Kovitz Investment Group Partners LLC Raises Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Kovitz Investment Group Partners LLC increased its position in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 219.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,875 shares of the company's stock after purchasing an additional 19,162 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in L3Harris Technologies were worth $6,032,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Meeder Asset Management Inc. boosted its stake in shares of L3Harris Technologies by 260.6% in the second quarter. Meeder Asset Management Inc. now owns 119 shares of the company's stock worth $27,000 after buying an additional 86 shares during the last quarter. Archer Investment Corp increased its holdings in shares of L3Harris Technologies by 48.9% during the 3rd quarter. Archer Investment Corp now owns 131 shares of the company's stock valued at $31,000 after purchasing an additional 43 shares in the last quarter. Kennebec Savings Bank acquired a new position in shares of L3Harris Technologies in the 3rd quarter valued at $36,000. Family Firm Inc. purchased a new stake in L3Harris Technologies during the second quarter worth $45,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in L3Harris Technologies during the second quarter valued at $57,000. Hedge funds and other institutional investors own 84.76% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on LHX. Argus upgraded 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, November 26th. StockNews.com raised L3Harris Technologies from a "hold" rating to a "buy" rating in a report on Monday, October 28th. Deutsche Bank Aktiengesellschaft reduced their target price on L3Harris Technologies from $252.00 to $250.00 and set a "hold" rating for the company in a research note on Thursday, October 3rd. Bank of America raised shares of L3Harris Technologies from a "neutral" rating to a "buy" rating and increased their price objective for the company from $240.00 to $300.00 in a report on Thursday, October 31st. Finally, Royal Bank of Canada boosted 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. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, L3Harris Technologies presently has a consensus rating of "Moderate Buy" and a consensus price target of $269.67.

L3Harris Technologies Trading Down 1.5 %

Shares of NYSE LHX traded down $3.50 during mid-day trading on Friday, reaching $234.64. 1,470,153 shares of the company's stock were exchanged, compared to its average volume of 824,430. The firm has a market capitalization of $44.50 billion, a price-to-earnings ratio of 37.07, a PEG ratio of 2.01 and a beta of 0.72. L3Harris Technologies, Inc. has a 52-week low of $193.34 and a 52-week high of $265.74. The company's 50-day moving average is $246.69 and its 200-day moving average is $234.70. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04.

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 business had revenue of $5.29 billion during the quarter, compared to analysts' expectations of $5.28 billion. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The business's revenue for the quarter was up 7.7% on a year-over-year basis. During the same period last year, the business earned $3.19 earnings per share. Analysts expect that L3Harris Technologies, Inc. will post 13.09 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Monday, November 18th were issued a $1.16 dividend. The ex-dividend date was Monday, November 18th. This represents a $4.64 annualized dividend and a dividend yield of 1.98%. L3Harris Technologies's dividend payout ratio is presently 73.30%.

Insider Buying and Selling

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the firm's stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $247.93, for a total value of $740,814.84. Following the completion of the transaction, the insider now owns 10,340 shares of the company's stock, valued at $2,563,596.20. This trade represents a 22.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.82% of the stock is 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.