Massachusetts Financial Services Co. MA Acquires 85,882 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Massachusetts Financial Services Co. MA increased its position in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 5.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,542,333 shares of the company's stock after buying an additional 85,882 shares during the period. Massachusetts Financial Services Co. MA owned 0.81% of L3Harris Technologies worth $366,875,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. OneDigital Investment Advisors LLC increased its holdings in L3Harris Technologies by 0.5% in the third quarter. OneDigital Investment Advisors LLC now owns 7,915 shares of the company's stock worth $1,883,000 after buying an additional 40 shares during the last quarter. Koshinski Asset Management Inc. increased its holdings in L3Harris Technologies by 2.7% in 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 during the last quarter. RFG Advisory LLC increased its holdings in L3Harris Technologies by 3.1% in the second quarter. RFG Advisory LLC now owns 1,416 shares of the company's stock worth $318,000 after buying an additional 43 shares during the last quarter. Blossom Wealth Management increased its holdings in L3Harris Technologies by 1.7% in the third quarter. Blossom Wealth Management now owns 2,538 shares of the company's stock worth $604,000 after buying an additional 43 shares during the last quarter. Finally, Nicholas Hoffman & Company LLC. increased its holdings in L3Harris Technologies by 3.3% in the third quarter. Nicholas Hoffman & Company LLC. now owns 1,353 shares of the company's stock worth $322,000 after buying an additional 43 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company's stock.

L3Harris Technologies Stock Performance

LHX stock traded up $1.56 during midday trading on Friday, hitting $248.16. The stock had a trading volume of 592,215 shares, compared to its average volume of 908,873. The firm has a market capitalization of $47.07 billion, a price-to-earnings ratio of 39.20, a P/E/G ratio of 2.03 and a beta of 0.72. L3Harris Technologies, Inc. has a 52 week low of $187.37 and a 52 week high of $265.74. The stock has a 50-day simple moving average of $244.86 and a 200 day simple moving average of $233.15. 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 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. The company had revenue of $5.29 billion during the quarter, compared to analysts' expectations of $5.28 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The business's revenue was up 7.7% on a year-over-year basis. During the same period last year, the business earned $3.19 earnings per share. As a group, equities research analysts anticipate that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be issued a dividend of $1.16 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.87%. L3Harris Technologies's payout ratio is presently 73.30%.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total transaction of $731,103.84. Following the completion of the transaction, the insider now directly owns 13,328 shares of the company's stock, valued at approximately $3,261,095.04. This trade represents a 18.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders sold 8,964 shares of company stock valued at $2,179,119. 0.82% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

LHX has been the topic of several analyst reports. Truist Financial increased their price target on 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 lowered their price target on L3Harris Technologies from $252.00 to $250.00 and set a "hold" rating on the stock in a report on Thursday, October 3rd. Susquehanna increased their price target on L3Harris Technologies from $260.00 to $270.00 and gave the company a "positive" rating in a report on Monday, July 29th. Royal Bank of Canada increased their price target on L3Harris Technologies from $240.00 to $265.00 and gave the company a "sector perform" rating in a report on Monday, October 28th. Finally, Morgan Stanley downgraded L3Harris Technologies from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $275.00 to $257.00 in a report on Friday, August 9th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $267.50.

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.