Stonegate Investment Group LLC Purchases 396 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Stonegate Investment Group LLC raised its position in L3Harris Technologies, Inc. (NYSE:LHX) by 11.8% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 3,761 shares of the company’s stock after buying an additional 396 shares during the period. Stonegate Investment Group LLC’s holdings in L3Harris Technologies were worth $895,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of LHX. Vanguard Group Inc. boosted its position in L3Harris Technologies by 12.9% in the 1st quarter. Vanguard Group Inc. now owns 22,792,779 shares of the company’s stock valued at $4,857,141,000 after buying an additional 2,606,267 shares during the last quarter. Manning & Napier Advisors LLC bought a new position in shares of L3Harris Technologies in the 2nd quarter worth $210,886,000. Envestnet Asset Management Inc. boosted its position in shares of L3Harris Technologies by 236.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 989,340 shares of the company’s stock worth $222,186,000 after purchasing an additional 695,582 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of L3Harris Technologies by 19.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,174,181 shares of the company’s stock worth $712,858,000 after purchasing an additional 523,315 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of L3Harris Technologies by 65.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 434,287 shares of the company’s stock worth $97,532,000 after purchasing an additional 171,420 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Stock Up 0.2 %

Shares of LHX opened at $248.78 on Friday. L3Harris Technologies, Inc. has a one year low of $169.55 and a one year high of $249.16. The company has a market cap of $47.19 billion, a P/E ratio of 40.39, 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 current ratio of 0.90 and a quick ratio of 0.74. The firm has a 50 day simple moving average of $235.12 and a two-hundred day simple moving average of $225.81.

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

L3Harris Technologies Announces Dividend

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 dividend of $1.16 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.64 annualized dividend and a dividend yield of 1.87%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

Insider Transactions at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $236.68, for a total transaction of $707,199.84. Following the completion of the transaction, the insider now directly owns 16,316 shares in the company, valued at approximately $3,861,670.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

LHX has been the topic of several recent research reports. Wolfe Research upgraded L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target on the stock in a research report on Thursday, October 10th. Barclays raised their price objective on L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Royal Bank of Canada downgraded L3Harris Technologies from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $250.00 to $240.00 in a research note on Wednesday, August 14th. Morgan Stanley downgraded L3Harris Technologies from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $275.00 to $257.00 in a research note on Friday, August 9th. Finally, Susquehanna raised their price objective on L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research note on Monday, July 29th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $256.71.

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.