1,654 Shares in L3Harris Technologies, Inc. (NYSE:LHX) Purchased by Kestra Investment Management LLC

Kestra Investment Management LLC bought a new stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,654 shares of the company’s stock, valued at approximately $393,000.

Several other large investors have also recently bought and sold shares of the stock. KCM Investment Advisors LLC lifted its holdings in shares of L3Harris Technologies by 43.8% in the third quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company’s stock valued at $4,584,000 after buying an additional 5,868 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of L3Harris Technologies by 17.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 43,838 shares of the company’s stock valued at $9,845,000 after purchasing an additional 6,634 shares in the last quarter. Creative Planning grew its stake in shares of 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 during the last quarter. Manning & Napier Advisors LLC acquired a new position in shares of L3Harris Technologies in the 2nd quarter worth approximately $210,886,000. Finally, Janney Montgomery Scott LLC bought a new stake in shares of L3Harris Technologies in the 3rd quarter worth approximately $35,904,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Stock Down 1.4 %

LHX stock opened at $242.82 on Tuesday. The company has a 50 day moving average of $246.22 and a two-hundred day moving average of $234.23. The company has a market cap of $46.06 billion, a price-to-earnings ratio of 38.36, a PEG ratio of 2.05 and a beta of 0.72. L3Harris Technologies, Inc. has a 12-month low of $192.95 and a 12-month high of $265.74. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58.

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, beating analysts’ consensus estimates of $3.27 by $0.07. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The firm had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.28 billion. During the same quarter last year, the firm earned $3.19 earnings per share. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, equities analysts anticipate that L3Harris Technologies, Inc. will post 13.1 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. Investors of record on Monday, November 18th will be issued a $1.16 dividend. The ex-dividend date is Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a yield of 1.91%. L3Harris Technologies’s dividend payout ratio is currently 73.30%.

Analyst Ratings Changes

A number of brokerages recently weighed in on LHX. Citigroup raised their target price on shares of L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Truist Financial lifted their target price on L3Harris Technologies from $293.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Morgan Stanley lowered L3Harris Technologies from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $275.00 to $257.00 in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft decreased their price target on 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, Wolfe Research upgraded L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective on the stock in a report on Thursday, October 10th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, L3Harris Technologies currently has an average rating of “Moderate Buy” and an average price target of $269.67.

Insider Activity at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $247.93, for a total value of $740,814.84. Following the completion of the sale, the insider now directly owns 10,340 shares in the company, valued at approximately $2,563,596.20. This represents a 22.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.82% of the company’s stock.

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.