L3Harris Technologies, Inc. (NYSE:LHX) Shares Acquired by HCR Wealth Advisors

by · The Markets Daily

HCR Wealth Advisors lifted its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX – Free Report) by 3.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,391 shares of the company’s stock after purchasing an additional 387 shares during the quarter. HCR Wealth Advisors’ holdings in L3Harris Technologies were worth $2,948,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. PCA Investment Advisory Services Inc. purchased a new stake in shares of L3Harris Technologies in the fourth quarter valued at approximately $212,000. Voisard Asset Management Group Inc. acquired a new stake in shares of L3Harris Technologies in the fourth quarter valued at about $105,000. V Square Quantitative Management LLC boosted its holdings in L3Harris Technologies by 34.9% during the fourth quarter. V Square Quantitative Management LLC now owns 3,265 shares of the company’s stock worth $688,000 after buying an additional 845 shares in the last quarter. Integrated Advisors Network LLC acquired a new position in L3Harris Technologies during the fourth quarter worth about $3,907,000. Finally, Syon Capital LLC purchased a new position in L3Harris Technologies in the fourth quarter valued at about $232,000. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

L3Harris Technologies Trading Up 1.5 %

Shares of LHX traded up $3.69 during trading hours on Friday, hitting $246.04. The stock had a trading volume of 692,261 shares, compared to its average volume of 923,110. L3Harris Technologies, Inc. has a 12-month low of $169.55 and a 12-month high of $247.33. The firm has a market cap of $46.68 billion, a P/E ratio of 39.37, a P/E/G ratio of 2.08 and a beta of 0.73. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.74 and a current ratio of 0.90. The company’s fifty day simple moving average is $233.12 and its 200 day simple moving average is $224.56.

L3Harris Technologies (NYSE:LHX – Get Free Report) last released its quarterly earnings data on Thursday, July 25th. The company reported $3.24 earnings per share for the quarter, beating the consensus estimate of $3.18 by $0.06. The business had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.30 billion. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The company’s revenue was up 12.9% compared to the same quarter last year. During the same period in the previous year, the company posted $2.97 EPS. Equities research analysts forecast that L3Harris Technologies, Inc. will post 13.06 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend was Friday, September 6th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 74.24%.

Insiders Place Their Bets

In related news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction on 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 sale, the insider now directly owns 13,328 shares of the company’s stock, valued at approximately $3,261,095.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the firm’s 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 sale, the insider now owns 13,328 shares in the company, valued at $3,261,095.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Scott T. Mikuen sold 15,887 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $235.00, for a total value of $3,733,445.00. Following the completion of the transaction, the senior vice president now directly owns 47,616 shares in the company, valued at approximately $11,189,760. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,863 shares of company stock worth $5,171,749 in the last 90 days. 0.82% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

LHX has been the subject of several research analyst reports. Morgan Stanley downgraded L3Harris Technologies from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $275.00 to $257.00 in a research note on Friday, August 9th. Wolfe Research upgraded shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective on the stock in a research report on Thursday. Wells Fargo & Company lowered their price objective on shares of L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft reduced their price target on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Finally, Barclays upped their target price on L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $253.64.

Get Our Latest Analysis on LHX

About L3Harris Technologies

(Free Report)

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.

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