Catalytic Wealth RIA LLC Purchases New Shares in L3Harris Technologies, Inc. (NYSE:LHX)

Catalytic Wealth RIA LLC acquired a new position in shares of L3Harris Technologies, Inc. (NYSE:LHX) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 1,141 shares of the company’s stock, valued at approximately $271,000.

Several other large investors have also recently added to or reduced their stakes in LHX. Empowered Funds LLC boosted its holdings in L3Harris Technologies by 201.4% in the 1st quarter. Empowered Funds LLC now owns 10,404 shares of the company’s stock valued at $2,217,000 after purchasing an additional 6,952 shares during the period. Sei Investments Co. grew its position in L3Harris Technologies by 1.8% during the first quarter. Sei Investments Co. now owns 171,514 shares of the company’s stock worth $36,550,000 after buying an additional 3,099 shares in the last quarter. QRG Capital Management Inc. raised its holdings in L3Harris Technologies by 6.3% in the 1st quarter. QRG Capital Management Inc. now owns 2,431 shares of the company’s stock valued at $518,000 after acquiring an additional 145 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of L3Harris Technologies during the 1st quarter worth $228,000. Finally, State Board of Administration of Florida Retirement System raised its stake in L3Harris Technologies by 9.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 215,262 shares of the company’s stock valued at $42,243,000 after purchasing an additional 18,631 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

LHX has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft dropped 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 report on Thursday, October 3rd. Barclays upped their target price on L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Wells Fargo & Company lifted their price target on L3Harris Technologies from $260.00 to $295.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. Truist Financial boosted their price target on L3Harris Technologies from $293.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Finally, Susquehanna lifted their target price on L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research report on Monday, July 29th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, L3Harris Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $267.50.

L3Harris Technologies Stock Up 1.4 %

Shares of NYSE LHX opened at $264.25 on Tuesday. L3Harris Technologies, Inc. has a 1 year low of $182.01 and a 1 year high of $265.74. 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 firm has a market cap of $50.12 billion, a PE ratio of 41.75, a price-to-earnings-growth ratio of 2.17 and a beta of 0.72. The company has a 50 day simple moving average of $240.87 and a 200 day simple moving average of $230.75.

L3Harris Technologies (NYSE:LHX) last issued its quarterly 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. The company had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.28 billion. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. L3Harris Technologies’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.19 earnings per share. On average, research analysts forecast that L3Harris Technologies, Inc. will post 13.09 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be given a dividend of $1.16 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.76%. L3Harris Technologies’s dividend payout ratio (DPR) is 73.30%.

Insider Buying and Selling

In other news, insider Ross Niebergall sold 2,988 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 13,328 shares in the company, valued at approximately $3,261,095.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 8,964 shares of company stock valued at $2,179,119 over the last ninety days. 0.82% of the stock is owned by company 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.