Aptus Capital Advisors LLC Buys 405 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Aptus Capital Advisors LLC lifted its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 18.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,657 shares of the company’s stock after buying an additional 405 shares during the period. Aptus Capital Advisors LLC’s holdings in L3Harris Technologies were worth $632,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in LHX. Vanguard Group Inc. lifted its stake in shares of L3Harris Technologies by 12.9% in the first 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 period. Manning & Napier Advisors LLC bought a new position in L3Harris Technologies during the second quarter worth about $210,886,000. Envestnet Asset Management Inc. lifted its stake in L3Harris Technologies by 236.8% during the second 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 period. Bank of New York Mellon Corp lifted its stake in L3Harris Technologies by 19.7% during the second 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 period. Finally, The Manufacturers Life Insurance Company lifted its stake in L3Harris Technologies by 65.2% during the second 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 period. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock opened at $247.00 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87. The firm has a market cap of $46.85 billion, a P/E ratio of 39.05, a P/E/G ratio of 2.18 and a beta of 0.72. The firm has a 50 day simple moving average of $242.77 and a 200 day simple moving average of $231.81. L3Harris Technologies, Inc. has a fifty-two week low of $184.34 and a fifty-two week high of $265.74.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, beating analysts’ consensus estimates of $3.27 by $0.07. The business had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.28 billion. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. L3Harris Technologies’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter last year, the business posted $3.19 earnings per share. Sell-side analysts predict that L3Harris Technologies, Inc. will post 13.09 earnings per share 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 is currently 73.30%.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction on Monday, November 4th. The shares were sold at an average price of $247.93, for a total transaction of $740,814.84. Following the completion of the sale, the insider now owns 10,340 shares of the company’s stock, valued at approximately $2,563,596.20. The trade was a 22.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders sold 8,964 shares of company stock valued at $2,179,119. Company insiders own 0.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on LHX. Deutsche Bank Aktiengesellschaft cut their price target on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a research note on Thursday, October 3rd. StockNews.com upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. Royal Bank of Canada raised 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 note on Monday, October 28th. Citigroup raised their price target on shares of L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, Truist Financial raised their price target on shares of L3Harris Technologies from $293.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $267.50.

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.