MML Investors Services LLC Purchases 3,238 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

MML Investors Services LLC grew its holdings in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 8.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 41,163 shares of the company's stock after purchasing an additional 3,238 shares during the period. MML Investors Services LLC's holdings in L3Harris Technologies were worth $9,791,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp boosted its position in L3Harris Technologies by 19.7% in the second quarter. Bank of New York Mellon Corp now owns 3,174,181 shares of the company's stock valued at $712,858,000 after buying an additional 523,315 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of L3Harris Technologies by 1.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,039,832 shares of the company's stock valued at $485,215,000 after acquiring an additional 27,763 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in L3Harris Technologies by 5.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,542,333 shares of the company's stock worth $366,875,000 after acquiring an additional 85,882 shares during the last quarter. Diamond Hill Capital Management Inc. increased its holdings in L3Harris Technologies by 2.2% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 1,489,129 shares of the company's stock worth $334,429,000 after purchasing an additional 31,686 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in L3Harris Technologies by 12.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,405,337 shares of the company's stock valued at $315,611,000 after purchasing an additional 156,453 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company's stock.

L3Harris Technologies Stock Down 0.8 %

Shares of L3Harris Technologies stock traded down $1.81 during trading on Wednesday, reaching $228.87. 660,816 shares of the company traded hands, compared to its average volume of 908,978. The firm has a market capitalization of $43.41 billion, a PE ratio of 36.27, a P/E/G ratio of 1.96 and a beta of 0.72. L3Harris Technologies, Inc. has a 1-year low of $198.22 and a 1-year high of $265.74. The company has a 50 day moving average price of $246.23 and a 200-day moving average price of $234.87. 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 released its quarterly earnings data on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, topping the consensus estimate of $3.27 by $0.07. The firm had revenue of $5.29 billion for the quarter, compared to the consensus estimate 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 was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.19 earnings per share. As a group, equities research analysts expect that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Monday, November 18th were given a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date was Monday, November 18th. L3Harris Technologies's payout ratio is 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 dated Monday, November 4th. The shares were sold at an average price of $247.93, for a total value of $740,814.84. Following the sale, the insider now owns 10,340 shares of the company's stock, valued at approximately $2,563,596.20. The trade was a 22.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.82% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on LHX shares. Wells Fargo & Company reduced their price target on L3Harris Technologies from $295.00 to $287.00 and set an "overweight" rating on the stock in a report on Wednesday. Bank of America raised shares of L3Harris Technologies from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $240.00 to $300.00 in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft dropped their price target on shares of L3Harris Technologies from $252.00 to $250.00 and set a "hold" rating for the company in a research note on Thursday, October 3rd. Citigroup boosted 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. Finally, Argus raised L3Harris Technologies from a "hold" rating to a "buy" rating and set a $300.00 target price for the company in a research report on Tuesday, November 26th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $269.13.

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.