Equitable Trust Co. Purchases 851 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Equitable Trust Co. grew its position in L3Harris Technologies, Inc. (NYSE:LHX) by 28.5% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,842 shares of the company’s stock after buying an additional 851 shares during the period. Equitable Trust Co.’s holdings in L3Harris Technologies were worth $914,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of L3Harris Technologies by 17.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 43,838 shares of the company’s stock valued at $9,845,000 after buying an additional 6,634 shares in the last quarter. Edgestream Partners L.P. boosted its stake in L3Harris Technologies by 151.6% in the 1st quarter. Edgestream Partners L.P. now owns 3,859 shares of the company’s stock worth $822,000 after purchasing an additional 2,325 shares in the last quarter. Creative Planning boosted its stake in L3Harris Technologies by 1.2% in the 3rd quarter. Creative Planning now owns 41,588 shares of the company’s stock worth $9,893,000 after purchasing an additional 512 shares in the last quarter. Manning & Napier Advisors LLC acquired a new stake in L3Harris Technologies in the 2nd quarter worth approximately $210,886,000. Finally, AdvisorNet Financial Inc boosted its stake in L3Harris Technologies by 700.2% in the 2nd quarter. AdvisorNet Financial Inc now owns 3,353 shares of the company’s stock worth $753,000 after purchasing an additional 2,934 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Ross Niebergall sold 2,988 shares of the business’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 sale, the insider now owns 13,328 shares of the company’s stock, valued at approximately $3,261,095.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders sold 8,964 shares of company stock valued at $2,179,119. 0.82% of the stock is owned by corporate insiders.

L3Harris Technologies Price Performance

NYSE:LHX opened at $260.60 on Friday. The firm has a market cap of $49.43 billion, a price-to-earnings ratio of 41.17, a price-to-earnings-growth ratio of 2.14 and a beta of 0.72. The company has a 50 day moving average price of $240.87 and a 200-day moving average price of $230.43. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87. L3Harris Technologies, Inc. has a 1-year low of $179.56 and a 1-year high of $261.75.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, October 24th. The company reported $3.34 EPS for the quarter, topping the consensus estimate of $3.27 by $0.07. The company had revenue of $5.29 billion during 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%. The firm’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.19 EPS. Equities research analysts forecast that L3Harris Technologies, Inc. will post 13.09 EPS for the current year.

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be issued a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 1.78%. The ex-dividend date is Monday, November 18th. L3Harris Technologies’s payout ratio is presently 73.30%.

Analyst Ratings Changes

A number of analysts recently commented on LHX shares. Barclays lifted their target price on shares of L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Wolfe Research upgraded shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price for the company in a research note on Thursday, October 10th. Royal Bank of Canada raised their price target 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. Susquehanna raised their price target on shares of L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research report on Monday, July 29th. Finally, Truist Financial raised their price target on shares of L3Harris Technologies from $293.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock 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.