Howe & Rusling Inc. Has $5.63 Million Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Howe & Rusling Inc. grew its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 5.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,658 shares of the company’s stock after purchasing an additional 1,199 shares during the period. Howe & Rusling Inc.’s holdings in L3Harris Technologies were worth $5,628,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Strategy Asset Managers LLC lifted its stake in shares of L3Harris Technologies by 15.0% in the third quarter. Strategy Asset Managers LLC now owns 1,586 shares of the company’s stock valued at $377,000 after buying an additional 207 shares during the period. Avior Wealth Management LLC grew its holdings in shares of L3Harris Technologies by 616.6% during the 3rd quarter. Avior Wealth Management LLC now owns 2,637 shares of the company’s stock worth $627,000 after purchasing an additional 2,269 shares in the last quarter. Second Half Financial Partners LLC bought a new stake in shares of L3Harris Technologies during the third quarter valued at approximately $3,076,000. SouthState Corp raised its stake in shares of L3Harris Technologies by 2.5% in the third quarter. SouthState Corp now owns 57,370 shares of the company’s stock valued at $13,647,000 after purchasing an additional 1,401 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC lifted its position in L3Harris Technologies by 30.7% in the third quarter. Fifth Third Wealth Advisors LLC now owns 2,397 shares of the company’s stock worth $570,000 after purchasing an additional 563 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Bank of America raised L3Harris Technologies from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $240.00 to $300.00 in a report on Thursday, October 31st. Morgan Stanley downgraded shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $275.00 to $257.00 in a research note on Friday, August 9th. Royal Bank of Canada boosted their price objective on shares of L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a research report on Monday, October 28th. Wolfe Research upgraded L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective on the stock in a research report on Thursday, October 10th. Finally, StockNews.com upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $267.50.

L3Harris Technologies Price Performance

Shares of LHX opened at $243.55 on Wednesday. The stock has a 50 day simple moving average of $243.77 and a 200 day simple moving average of $232.74. L3Harris Technologies, Inc. has a 52-week low of $184.34 and a 52-week high of $265.74. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04. The firm has a market capitalization of $46.19 billion, a PE ratio of 38.48, a P/E/G ratio of 2.06 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, beating the consensus estimate of $3.27 by $0.07. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The company 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 company earned $3.19 earnings per share. 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 13.09 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently declared 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 of this dividend is Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.91%. L3Harris Technologies’s dividend payout ratio (DPR) is 73.30%.

Insider Transactions at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of the firm’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 completion of the transaction, the insider now owns 13,328 shares of the company’s stock, valued at approximately $3,261,095.04. This trade represents a 18.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 8,964 shares of company stock valued at $2,179,119 over the last three months. Company insiders own 0.87% 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.