L3Harris Technologies, Inc. (NYSE:LHX) Shares Acquired by Eagle Asset Management Inc.

Eagle Asset Management Inc. boosted its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 37.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,183 shares of the company’s stock after purchasing an additional 2,765 shares during the period. Eagle Asset Management Inc.’s holdings in L3Harris Technologies were worth $2,654,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of LHX. Meeder Asset Management Inc. grew its position in shares of L3Harris Technologies by 260.6% during the second quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock worth $27,000 after buying an additional 86 shares in the last quarter. Archer Investment Corp grew its holdings in L3Harris Technologies by 48.9% during the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after acquiring an additional 43 shares in the last quarter. Kennebec Savings Bank acquired a new position in L3Harris Technologies during the 3rd quarter worth $36,000. EntryPoint Capital LLC increased its position in shares of L3Harris Technologies by 70.4% in the 1st quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock worth $36,000 after purchasing an additional 69 shares during the last quarter. Finally, Versant Capital Management Inc raised its stake in shares of L3Harris Technologies by 77.7% in the 2nd quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock valued at $41,000 after purchasing an additional 80 shares in the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 13,328 shares of the company’s stock, valued at $3,261,095.04. This trade represents a 18.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold 8,964 shares of company stock worth $2,179,119 over the last quarter. 0.87% of the stock is currently owned by company insiders.

L3Harris Technologies Stock Down 3.0 %

Shares of L3Harris Technologies stock opened at $240.64 on Tuesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87. L3Harris Technologies, Inc. has a 1-year low of $187.37 and a 1-year high of $265.74. The business’s fifty day moving average price is $245.04 and its two-hundred day moving average price is $233.54. The company has a market capitalization of $45.64 billion, a P/E ratio of 38.02, a PEG ratio of 2.07 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $5.28 billion. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The company’s revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the business earned $3.19 earnings per share. As a group, research analysts forecast that L3Harris Technologies, Inc. will post 13.09 EPS for the current year.

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be paid a dividend of $1.16 per share. The ex-dividend date is Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.93%. L3Harris Technologies’s dividend payout ratio is presently 73.30%.

Wall Street Analysts Forecast Growth

LHX has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft decreased their price target on L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a research note on Thursday, October 3rd. Susquehanna lifted their target price on L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research report on Monday, July 29th. Bank of America raised L3Harris Technologies from a “neutral” rating to a “buy” rating and upped their price target for the company from $240.00 to $300.00 in a research report on Thursday, October 31st. Citigroup lifted their price objective on shares of L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Barclays increased their target price on shares of L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $267.50.

About L3Harris Technologies

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.