80. L3Harris Technologies, Inc. has a 1 year low of $187.68 and a 1 year high of $265.74.

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

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be given a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend is Monday, November 18th. L3Harris Technologies’s dividend payout ratio (DPR) is currently 73.30%.

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.