Confluence Wealth Services Inc. Has $1.34 Million Position in L3Harris Technologies, Inc. (NYSE:LHX)

Confluence Wealth Services Inc. grew its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 1.1% during the third quarter, HoldingsChannel.com reports. The firm owned 5,611 shares of the company’s stock after purchasing an additional 59 shares during the period. Confluence Wealth Services Inc.’s holdings in L3Harris Technologies were worth $1,335,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Koshinski Asset Management Inc. grew its holdings in L3Harris Technologies by 2.7% during the 3rd quarter. Koshinski Asset Management Inc. now owns 1,620 shares of the company’s stock worth $385,000 after acquiring an additional 42 shares during the last quarter. RFG Advisory LLC raised its stake in shares of L3Harris Technologies by 3.1% during the second quarter. RFG Advisory LLC now owns 1,416 shares of the company’s stock valued at $318,000 after acquiring an additional 43 shares during the last quarter. Blossom Wealth Management lifted its holdings in shares of L3Harris Technologies by 1.7% during the third quarter. Blossom Wealth Management now owns 2,538 shares of the company’s stock worth $604,000 after purchasing an additional 43 shares during the period. Nicholas Hoffman & Company LLC. grew its stake in shares of L3Harris Technologies by 3.3% in the third quarter. Nicholas Hoffman & Company LLC. now owns 1,353 shares of the company’s stock worth $322,000 after purchasing an additional 43 shares during the last quarter. Finally, Optas LLC increased its holdings in L3Harris Technologies by 3.3% in the second quarter. Optas LLC now owns 1,381 shares of the company’s stock valued at $310,000 after purchasing an additional 44 shares during the period. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Stock Up 0.0 %

LHX opened at $247.48 on Friday. L3Harris Technologies, Inc. has a fifty-two week low of $179.00 and a fifty-two week high of $258.89. 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 company’s 50-day moving average is $238.70 and its 200 day moving average is $228.88. The firm has a market capitalization of $46.94 billion, a P/E ratio of 39.10, a PEG ratio of 2.12 and a beta of 0.72.

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 return on equity of 13.11% and a net margin of 5.71%. The business had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.28 billion. During the same quarter in the previous year, the firm earned $3.19 earnings per share. The business’s revenue was up 7.7% on a year-over-year basis. Research analysts expect that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be paid a dividend of $1.16 per share. The ex-dividend date is Monday, November 18th. This represents a $4.64 annualized dividend and a dividend yield of 1.87%. L3Harris Technologies’s payout ratio is currently 73.30%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on LHX. StockNews.com raised L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Truist Financial upped their target price on L3Harris Technologies from $293.00 to $300.00 and gave the company a “buy” rating in a report on Monday, October 28th. Barclays raised their price target 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. Royal Bank of Canada upped their price objective on shares of L3Harris Technologies from $240.00 to $265.00 and gave the company a “sector perform” rating in a research note on Monday, October 28th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a research note on Thursday, October 3rd. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $267.50.

Insider Buying and Selling

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total transaction of $731,103.84. Following the completion of the transaction, the insider now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.82% of the stock is currently owned by insiders.

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.