Brown Brothers Harriman & Co. Acquires 60 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Brown Brothers Harriman & Co. raised its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 12.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 530 shares of the company’s stock after acquiring an additional 60 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in L3Harris Technologies were worth $126,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. DRW Securities LLC bought a new position in L3Harris Technologies during the third quarter worth about $426,000. Fisher Asset Management LLC boosted its stake in L3Harris Technologies by 16.5% during the 3rd quarter. Fisher Asset Management LLC now owns 1,555 shares of the company’s stock worth $370,000 after acquiring an additional 220 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in L3Harris Technologies by 12.1% during the third quarter. Daiwa Securities Group Inc. now owns 27,657 shares of the company’s stock valued at $6,579,000 after purchasing an additional 2,990 shares during the period. Marco Investment Management LLC increased its stake in L3Harris Technologies by 1.3% in the third quarter. Marco Investment Management LLC now owns 24,377 shares of the company’s stock valued at $5,799,000 after purchasing an additional 320 shares in the last quarter. Finally, SevenBridge Financial Group LLC raised its holdings in L3Harris Technologies by 1.0% in the third quarter. SevenBridge Financial Group LLC now owns 11,859 shares of the company’s stock worth $3,133,000 after purchasing an additional 112 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Trading Down 0.1 %

Shares of NYSE:LHX opened at $245.33 on Friday. The company’s 50-day moving average price is $245.96 and its two-hundred day moving average price is $233.88. L3Harris Technologies, Inc. has a one year low of $187.68 and a one year high of $265.74. 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 stock has a market capitalization of $46.53 billion, a PE ratio of 38.76, a price-to-earnings-growth ratio of 2.01 and a beta of 0.72.

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

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be paid a $1.16 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.64 annualized dividend and a dividend yield of 1.89%. L3Harris Technologies’s dividend payout ratio is presently 73.30%.

Analyst Ratings Changes

LHX has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft decreased their price target on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. Citigroup raised their price target on L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Truist Financial lifted their price objective on L3Harris Technologies from $293.00 to $300.00 and gave the company a “buy” rating in a report on Monday, October 28th. Wells Fargo & Company increased their target price on L3Harris Technologies from $260.00 to $295.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Finally, Bank of America raised shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and lifted their price target for the company from $240.00 to $300.00 in a research note on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $269.67.

Insider Buying and Selling

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $236.68, for a total value of $707,199.84. Following the completion of the sale, the insider now owns 16,316 shares in the company, valued at $3,861,670.88. This trade represents a 15.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders have sold 8,964 shares of company stock worth $2,179,119. Insiders own 0.82% of the company’s stock.

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.