L3Harris Technologies, Inc. (NYSE:LHX) Shares Purchased by Creative Planning

Creative Planning boosted its position in L3Harris Technologies, Inc. (NYSE:LHX) by 1.2% during the 3rd quarter, Holdings Channel reports. The fund owned 41,588 shares of the company’s stock after acquiring an additional 512 shares during the quarter. Creative Planning’s holdings in L3Harris Technologies were worth $9,893,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. raised 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 valued at $27,000 after acquiring an additional 86 shares in the last quarter. EntryPoint Capital LLC raised its holdings in L3Harris Technologies by 70.4% during the first quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock worth $36,000 after purchasing an additional 69 shares in the last quarter. Versant Capital Management Inc raised its holdings in L3Harris Technologies by 77.7% during the second quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock worth $41,000 after purchasing an additional 80 shares in the last quarter. Family Firm Inc. acquired a new stake in L3Harris Technologies during the second quarter worth approximately $45,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in L3Harris Technologies during the second quarter worth approximately $57,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now owns 13,328 shares of the company’s stock, valued at approximately $3,261,095.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.82% of the stock is currently owned by insiders.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $244.93 on Wednesday. The firm’s fifty day moving average price is $235.84 and its 200 day moving average price is $226.63. L3Harris Technologies, Inc. has a 1-year low of $169.55 and a 1-year high of $250.88. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.90 and a quick ratio of 0.74. The firm has a market cap of $46.46 billion, a price-to-earnings ratio of 39.76, a price-to-earnings-growth ratio of 2.08 and a beta of 0.73.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, July 25th. The company reported $3.24 earnings per share for the quarter, beating 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 analyst estimates of $5.30 billion. During the same period last year, the firm posted $2.97 EPS. L3Harris Technologies’s quarterly revenue was up 12.9% on a year-over-year basis. On average, sell-side analysts expect that L3Harris Technologies, Inc. will post 13.06 EPS for the current year.

L3Harris Technologies Announces Dividend

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. 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 1.89%. L3Harris Technologies’s dividend payout ratio (DPR) is 75.32%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Wolfe Research raised shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective on the stock in a report on Thursday, October 10th. 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. Wells Fargo & Company cut their price objective on shares of L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Royal Bank of Canada cut shares of L3Harris Technologies from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from $250.00 to $240.00 in a report on Wednesday, August 14th. Finally, Truist Financial raised their target price on shares of L3Harris Technologies from $250.00 to $293.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus 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.