Traynor Capital Management Inc. Buys 6,548 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Traynor Capital Management Inc. grew its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 23.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 34,049 shares of the company’s stock after purchasing an additional 6,548 shares during the quarter. Traynor Capital Management Inc.’s holdings in L3Harris Technologies were worth $8,099,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Wealthcare Advisory Partners LLC acquired a new stake in L3Harris Technologies during the 1st quarter worth approximately $216,000. Wealth Enhancement Advisory Services LLC raised its holdings in L3Harris Technologies by 18.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 37,204 shares of the company’s stock worth $7,928,000 after buying an additional 5,877 shares during the period. Founders Financial Securities LLC grew its stake in shares of L3Harris Technologies by 8.3% during the 1st quarter. Founders Financial Securities LLC now owns 1,726 shares of the company’s stock worth $368,000 after acquiring an additional 132 shares in the last quarter. Carret Asset Management LLC grew its stake in shares of L3Harris Technologies by 1.7% during the 1st quarter. Carret Asset Management LLC now owns 16,758 shares of the company’s stock worth $3,571,000 after acquiring an additional 278 shares in the last quarter. Finally, Trust Co. of Oklahoma grew its stake in shares of L3Harris Technologies by 30.3% during the 1st quarter. Trust Co. of Oklahoma now owns 2,500 shares of the company’s stock worth $533,000 after acquiring an additional 581 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

LHX has been the subject of several research reports. Royal Bank of Canada raised their price target on shares of L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a research note on Monday. Truist Financial boosted their target price on shares of L3Harris Technologies from $293.00 to $300.00 and gave the stock a “buy” rating in a report on Monday. Wells Fargo & Company boosted their target price on shares of L3Harris Technologies from $260.00 to $295.00 and gave the stock an “overweight” rating in a report on Monday. Barclays boosted their target price 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. Finally, Wolfe Research upgraded shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price on the stock in a report on Thursday, October 10th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $261.50.

L3Harris Technologies Trading Down 1.9 %

LHX opened at $248.04 on Tuesday. L3Harris Technologies, Inc. has a twelve month low of $172.30 and a twelve month high of $258.89. The company has a 50-day simple moving average of $237.43 and a 200 day simple moving average of $227.82. The company has a quick ratio of 0.74, a current ratio of 0.90 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $47.06 billion, a price-to-earnings ratio of 39.69, a P/E/G ratio of 2.10 and a beta of 0.73.

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

L3Harris Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be issued a $1.16 dividend. The ex-dividend date is Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.87%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 74.24%.

Insider Transactions at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of the 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 completion of the transaction, 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 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. Company insiders own 0.82% of the company’s stock.

L3Harris Technologies Company 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.