Novare Capital Management LLC Has $10.29 Million Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Novare Capital Management LLC increased its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 7.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,246 shares of the company’s stock after buying an additional 2,868 shares during the period. Novare Capital Management LLC’s holdings in L3Harris Technologies were worth $10,287,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of L3Harris Technologies by 15.4% during the fourth quarter. Vanguard Group Inc. now owns 20,186,512 shares of the company’s stock worth $4,251,683,000 after purchasing an additional 2,692,771 shares in the last quarter. Wellington Management Group LLP lifted its holdings in L3Harris Technologies by 34.7% during the 4th quarter. Wellington Management Group LLP now owns 4,416,904 shares of the company’s stock worth $930,288,000 after buying an additional 1,138,549 shares in the last quarter. Manning & Napier Advisors LLC bought a new position in L3Harris Technologies in the 2nd quarter valued at $210,886,000. Envestnet Asset Management Inc. increased its stake in shares of L3Harris Technologies by 236.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 989,340 shares of the company’s stock valued at $222,186,000 after buying an additional 695,582 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of L3Harris Technologies by 19.7% during the second quarter. Bank of New York Mellon Corp now owns 3,174,181 shares of the company’s stock worth $712,858,000 after acquiring an additional 523,315 shares during the last quarter. 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 L3Harris Technologies 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 sale, the insider now directly owns 13,328 shares in the company, valued at $3,261,095.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.82% of the company’s stock.

Analyst Upgrades and Downgrades

LHX has been the subject of a number of research reports. Morgan Stanley lowered L3Harris Technologies from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $275.00 to $257.00 in a research report on Friday, August 9th. Wolfe Research raised shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target for the company in a research note on Thursday. Susquehanna raised their price objective on shares of L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research note on Monday, July 29th. 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. Finally, Citigroup lifted their price objective on L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a research note on Thursday. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $253.64.

L3Harris Technologies Stock Up 0.3 %

Shares of LHX traded up $0.72 on Monday, hitting $246.76. The company’s stock had a trading volume of 58,348 shares, compared to its average volume of 918,743. 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 firm has a market capitalization of $46.81 billion, a price-to-earnings ratio of 39.94, a P/E/G ratio of 2.08 and a beta of 0.73. The firm’s fifty day moving average price is $233.12 and its 200-day moving average price is $224.74. L3Harris Technologies, Inc. has a fifty-two week low of $169.55 and a fifty-two week high of $247.33.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, July 25th. The company reported $3.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.18 by $0.06. The firm had revenue of $5.30 billion during the quarter, compared to analysts’ expectations of $5.30 billion. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The company’s revenue was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.97 EPS. On average, equities research analysts expect that L3Harris Technologies, Inc. will post 13.06 EPS for the current year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were paid a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 1.88%. The ex-dividend date was Friday, September 6th. L3Harris Technologies’s payout ratio is 75.32%.

About L3Harris Technologies

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.