150,940 Shares in L3Harris Technologies, Inc. (NYSE:LHX) Bought by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC bought a new stake in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 150,940 shares of the company's stock, valued at approximately $35,904,000. Janney Montgomery Scott LLC owned approximately 0.08% of L3Harris Technologies as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of LHX. Vanguard Group Inc. raised its holdings in shares of L3Harris Technologies by 12.9% in the 1st quarter. Vanguard Group Inc. now owns 22,792,779 shares of the company's stock worth $4,857,141,000 after purchasing an additional 2,606,267 shares during the period. Manning & Napier Advisors LLC bought a new stake in shares of L3Harris Technologies in the second quarter valued at $210,886,000. Envestnet Asset Management Inc. lifted its position in shares of L3Harris Technologies by 236.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 989,340 shares of the company's stock valued at $222,186,000 after buying an additional 695,582 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of L3Harris Technologies by 19.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,174,181 shares of the company's stock worth $712,858,000 after acquiring an additional 523,315 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in shares of L3Harris Technologies by 65.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 434,287 shares of the company's stock worth $97,532,000 after acquiring an additional 171,420 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Price Performance

Shares of NYSE LHX traded down $0.41 during mid-day trading on Monday, reaching $247.07. 791,373 shares of the company were exchanged, compared to its average volume of 911,082. L3Harris Technologies, Inc. has a 52 week low of $179.56 and a 52 week high of $258.89. The company's 50 day moving average price is $238.70 and its 200 day moving average price is $229.07. The stock has a market capitalization of $46.86 billion, a PE ratio of 39.02, a PEG ratio of 2.12 and a beta of 0.72. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its quarterly 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 firm had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.28 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The company's revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.19 earnings per share. Sell-side analysts forecast that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be paid a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 1.88%. The ex-dividend date is Monday, November 18th. L3Harris Technologies's dividend payout ratio is currently 73.30%.

Insider Buying and Selling at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $236.68, for a total value of $707,199.84. Following the transaction, the insider now owns 16,316 shares in the company, valued at $3,861,670.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.82% of the company's stock.

Analyst Ratings Changes

LHX has been the topic of several recent research reports. Citigroup upped their price objective on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a "buy" rating in a report on Thursday, October 10th. StockNews.com raised shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a report on Monday, October 28th. Wells Fargo & Company boosted their target price on shares of L3Harris Technologies from $260.00 to $295.00 and gave the company an "overweight" rating in a report on Monday, October 28th. Truist Financial raised their price target on L3Harris Technologies from $293.00 to $300.00 and gave the stock a "buy" rating in a report on Monday, October 28th. Finally, Barclays raised their target price on L3Harris Technologies from $245.00 to $265.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 30th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $267.50.

L3Harris Technologies 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.