DRW Securities LLC Makes New $426,000 Investment in L3Harris Technologies, Inc. (NYSE:LHX)

DRW Securities LLC acquired a new stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 1,792 shares of the company’s stock, valued at approximately $426,000.

A number of other hedge funds have also recently made changes to their positions in LHX. Fisher Asset Management LLC increased its holdings in L3Harris Technologies by 16.5% during the 3rd quarter. Fisher Asset Management LLC now owns 1,555 shares of the company’s stock worth $370,000 after purchasing an additional 220 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of L3Harris Technologies by 12.1% in the third quarter. Daiwa Securities Group Inc. now owns 27,657 shares of the company’s stock valued at $6,579,000 after purchasing an additional 2,990 shares in the last quarter. Marco Investment Management LLC boosted its position in shares of L3Harris Technologies by 1.3% during the third quarter. Marco Investment Management LLC now owns 24,377 shares of the company’s stock valued at $5,799,000 after buying an additional 320 shares during the last quarter. SevenBridge Financial Group LLC raised its position in L3Harris Technologies by 1.0% in the 3rd quarter. SevenBridge Financial Group LLC now owns 11,859 shares of the company’s stock valued at $3,133,000 after buying an additional 112 shares during the last quarter. Finally, MGB Wealth Management LLC lifted its stake in L3Harris Technologies by 35.0% during the 3rd quarter. MGB Wealth Management LLC now owns 1,929 shares of the company’s stock valued at $459,000 after acquiring an additional 500 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $236.68, for a total value of $707,199.84. Following the sale, the insider now directly owns 16,316 shares of the company’s stock, valued at approximately $3,861,670.88. This represents a 15.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders sold 8,964 shares of company stock worth $2,179,119. 0.87% of the stock is owned by corporate insiders.

L3Harris Technologies Trading Up 2.1 %

Shares of L3Harris Technologies stock opened at $245.57 on Wednesday. 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 capitalization of $46.58 billion, a P/E ratio of 38.79, a P/E/G ratio of 2.07 and a beta of 0.72. L3Harris Technologies, Inc. has a 52-week low of $187.37 and a 52-week high of $265.74. The stock’s 50-day simple moving average is $245.35 and its 200 day simple moving average is $233.72.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.27 by $0.07. The company had revenue of $5.29 billion for 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 company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.19 earnings per share. As a group, research analysts anticipate 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. Stockholders of record on Monday, November 18th will be issued a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend is Monday, November 18th. L3Harris Technologies’s payout ratio is currently 73.30%.

Wall Street Analyst Weigh In

LHX has been the subject of several analyst reports. Truist Financial increased their target price on shares of L3Harris Technologies from $293.00 to $300.00 and gave the company a “buy” rating in a report on Monday, October 28th. Wells Fargo & Company lifted their target price on shares of L3Harris Technologies from $260.00 to $295.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Barclays boosted their target price on L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Morgan Stanley downgraded L3Harris Technologies from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $275.00 to $257.00 in a research report on Friday, August 9th. Finally, Citigroup boosted their price objective on L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, L3Harris Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $269.67.

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.