L3Harris Technologies, Inc. (NYSE:LHX) Shares Bought by Empower Advisory Group LLC

Empower Advisory Group LLC lifted its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 2.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 361,475 shares of the company's stock after buying an additional 7,848 shares during the period. Empower Advisory Group LLC owned approximately 0.19% of L3Harris Technologies worth $85,984,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Meeder Asset Management Inc. lifted its position in L3Harris Technologies by 260.6% in the second quarter. Meeder Asset Management Inc. now owns 119 shares of the company's stock valued at $27,000 after purchasing an additional 86 shares during the period. EntryPoint Capital LLC lifted its position in L3Harris Technologies by 70.4% in the first quarter. EntryPoint Capital LLC now owns 167 shares of the company's stock valued at $36,000 after purchasing an additional 69 shares during the period. Kennebec Savings Bank purchased a new position in L3Harris Technologies in the third quarter valued at about $36,000. Versant Capital Management Inc increased its holdings in L3Harris Technologies by 77.7% in the second quarter. Versant Capital Management Inc now owns 183 shares of the company's stock valued at $41,000 after buying an additional 80 shares in the last quarter. Finally, Family Firm Inc. purchased a new position in L3Harris Technologies in the second quarter valued at about $45,000. Institutional investors and hedge funds own 84.76% of the company's stock.

L3Harris Technologies Trading Up 0.3 %

Shares of LHX traded up $0.67 during mid-day trading on Wednesday, reaching $262.39. The company had a trading volume of 330,297 shares, compared to its average volume of 904,645. The stock has a market cap of $49.77 billion, a price-to-earnings ratio of 41.73, a price-to-earnings-growth ratio of 2.18 and a beta of 0.72. The firm has a fifty day simple moving average of $241.95 and a 200-day simple moving average of $231.48. L3Harris Technologies, Inc. has a fifty-two week low of $183.23 and a fifty-two week high of $265.74. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced 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 company had revenue of $5.29 billion for 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% on a year-over-year basis. During the same quarter last year, the business earned $3.19 EPS. On average, sell-side analysts anticipate that L3Harris Technologies, Inc. will post 13.09 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be issued a dividend of $1.16 per share. The ex-dividend date is Monday, November 18th. This represents a $4.64 annualized dividend and a dividend yield of 1.77%. L3Harris Technologies's payout ratio is 73.30%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on LHX. Truist Financial increased their target price on shares of L3Harris Technologies from $293.00 to $300.00 and gave the company a "buy" rating in a report on Monday, October 28th. Deutsche Bank Aktiengesellschaft dropped their target price 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. Susquehanna increased their target price on shares of L3Harris Technologies from $260.00 to $270.00 and gave the company a "positive" rating in a report on Monday, July 29th. Wolfe Research raised shares of L3Harris Technologies from a "peer perform" rating to an "outperform" rating and set a $300.00 price objective for the company in a research note on Thursday, October 10th. Finally, Citigroup raised their price objective 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. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $267.50.

Insider Activity at L3Harris Technologies

In related 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 transaction, the insider now owns 10,340 shares in the company, valued at approximately $2,563,596.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last 90 days, insiders have sold 8,964 shares of company stock worth $2,179,119. 0.82% of the stock is currently owned by corporate insiders.

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.