World Investment Advisors LLC Acquires 22,407 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

World Investment Advisors LLC boosted its stake in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 220.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,580 shares of the company's stock after buying an additional 22,407 shares during the period. World Investment Advisors LLC's holdings in L3Harris Technologies were worth $7,750,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. boosted its position in L3Harris Technologies by 236.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 989,340 shares of the company's stock worth $222,186,000 after acquiring an additional 695,582 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of L3Harris Technologies by 19.7% in 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. The Manufacturers Life Insurance Company boosted its holdings in shares of L3Harris Technologies by 65.2% in the second quarter. The Manufacturers Life Insurance Company now owns 434,287 shares of the company's stock valued at $97,532,000 after acquiring an additional 171,420 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of L3Harris Technologies by 23,627.0% during the third quarter. International Assets Investment Management LLC now owns 170,597 shares of the company's stock valued at $40,580,000 after acquiring an additional 169,878 shares during the period. Finally, Mizuho Markets Americas LLC lifted its position in L3Harris Technologies by 25.3% in the third quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company's stock worth $195,704,000 after purchasing an additional 166,262 shares during the period. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Stock Down 0.5 %

NYSE:LHX traded down $1.09 during trading hours on Friday, hitting $223.26. 340,054 shares of the stock traded hands, compared to its average volume of 908,652. The firm has a 50 day moving average price of $245.54 and a 200 day moving average price of $234.75. The firm has a market cap of $42.35 billion, a price-to-earnings ratio of 35.33, a PEG ratio of 1.91 and a beta of 0.72. L3Harris Technologies, Inc. has a fifty-two week low of $200.18 and a fifty-two week 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.

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 for the quarter, beating analysts' consensus estimates of $3.27 by $0.07. The business had revenue of $5.29 billion for 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%. L3Harris Technologies's revenue for the quarter 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. Equities research analysts anticipate that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current year.

L3Harris Technologies Announces Dividend

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

Insider Buying and Selling

In other news, insider Ross Niebergall sold 2,988 shares of the company's stock in a transaction on Monday, November 4th. The shares were sold at an average price of $247.93, for a total value of $740,814.84. Following the transaction, the insider now directly owns 10,340 shares of the company's stock, valued at approximately $2,563,596.20. This represents a 22.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.82% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Citigroup lifted their price target on L3Harris Technologies from $268.00 to $291.00 and gave the company a "buy" rating in a research report on Thursday, October 10th. Wolfe Research raised L3Harris Technologies from a "peer perform" rating to an "outperform" rating and set a $300.00 target price on the stock in a report on Thursday, October 10th. Wells Fargo & Company dropped their price target on shares of L3Harris Technologies from $295.00 to $287.00 and set an "overweight" rating on the stock in a research report on Wednesday. Deutsche Bank Aktiengesellschaft reduced 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 report on Thursday, October 3rd. Finally, Bank of America upgraded shares of L3Harris Technologies from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $240.00 to $300.00 in a report on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $269.13.

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.