L3Harris Technologies, Inc. (NYSE:LHX) Shares Purchased by Blue Trust Inc.

Blue Trust Inc. grew its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 96.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 653 shares of the company’s stock after purchasing an additional 321 shares during the quarter. Blue Trust Inc.’s holdings in L3Harris Technologies were worth $147,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in LHX. Meeder Asset Management Inc. lifted its stake in shares of L3Harris Technologies by 260.6% during the 2nd quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock worth $27,000 after purchasing an additional 86 shares during the period. EntryPoint Capital LLC lifted 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 purchasing an additional 69 shares during the period. Versant Capital Management Inc raised its position in shares of L3Harris Technologies by 77.7% in the 2nd quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock worth $41,000 after buying an additional 80 shares during the period. Family Firm Inc. purchased a new position in shares of L3Harris Technologies in the 2nd quarter worth $45,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of L3Harris Technologies in the 2nd quarter worth $57,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Activity at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of the business’s stock in a transaction on 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 directly owns 13,328 shares of the company’s stock, valued at approximately $3,261,095.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.82% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on LHX. Wolfe Research raised L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price on the stock in a research report on Thursday, October 10th. Royal Bank of Canada lowered L3Harris Technologies from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $250.00 to $240.00 in a research report on Wednesday, August 14th. Citigroup raised their price objective on L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Wells Fargo & Company cut their price objective on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Finally, Morgan Stanley lowered L3Harris Technologies from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $275.00 to $257.00 in a research report on Friday, August 9th. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, L3Harris Technologies has an average rating of “Moderate Buy” and an average target price of $256.71.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock opened at $252.81 on Monday. 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 $47.96 billion, a P/E ratio of 40.45, a P/E/G ratio of 2.10 and a beta of 0.73. The firm has a 50 day simple moving average of $237.08 and a 200 day simple moving average of $227.50. L3Harris Technologies, Inc. has a fifty-two week low of $169.55 and a fifty-two week high of $258.89.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, October 24th. The company reported $3.34 EPS for the quarter, topping analysts’ consensus estimates of $3.27 by $0.07. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The firm had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.28 billion. During the same quarter in the previous year, the business earned $3.19 EPS. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. Sell-side analysts predict that L3Harris Technologies, Inc. will post 13.06 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The business 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 annualized dividend and a yield of 1.84%. L3Harris Technologies’s dividend payout ratio is currently 74.24%.

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.