Massachusetts Financial Services Co. MA Acquires 85,882 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Massachusetts Financial Services Co. MA lifted its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 5.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,542,333 shares of the company’s stock after acquiring an additional 85,882 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.81% of L3Harris Technologies worth $366,875,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. KCM Investment Advisors LLC boosted its position in L3Harris Technologies by 43.8% during the third quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company’s stock worth $4,584,000 after purchasing an additional 5,868 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in L3Harris Technologies by 17.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 43,838 shares of the company’s stock valued at $9,845,000 after buying an additional 6,634 shares during the last quarter. Creative Planning raised its holdings in L3Harris Technologies by 1.2% in the 3rd quarter. Creative Planning now owns 41,588 shares of the company’s stock valued at $9,893,000 after acquiring an additional 512 shares during the period. Manning & Napier Advisors LLC acquired a new stake in L3Harris Technologies during the second quarter worth approximately $210,886,000. Finally, Janney Montgomery Scott LLC acquired a new stake in L3Harris Technologies during the third quarter worth approximately $35,904,000. 84.76% of the stock is owned by institutional investors and hedge funds.

L3Harris Technologies Trading Up 0.9 %

NYSE LHX opened at $246.60 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58. The business has a fifty day simple moving average of $244.49 and a 200 day simple moving average of $232.91. L3Harris Technologies, Inc. has a 12 month low of $185.98 and a 12 month high of $265.74. The firm has a market capitalization of $46.77 billion, a P/E ratio of 38.96, a PEG ratio of 2.03 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, topping the consensus estimate of $3.27 by $0.07. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The business had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.28 billion. During the same period in the previous year, the company earned $3.19 earnings per share. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, analysts predict that L3Harris Technologies, Inc. will post 13.09 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently declared 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. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date is Monday, November 18th. L3Harris Technologies’s dividend payout ratio (DPR) is currently 73.30%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on LHX shares. Susquehanna lifted their price target on shares of L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research report on Monday, July 29th. Bank of America upgraded L3Harris Technologies from a “neutral” rating to a “buy” rating and upped their target price for the company from $240.00 to $300.00 in a research report on Thursday, October 31st. StockNews.com raised L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Morgan Stanley downgraded shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $275.00 to $257.00 in a research note on Friday, August 9th. Finally, Royal Bank of Canada increased their price target on shares of L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a research report on Monday, October 28th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $267.50.

Insider Activity at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $247.93, for a total transaction of $740,814.84. Following the completion of the transaction, the insider now owns 10,340 shares in the company, valued at approximately $2,563,596.20. This represents a 22.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 8,964 shares of company stock worth $2,179,119. 0.82% of the stock is owned by company insiders.

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.