Cerity Partners LLC Grows Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Cerity Partners LLC increased its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 11.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 57,691 shares of the company’s stock after purchasing an additional 6,100 shares during the quarter. Cerity Partners LLC’s holdings in L3Harris Technologies were worth $13,723,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of LHX. EntryPoint Capital LLC raised its position in shares of L3Harris Technologies by 70.4% in the first quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock valued at $36,000 after purchasing an additional 69 shares during the period. Silvercrest Asset Management Group LLC grew its holdings in shares of L3Harris Technologies by 1.8% during the first quarter. Silvercrest Asset Management Group LLC now owns 49,319 shares of the company’s stock worth $10,510,000 after purchasing an additional 865 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its position in shares of L3Harris Technologies by 2.8% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 7,074 shares of the company’s stock valued at $1,507,000 after buying an additional 193 shares in the last quarter. Coppell Advisory Solutions Corp. bought a new stake in L3Harris Technologies during the first quarter worth about $2,199,000. Finally, Comerica Bank grew its position in L3Harris Technologies by 5.1% during the first quarter. Comerica Bank now owns 86,019 shares of the company’s stock valued at $18,331,000 after acquiring an additional 4,148 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insiders Place Their Bets

In other news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $3,261,095.04. This represents a 18.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 8,964 shares of company stock worth $2,179,119 in the last 90 days. 0.87% of the stock is currently owned by corporate insiders.

L3Harris Technologies Stock Performance

Shares of NYSE LHX opened at $240.64 on Tuesday. The stock has a market cap of $45.64 billion, a PE ratio of 38.02, a price-to-earnings-growth ratio of 2.07 and a beta of 0.72. 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 fifty day moving average price of $245.04 and a 200-day moving average price of $233.54. L3Harris Technologies, Inc. has a 1 year low of $187.37 and a 1 year high of $265.74.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, topping analysts’ consensus estimates of $3.27 by $0.07. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. 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 prior year, the company posted $3.19 earnings per share. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. Equities analysts anticipate that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders 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 yield of 1.93%. L3Harris Technologies’s dividend payout ratio is currently 73.30%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on LHX shares. Wells Fargo & Company increased their target price on L3Harris Technologies from $260.00 to $295.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Barclays raised their price objective 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. Bank of America upgraded shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and increased their price target for the stock from $240.00 to $300.00 in a research note on Thursday, October 31st. StockNews.com raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. Finally, Susquehanna upped their price objective 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 stock. According to data from MarketBeat, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $267.50.

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.