Wilmington Savings Fund Society FSB Makes New $1.70 Million Investment in L3Harris Technologies, Inc. (NYSE:LHX)

Wilmington Savings Fund Society FSB purchased a new position in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 7,165 shares of the company's stock, valued at approximately $1,704,000.

Other institutional investors also recently added to or reduced their stakes in the company. OneDigital Investment Advisors LLC grew its position in shares of L3Harris Technologies by 0.5% during the third quarter. OneDigital Investment Advisors LLC now owns 7,915 shares of the company's stock worth $1,883,000 after acquiring an additional 40 shares during the last quarter. Koshinski Asset Management Inc. boosted its stake in L3Harris Technologies by 2.7% during the 3rd quarter. Koshinski Asset Management Inc. now owns 1,620 shares of the company's stock worth $385,000 after purchasing an additional 42 shares during the period. Blossom Wealth Management grew its position in L3Harris Technologies by 1.7% during the 3rd quarter. Blossom Wealth Management now owns 2,538 shares of the company's stock worth $604,000 after purchasing an additional 43 shares during the last quarter. Nicholas Hoffman & Company LLC. increased its stake in L3Harris Technologies by 3.3% in the third quarter. Nicholas Hoffman & Company LLC. now owns 1,353 shares of the company's stock valued at $322,000 after purchasing an additional 43 shares during the period. Finally, Archer Investment Corp raised its holdings in shares of L3Harris Technologies by 48.9% in the third quarter. Archer Investment Corp now owns 131 shares of the company's stock valued at $31,000 after buying an additional 43 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company's stock.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of the business's stock in a transaction on Monday, November 4th. The stock was sold at an average price of $247.93, for a total value of $740,814.84. Following the completion of the transaction, the insider now directly owns 10,340 shares of the company's stock, valued at $2,563,596.20. The trade was a 22.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.82% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on LHX. Deutsche Bank Aktiengesellschaft lowered their price target on L3Harris Technologies from $252.00 to $250.00 and set a "hold" rating on the stock in a report on Thursday, October 3rd. Truist Financial lifted their target price on L3Harris Technologies from $293.00 to $300.00 and gave the company a "buy" rating in a research note on Monday, October 28th. Argus upgraded L3Harris Technologies from a "hold" rating to a "buy" rating and set a $300.00 price target for the company in a research note on Tuesday, November 26th. Bank of America upgraded shares of L3Harris Technologies from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $240.00 to $300.00 in a research report on Thursday, October 31st. Finally, Royal Bank of Canada boosted 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 note on Monday, October 28th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $269.13.

L3Harris Technologies Price Performance

Shares of NYSE:LHX traded down $1.19 during trading on Friday, hitting $223.16. 967,686 shares of the stock were exchanged, compared to its average volume of 911,348. L3Harris Technologies, Inc. has a 12-month low of $200.18 and a 12-month high of $265.74. The company has a market cap of $42.33 billion, a PE ratio of 35.25, a P/E/G ratio of 1.91 and a beta of 0.72. The company has a fifty day moving average price of $245.13 and a two-hundred day moving average price of $234.75. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its earnings results on Thursday, October 24th. The company reported $3.34 EPS for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $5.28 billion. During the same period in the previous year, the business earned $3.19 earnings per share. L3Harris Technologies's quarterly revenue was up 7.7% compared to the same quarter last year. On average, analysts forecast that L3Harris Technologies, Inc. will post 13.09 EPS for the current year.

L3Harris Technologies Dividend Announcement

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

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.