HM Payson & Co. Raises Stake in L3Harris Technologies, Inc. (NYSE:LHX)

HM Payson & Co. lifted its position in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 4.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 454,471 shares of the company's stock after acquiring an additional 17,786 shares during the quarter. L3Harris Technologies accounts for approximately 1.9% of HM Payson & Co.'s portfolio, making the stock its 12th largest holding. HM Payson & Co. owned about 0.24% of L3Harris Technologies worth $108,105,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of LHX. Wealth Enhancement Advisory Services LLC lifted its holdings 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 purchasing an additional 6,634 shares in the last quarter. Edgestream Partners L.P. lifted its holdings in L3Harris Technologies by 151.6% in the 1st quarter. Edgestream Partners L.P. now owns 3,859 shares of the company's stock worth $822,000 after buying an additional 2,325 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in L3Harris Technologies by 35.1% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 35,953 shares of the company's stock valued at $7,661,000 after purchasing an additional 9,341 shares during the last quarter. Creative Planning grew its stake in L3Harris Technologies by 1.2% during the 3rd quarter. Creative Planning now owns 41,588 shares of the company's stock valued at $9,893,000 after purchasing an additional 512 shares in the last quarter. Finally, Mutual Advisors LLC increased its holdings in L3Harris Technologies by 88.7% during the 1st quarter. Mutual Advisors LLC now owns 8,576 shares of the company's stock worth $1,827,000 after purchasing an additional 4,031 shares during the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Ross Niebergall sold 2,988 shares of the business's 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 transaction, the insider now directly owns 13,328 shares in the company, valued at $3,261,095.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.82% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on LHX shares. Deutsche Bank Aktiengesellschaft decreased 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. Wolfe Research raised shares of L3Harris Technologies from a "peer perform" rating to an "outperform" rating and set a $300.00 target price on the stock in a research report on Thursday, October 10th. Morgan Stanley downgraded L3Harris Technologies from an "overweight" rating to an "equal weight" rating and dropped their target price for the company from $275.00 to $257.00 in a report on Friday, August 9th. Royal Bank of Canada raised their price objective on shares of L3Harris Technologies from $240.00 to $265.00 and gave the company a "sector perform" rating in a research report on Monday. Finally, StockNews.com raised L3Harris Technologies from a "hold" rating to a "buy" rating in a research report on Monday. Four equities 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, L3Harris Technologies has an average rating of "Moderate Buy" and an average price target of $264.07.

L3Harris Technologies Trading Up 0.8 %

L3Harris Technologies stock traded up $2.06 during trading hours on Thursday, reaching $247.47. The company had a trading volume of 1,250,138 shares, compared to its average volume of 911,911. The company has a 50-day moving average price of $238.05 and a 200 day moving average price of $228.24. The firm has a market cap of $46.95 billion, a price-to-earnings ratio of 40.09, a P/E/G ratio of 2.10 and a beta of 0.73. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.90 and a quick ratio of 0.74. L3Harris Technologies, Inc. has a 12-month low of $176.15 and a 12-month high of $258.89.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its earnings results on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, topping the consensus estimate 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 5.73% and a return on equity of 13.02%. The business's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the company earned $3.19 earnings per share. Equities analysts forecast that L3Harris Technologies, Inc. will post 13.06 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be paid 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 dividend payout ratio is presently 75.32%.

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.