LRI Investments LLC Acquires 17,269 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

LRI Investments LLC increased its position in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 1,864.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,195 shares of the company's stock after buying an additional 17,269 shares during the period. LRI Investments LLC's holdings in L3Harris Technologies were worth $4,328,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Meeder Asset Management Inc. grew its stake in L3Harris Technologies by 260.6% during the 2nd 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 boosted its holdings in L3Harris Technologies by 48.9% in 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 during the 3rd quarter worth $36,000. Family Firm Inc. acquired a new position in L3Harris Technologies during the second quarter worth $45,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of L3Harris Technologies in the second quarter valued at about $57,000. Hedge funds and other institutional investors own 84.76% of the company's stock.

Insider Activity

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

L3Harris Technologies Price Performance

LHX stock traded down $4.88 during midday trading on Monday, reaching $229.76. 1,260,462 shares of the stock were exchanged, compared to its average volume of 909,067. The company has a fifty day moving average price of $246.69 and a 200 day moving average price of $234.77. The stock has a market capitalization of $43.58 billion, a PE ratio of 36.24, a P/E/G ratio of 1.96 and a beta of 0.72. L3Harris Technologies, Inc. has a 52 week low of $196.42 and a 52 week high of $265.74. 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 (NYSE:LHX - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.27 by $0.07. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The firm had revenue of $5.29 billion during the quarter, compared to analysts' expectations of $5.28 billion. During the same period last year, the company earned $3.19 earnings per share. The business's revenue was up 7.7% on a year-over-year basis. As a group, analysts expect 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. Shareholders of record on Monday, November 18th were issued a dividend of $1.16 per share. The ex-dividend date was Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a yield of 2.02%. L3Harris Technologies's payout ratio is 73.30%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on LHX shares. Bank of America upgraded L3Harris Technologies from a "neutral" rating to a "buy" rating and upped their target price for the company from $240.00 to $300.00 in a research note on Thursday, October 31st. Royal Bank of Canada lifted their target price 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. Wells Fargo & Company lifted their price target on L3Harris Technologies from $260.00 to $295.00 and gave the stock an "overweight" rating in a research note on Monday, October 28th. Deutsche Bank Aktiengesellschaft reduced their price objective 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. Finally, Truist Financial raised their target price on shares of L3Harris Technologies from $293.00 to $300.00 and gave the stock a "buy" rating in a report on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $269.67.

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.