Advisors Asset Management Inc. Grows Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Advisors Asset Management Inc. grew its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 33.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,873 shares of the company's stock after buying an additional 6,174 shares during the quarter. Advisors Asset Management Inc.'s holdings in L3Harris Technologies were worth $5,917,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of LHX. O Shaughnessy Asset Management LLC raised its position in L3Harris Technologies by 47.7% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 10,880 shares of the company's stock valued at $2,319,000 after purchasing an additional 3,513 shares in the last quarter. Bessemer Group Inc. boosted its stake in shares of L3Harris Technologies by 111.6% during the first quarter. Bessemer Group Inc. now owns 13,629 shares of the company's stock valued at $2,904,000 after purchasing an additional 7,187 shares in the last quarter. Lake Street Advisors Group LLC bought a new stake in L3Harris Technologies during the 1st quarter valued at $235,000. Natixis raised its position in shares of L3Harris Technologies by 774.1% in the 1st quarter. Natixis now owns 6,337 shares of the company's stock worth $1,350,000 after acquiring an additional 5,612 shares in the last quarter. Finally, EntryPoint Capital LLC lifted its stake in shares of L3Harris Technologies by 70.4% during 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. Hedge funds and other institutional investors own 84.76% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on LHX shares. Wolfe Research raised 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. Susquehanna raised their target price on shares of L3Harris Technologies from $260.00 to $270.00 and gave the company a "positive" rating in a research note on Monday, July 29th. Royal Bank of Canada upped their price target on L3Harris Technologies from $240.00 to $265.00 and gave the stock a "sector perform" rating in a research report on Monday, October 28th. Citigroup raised their price objective on L3Harris Technologies from $268.00 to $291.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. Finally, Wells Fargo & Company upped their target price on L3Harris Technologies from $260.00 to $295.00 and gave the company an "overweight" rating in a research report on Monday, October 28th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, L3Harris Technologies currently has a consensus rating of "Moderate Buy" and an average price target of $267.50.

L3Harris Technologies Stock Performance

NYSE:LHX traded up $1.56 during mid-day trading on Friday, hitting $248.16. The company's stock had a trading volume of 592,215 shares, compared to its average volume of 908,871. The business's fifty day moving average is $244.49 and its two-hundred day moving average is $232.91. The stock has a market cap of $47.07 billion, a price-to-earnings ratio of 39.20, a PEG ratio of 2.03 and a beta of 0.72. 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.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its earnings results on Thursday, October 24th. The company reported $3.34 EPS for the quarter, topping the consensus estimate of $3.27 by $0.07. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The firm had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same period last year, the company earned $3.19 earnings per share. L3Harris Technologies's revenue for the quarter was up 7.7% compared to the same quarter last year. Analysts anticipate that L3Harris Technologies, Inc. will post 13.09 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be given a dividend of $1.16 per share. The ex-dividend date is Monday, November 18th. This represents a $4.64 annualized dividend and a yield of 1.87%. L3Harris Technologies's dividend payout ratio is presently 73.30%.

Insider Buying and Selling at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of the business's stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $244.68, for a total value of $731,103.84. Following the completion of the sale, the insider now owns 13,328 shares of the company's stock, valued at approximately $3,261,095.04. The trade was a 18.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders sold 8,964 shares of company stock valued at $2,179,119. Corporate 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.