L3Harris Technologies, Inc. (NYSE:LHX) Shares Purchased by Cornerstone Wealth Group LLC

Cornerstone Wealth Group LLC raised its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 3.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,066 shares of the company’s stock after purchasing an additional 408 shares during the period. Cornerstone Wealth Group LLC’s holdings in L3Harris Technologies were worth $3,346,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in LHX. Tandem Capital Management Corp ADV grew its position in shares of L3Harris Technologies by 4.4% during the third quarter. Tandem Capital Management Corp ADV now owns 8,067 shares of the company’s stock worth $1,919,000 after acquiring an additional 342 shares during the last quarter. Pinnacle Associates Ltd. grew its position in shares of L3Harris Technologies by 1.3% during the third quarter. Pinnacle Associates Ltd. now owns 27,332 shares of the company’s stock worth $6,501,000 after acquiring an additional 345 shares during the last quarter. First Trust Direct Indexing L.P. grew its position in shares of L3Harris Technologies by 4.0% during the third quarter. First Trust Direct Indexing L.P. now owns 5,856 shares of the company’s stock worth $1,393,000 after acquiring an additional 224 shares during the last quarter. Adell Harriman & Carpenter Inc. grew its position in shares of L3Harris Technologies by 2.1% during the third quarter. Adell Harriman & Carpenter Inc. now owns 3,347 shares of the company’s stock worth $796,000 after acquiring an additional 69 shares during the last quarter. Finally, Nicholas Hoffman & Company LLC. grew its position in shares of L3Harris Technologies by 3.3% during the third quarter. Nicholas Hoffman & Company LLC. now owns 1,353 shares of the company’s stock worth $322,000 after acquiring an additional 43 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on LHX shares. Wolfe Research upgraded shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target for the company in a research report on Thursday, October 10th. Citigroup increased their target price on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Barclays increased their target price on shares of L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Morgan Stanley lowered shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $275.00 to $257.00 in a research report on Friday, August 9th. Finally, Wells Fargo & Company increased their target price on shares of L3Harris Technologies from $260.00 to $295.00 and gave the company an “overweight” rating in a research report on Monday. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, L3Harris Technologies presently has an average rating of “Moderate Buy” and an average target price of $264.07.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of the company’s 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 owns 13,328 shares in the company, valued at $3,261,095.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.82% of the company’s stock.

L3Harris Technologies Price Performance

LHX stock opened at $245.54 on Thursday. The company has a current ratio of 0.90, a quick ratio of 0.74 and a debt-to-equity ratio of 0.56. L3Harris Technologies, Inc. has a one year low of $176.15 and a one year high of $258.89. The firm has a market capitalization of $46.58 billion, a PE ratio of 39.86, a P/E/G ratio of 2.10 and a beta of 0.73. The firm has a 50-day moving average of $238.05 and a two-hundred day moving average of $228.24.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, October 24th. The company reported $3.34 EPS for the quarter, beating analysts’ consensus estimates of $3.27 by $0.07. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The company had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.28 billion. During the same period in the prior year, the firm earned $3.19 earnings per share. The business’s quarterly revenue was up 7.7% on a year-over-year basis. On average, analysts forecast that L3Harris Technologies, Inc. will post 13.06 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be paid a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date is Monday, November 18th. L3Harris Technologies’s dividend payout ratio is presently 75.32%.

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.