Geode Capital Management LLC Purchases 59,008 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Geode Capital Management LLC lifted its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 1.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,734,832 shares of the company's stock after purchasing an additional 59,008 shares during the period. Geode Capital Management LLC owned 2.50% of L3Harris Technologies worth $1,122,630,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. KCM Investment Advisors LLC increased its position in L3Harris Technologies by 43.8% in the third quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company's stock worth $4,584,000 after buying an additional 5,868 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in L3Harris Technologies by 17.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 43,838 shares of the company's stock valued at $9,845,000 after acquiring an additional 6,634 shares during the period. Creative Planning lifted its holdings in L3Harris Technologies by 1.2% during the third quarter. Creative Planning now owns 41,588 shares of the company's stock valued at $9,893,000 after purchasing an additional 512 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in L3Harris Technologies during the third quarter valued at about $35,904,000. Finally, AdvisorNet Financial Inc boosted its position in L3Harris Technologies by 700.2% during the second quarter. AdvisorNet Financial Inc now owns 3,353 shares of the company's stock worth $753,000 after purchasing an additional 2,934 shares during the period. Institutional investors own 84.76% of the company's stock.

L3Harris Technologies Price Performance

NYSE LHX traded down $1.81 during trading hours on Wednesday, reaching $228.87. 660,816 shares of the stock traded hands, compared to its average volume of 908,978. 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 50 day simple moving average of $246.23 and a two-hundred day simple moving average of $234.87. L3Harris Technologies, Inc. has a 1 year low of $198.22 and a 1 year high of $265.74. The company has a market cap of $43.41 billion, a price-to-earnings ratio of 36.27, a price-to-earnings-growth ratio of 1.96 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced 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. 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 last year, the firm posted $3.19 EPS. L3Harris Technologies's revenue for the quarter was up 7.7% compared to the same quarter last year. On average, analysts predict that L3Harris Technologies, Inc. will post 13.09 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Monday, November 18th were issued a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend was Monday, November 18th. L3Harris Technologies's dividend payout ratio is currently 73.30%.

Insider Buying and Selling

In other news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total value of $731,103.84. Following the transaction, the insider now owns 13,328 shares in the company, valued at approximately $3,261,095.04. The trade was a 18.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.82% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on LHX. Argus upgraded shares of L3Harris Technologies from a "hold" rating to a "buy" rating and set a $300.00 price target on the stock in a research note on Tuesday, November 26th. Truist Financial increased their target price on L3Harris Technologies from $293.00 to $300.00 and gave the stock a "buy" rating in a research report on Monday, October 28th. Royal Bank of Canada lifted their price target on L3Harris Technologies from $240.00 to $265.00 and gave the company a "sector perform" rating in a research report on Monday, October 28th. StockNews.com raised L3Harris Technologies from a "hold" rating to a "buy" rating in a report on Monday, October 28th. Finally, Bank of America upgraded L3Harris Technologies from a "neutral" rating to a "buy" rating and raised their target price for the stock 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 company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $269.13.

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.