Quarry LP Acquires New Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Quarry LP acquired a new stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 2,268 shares of the company’s stock, valued at approximately $539,000.

A number of other large investors also recently bought and sold shares of the business. OneDigital Investment Advisors LLC boosted its holdings in L3Harris Technologies by 0.5% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 7,915 shares of the company’s stock valued at $1,883,000 after acquiring an additional 40 shares during the period. Koshinski Asset Management Inc. boosted its holdings in L3Harris Technologies by 2.7% during the 3rd quarter. Koshinski Asset Management Inc. now owns 1,620 shares of the company’s stock valued at $385,000 after acquiring an additional 42 shares during the period. RFG Advisory LLC boosted its holdings in L3Harris Technologies by 3.1% during the 2nd quarter. RFG Advisory LLC now owns 1,416 shares of the company’s stock valued at $318,000 after acquiring an additional 43 shares during the period. Blossom Wealth Management boosted its holdings in L3Harris Technologies by 1.7% during the 3rd quarter. Blossom Wealth Management now owns 2,538 shares of the company’s stock valued at $604,000 after acquiring an additional 43 shares during the period. Finally, Nicholas Hoffman & Company LLC. lifted its holdings in shares of L3Harris Technologies by 3.3% in the 3rd quarter. Nicholas Hoffman & Company LLC. now owns 1,353 shares of the company’s stock worth $322,000 after buying an additional 43 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Trading Up 0.3 %

Shares of NYSE:LHX opened at $240.48 on Thursday. The business’s 50-day moving average is $246.57 and its 200 day moving average is $234.54. L3Harris Technologies, Inc. has a 1 year low of $193.34 and a 1 year high of $265.74. The firm has a market capitalization of $45.61 billion, a P/E ratio of 37.99, a P/E/G ratio of 2.00 and a beta of 0.72. 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 (NYSE:LHX) last announced its 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. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The company had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same period in the prior year, the company posted $3.19 EPS. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, research analysts predict that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 1.93%. The ex-dividend date is Monday, November 18th. L3Harris Technologies’s dividend payout ratio is currently 73.30%.

Analyst Upgrades and Downgrades

LHX has been the subject of several research reports. Bank of America upgraded L3Harris Technologies from a “neutral” rating to a “buy” rating and upped their target price for the stock from $240.00 to $300.00 in a report on Thursday, October 31st. Wolfe Research upgraded L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price for the company in a report on Thursday, October 10th. Truist Financial upped 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. Royal Bank of Canada upped their target price on L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. Finally, Citigroup upped their target price on L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $269.67.

Insider Activity at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total value of $731,103.84. Following the transaction, the insider now directly owns 13,328 shares of the company’s stock, valued at approximately $3,261,095.04. This represents a 18.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.82% of the stock is currently owned by corporate insiders.

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.