Tower Bridge Advisors Has $5.07 Million Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Tower Bridge Advisors cut its position in L3Harris Technologies, Inc. (NYSE:LHX) by 0.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,311 shares of the company’s stock after selling 114 shares during the quarter. Tower Bridge Advisors’ holdings in L3Harris Technologies were worth $5,069,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Atlanta Consulting Group Advisors LLC bought a new position in L3Harris Technologies in the 3rd quarter valued at approximately $304,000. Schear Investment Advisers LLC bought a new position in shares of L3Harris Technologies during the third quarter valued at $216,000. Maxwell Wealth Strategies Inc. raised its stake in shares of L3Harris Technologies by 30.7% during the third quarter. Maxwell Wealth Strategies Inc. now owns 8,324 shares of the company’s stock valued at $2,089,000 after acquiring an additional 1,954 shares during the last quarter. Natixis Advisors LLC lifted its holdings in shares of L3Harris Technologies by 5.6% during the third quarter. Natixis Advisors LLC now owns 214,938 shares of the company’s stock worth $51,127,000 after purchasing an additional 11,404 shares during the period. Finally, Mizuho Markets Americas LLC grew its stake in shares of L3Harris Technologies by 25.3% in the third quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company’s stock worth $195,704,000 after purchasing an additional 166,262 shares during the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction dated Wednesday, October 2nd. The shares were 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. This trade represents a 18.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 8,964 shares of company stock worth $2,179,119 over the last quarter. 0.82% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have commented on the company. Wolfe Research raised L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price on the stock in a report on Thursday, October 10th. Royal Bank of Canada lifted their price objective on L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a research note on Monday, October 28th. Citigroup increased their target price on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Morgan Stanley lowered shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $275.00 to $257.00 in a report on Friday, August 9th. Finally, Susquehanna upped 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. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $267.50.

L3Harris Technologies Stock Down 0.5 %

Shares of NYSE LHX opened at $247.00 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The firm has a market cap of $46.85 billion, a PE ratio of 39.02, a P/E/G ratio of 2.06 and a beta of 0.72. The company’s fifty day simple moving average is $243.16 and its 200 day simple moving average is $232.14. L3Harris Technologies, Inc. has a 12-month low of $184.34 and a 12-month 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 (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $5.28 billion. During the same quarter in the prior year, the firm earned $3.19 EPS. The business’s revenue was up 7.7% on a year-over-year basis. As a group, sell-side analysts forecast that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be paid 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 1.88%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 73.30%.

L3Harris Technologies 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.