Sanctuary Advisors LLC Purchases 3,740 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Sanctuary Advisors LLC boosted its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 13.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,634 shares of the company's stock after purchasing an additional 3,740 shares during the quarter. Sanctuary Advisors LLC's holdings in L3Harris Technologies were worth $7,602,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in LHX. Meeder Asset Management Inc. boosted its stake in L3Harris Technologies by 260.6% during the second quarter. Meeder Asset Management Inc. now owns 119 shares of the company's stock valued at $27,000 after buying an additional 86 shares in the last quarter. Archer Investment Corp increased its stake in L3Harris Technologies by 48.9% in the 3rd quarter. Archer Investment Corp now owns 131 shares of the company's stock worth $31,000 after purchasing an additional 43 shares in the last quarter. Kennebec Savings Bank acquired a new stake in L3Harris Technologies during the 3rd quarter worth about $36,000. Family Firm Inc. purchased a new stake in L3Harris Technologies during the second quarter valued at about $45,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of L3Harris Technologies in the second quarter worth approximately $57,000. 84.76% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were 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 in the company, valued at approximately $3,261,095.04. This trade represents a 18.31 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.82% of the stock is owned by insiders.

L3Harris Technologies Price Performance

NYSE LHX traded down $1.19 during midday trading on Friday, hitting $223.16. The company had a trading volume of 967,686 shares, compared to its average volume of 911,348. The company has a market capitalization of $42.33 billion, a PE ratio of 35.25, a P/E/G ratio of 1.91 and a beta of 0.72. L3Harris Technologies, Inc. has a twelve month low of $200.18 and a twelve month high of $265.74. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58. The firm has a 50-day moving average price of $245.13 and a 200-day moving average price of $234.86.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its earnings results on Thursday, October 24th. The company reported $3.34 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 the consensus estimate of $5.28 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The business's quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.19 earnings per share. As a group, analysts anticipate that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Monday, November 18th were given a dividend of $1.16 per share. The ex-dividend date was Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.08%. L3Harris Technologies's payout ratio is presently 73.30%.

Wall Street Analyst Weigh In

LHX has been the subject of a number of recent analyst reports. 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 research note on Thursday, October 3rd. Wolfe Research upgraded L3Harris Technologies from a "peer perform" rating to an "outperform" rating and set a $300.00 price target on the stock in a report on Thursday, October 10th. Wells Fargo & Company dropped their price target on L3Harris Technologies from $295.00 to $287.00 and set an "overweight" rating on the stock in a research report on Wednesday. StockNews.com upgraded L3Harris Technologies from a "hold" rating to a "buy" rating in a research report on Monday, October 28th. Finally, Citigroup upped their target price on L3Harris Technologies from $268.00 to $291.00 and gave the company a "buy" rating in a report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $269.13.

L3Harris Technologies Company 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.