Schulhoff & Co. Inc. Grows Position in L3Harris Technologies, Inc. (NYSE:LHX)

Schulhoff & Co. Inc. raised its position in L3Harris Technologies, Inc. (NYSE:LHX) by 12.7% in the third quarter, Holdings Channel.com reports. The institutional investor owned 1,995 shares of the company’s stock after purchasing an additional 225 shares during the period. Schulhoff & Co. Inc.’s holdings in L3Harris Technologies were worth $475,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Meeder Asset Management Inc. raised its position in L3Harris Technologies by 260.6% in the 2nd quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock valued at $27,000 after purchasing an additional 86 shares during the last quarter. EntryPoint Capital LLC raised its holdings 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 buying an additional 69 shares during the last quarter. Kennebec Savings Bank acquired a new stake in shares of L3Harris Technologies during the third quarter worth about $36,000. Versant Capital Management Inc grew its holdings in shares of L3Harris Technologies by 77.7% during the second quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock worth $41,000 after buying an additional 80 shares during the last quarter. Finally, Family Firm Inc. purchased a new position in shares of L3Harris Technologies during the second quarter worth about $45,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies 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 $3,261,095.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 8,964 shares of company stock valued at $2,179,119 in the last ninety days. Corporate insiders own 0.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on LHX shares. Morgan Stanley cut L3Harris Technologies from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $275.00 to $257.00 in a research report on Friday, August 9th. Royal Bank of Canada increased their price target on L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. Susquehanna boosted 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 reduced 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 note on Thursday, October 3rd. Finally, Wells Fargo & Company boosted their price target on shares of L3Harris Technologies from $260.00 to $295.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, L3Harris Technologies has an average rating of “Moderate Buy” and an average target price of $267.50.

L3Harris Technologies Stock Performance

Shares of LHX stock opened at $261.65 on Thursday. The stock has a fifty day moving average price of $242.46 and a 200 day moving average price of $231.69. 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 stock has a market cap of $49.63 billion, a PE ratio of 41.33, a P/E/G ratio of 2.18 and a beta of 0.72. L3Harris Technologies, Inc. has a 1 year low of $183.23 and a 1 year high of $265.74.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, beating analysts’ consensus estimates of $3.27 by $0.07. The business had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.28 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the business posted $3.19 earnings per share. Sell-side analysts forecast that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be given a $1.16 dividend. The ex-dividend date is Monday, November 18th. This represents a $4.64 annualized dividend and a dividend yield of 1.77%. L3Harris Technologies’s dividend payout ratio is presently 73.30%.

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.