Prospera Financial Services Inc Purchases 5,185 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Prospera Financial Services Inc raised its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 13.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,115 shares of the company's stock after buying an additional 5,185 shares during the quarter. Prospera Financial Services Inc's holdings in L3Harris Technologies were worth $10,257,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Meeder Asset Management Inc. lifted its position in shares of L3Harris Technologies by 260.6% during the second quarter. Meeder Asset Management Inc. now owns 119 shares of the company's stock worth $27,000 after purchasing an additional 86 shares during the last quarter. Archer Investment Corp grew its stake in shares of L3Harris Technologies by 48.9% during the third quarter. Archer Investment Corp now owns 131 shares of the company's stock worth $31,000 after acquiring an additional 43 shares during the last quarter. EntryPoint Capital LLC grew its stake in shares of L3Harris Technologies by 70.4% during the first quarter. EntryPoint Capital LLC now owns 167 shares of the company's stock worth $36,000 after acquiring an additional 69 shares during the last quarter. Kennebec Savings Bank purchased a new stake in L3Harris Technologies in the third quarter valued at approximately $36,000. Finally, Versant Capital Management Inc boosted its position in L3Harris Technologies by 77.7% in the second quarter. Versant Capital Management Inc now owns 183 shares of the company's stock valued at $41,000 after buying an additional 80 shares during the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on LHX. Barclays boosted their price target on L3Harris Technologies from $245.00 to $265.00 and gave the company an "overweight" rating in a report on Tuesday, July 30th. Citigroup increased their price objective on L3Harris Technologies from $268.00 to $291.00 and gave the company a "buy" rating in a research note on Thursday, October 10th. Wolfe Research upgraded L3Harris Technologies from a "peer perform" rating to an "outperform" rating and set a $300.00 target price for the company in a report on Thursday, October 10th. StockNews.com upgraded L3Harris Technologies from a "hold" rating to a "buy" rating in a report on Monday, October 28th. Finally, Truist Financial increased 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. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $267.50.

L3Harris Technologies Stock Performance

Shares of NYSE LHX traded up $0.15 during mid-day trading on Tuesday, hitting $244.42. The company had a trading volume of 264,660 shares, compared to its average volume of 908,644. The firm's 50 day simple moving average is $243.46 and its two-hundred day simple moving average is $232.52. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87. The stock has a market cap of $46.36 billion, a price-to-earnings ratio of 38.82, a PEG ratio of 2.06 and a beta of 0.72. L3Harris Technologies, Inc. has a 12 month low of $184.34 and a 12 month high of $265.74.

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, beating the consensus estimate of $3.27 by $0.07. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The company had revenue of $5.29 billion for the quarter, compared to analysts' expectations of $5.28 billion. During the same period last year, the firm earned $3.19 EPS. The firm's revenue for the quarter was up 7.7% on a year-over-year basis. As a group, equities research analysts forecast that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be given a dividend of $1.16 per share. The ex-dividend date is Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a yield of 1.90%. L3Harris Technologies's payout ratio is 73.30%.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the business's stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total value of $731,103.84. Following the completion of the sale, the insider now owns 13,328 shares of the company's stock, valued at $3,261,095.04. The trade was a 18.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders sold 8,964 shares of company stock valued at $2,179,119. Insiders own 0.87% of the company's stock.

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.