Cerity Partners LLC Has $13.72 Million Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Cerity Partners LLC boosted its stake in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 11.8% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 57,691 shares of the company's stock after buying an additional 6,100 shares during the period. Cerity Partners LLC's holdings in L3Harris Technologies were worth $13,723,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of LHX. OneDigital Investment Advisors LLC increased its stake in shares of L3Harris Technologies by 0.5% during the third quarter. OneDigital Investment Advisors LLC now owns 7,915 shares of the company's stock worth $1,883,000 after purchasing an additional 40 shares during the period. Koshinski Asset Management Inc. lifted its holdings in shares of L3Harris Technologies by 2.7% during the third quarter. Koshinski Asset Management Inc. now owns 1,620 shares of the company's stock worth $385,000 after buying an additional 42 shares in the last quarter. RFG Advisory LLC boosted its position in shares of L3Harris Technologies by 3.1% in the second quarter. RFG Advisory LLC now owns 1,416 shares of the company's stock valued at $318,000 after acquiring an additional 43 shares during the period. Blossom Wealth Management grew its stake in shares of L3Harris Technologies by 1.7% in the third quarter. Blossom Wealth Management now owns 2,538 shares of the company's stock valued at $604,000 after acquiring an additional 43 shares in the last quarter. Finally, Nicholas Hoffman & Company LLC. increased its position in 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 period. 84.76% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Ross Niebergall sold 2,988 shares of the company's 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 sale, the insider now directly owns 16,316 shares of the company's stock, valued at approximately $3,861,670.88. This represents a 15.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last three months, insiders have sold 8,964 shares of company stock valued at $2,179,119. 0.87% of the stock is currently owned by company insiders.

L3Harris Technologies Price Performance

Shares of NYSE LHX traded up $4.90 during midday trading on Tuesday, reaching $245.50. 372,556 shares of the company were exchanged, compared to its average volume of 908,250. The stock's 50-day moving average price is $245.04 and its 200-day moving average price is $233.54. The stock has a market cap of $46.56 billion, a P/E ratio of 38.67, a PEG ratio of 2.07 and a beta of 0.72. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. L3Harris Technologies, Inc. has a one year low of $187.37 and a one year high of $265.74.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share 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 company had revenue of $5.29 billion for the quarter, compared to analysts' expectations of $5.28 billion. During the same period in the previous year, the business posted $3.19 earnings per share. The business's quarterly revenue was up 7.7% compared to the same quarter last year. On average, sell-side analysts anticipate that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently announced 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. This represents a $4.64 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend is Monday, November 18th. L3Harris Technologies's dividend payout ratio is currently 73.30%.

Analysts Set New Price Targets

LHX has been the topic of a number of analyst reports. Bank of America upgraded shares of L3Harris Technologies from a "neutral" rating to a "buy" rating and increased their target price for the stock from $240.00 to $300.00 in a research report on Thursday, October 31st. Wolfe Research upgraded L3Harris Technologies from a "peer perform" rating to an "outperform" rating and set a $300.00 price objective on the stock in a research note on Thursday, October 10th. Susquehanna lifted their price objective on L3Harris Technologies from $260.00 to $270.00 and gave the company a "positive" rating in a report on Monday, July 29th. Barclays increased their target price on L3Harris Technologies from $245.00 to $265.00 and gave the stock an "overweight" rating in a report on Tuesday, July 30th. Finally, Argus raised shares of L3Harris Technologies from a "hold" rating to a "buy" rating and set a $300.00 price objective for the company in a research report on Tuesday. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $269.67.

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.