Zacks Investment Management Raises Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Zacks Investment Management boosted its holdings in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 17.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 184,956 shares of the company's stock after acquiring an additional 27,990 shares during the quarter. Zacks Investment Management owned about 0.10% of L3Harris Technologies worth $43,995,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of LHX. Meeder Asset Management Inc. increased its holdings in shares of L3Harris Technologies by 260.6% in the 2nd quarter. Meeder Asset Management Inc. now owns 119 shares of the company's stock valued at $27,000 after purchasing an additional 86 shares in the last quarter. Archer Investment Corp increased its holdings in 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 in the last quarter. Kennebec Savings Bank acquired a new stake in shares of L3Harris Technologies during the 3rd quarter valued at approximately $36,000. Family Firm Inc. purchased a new stake in shares of L3Harris Technologies during the 2nd quarter worth approximately $45,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of L3Harris Technologies in the 2nd quarter worth approximately $57,000. Hedge funds and other institutional investors own 84.76% of the company's stock.

Insider Transactions at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of the 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 completion of the sale, the insider now owns 10,340 shares of the company's stock, valued at $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 Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.82% of the company's stock.

Wall Street Analysts Forecast Growth

LHX has been the subject of several research reports. Wells Fargo & Company lifted their price objective on L3Harris Technologies from $260.00 to $295.00 and gave the stock an "overweight" rating in a report on Monday, October 28th. Bank of America upgraded shares of L3Harris Technologies from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $240.00 to $300.00 in a research report on Thursday, October 31st. Truist Financial raised their target price on shares of L3Harris Technologies from $293.00 to $300.00 and gave the company a "buy" rating in a report on Monday, October 28th. Citigroup upped their price target 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. Finally, StockNews.com raised shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a research note on Monday, October 28th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $269.67.

L3Harris Technologies Trading Down 1.5 %

Shares of NYSE LHX traded down $3.50 on Friday, reaching $234.64. 1,470,153 shares of the company traded hands, compared to its average volume of 824,430. The stock has a market capitalization of $44.50 billion, a PE ratio of 37.06, a P/E/G ratio of 2.01 and a beta of 0.72. L3Harris Technologies, Inc. has a fifty-two week low of $193.34 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. The company has a 50 day moving average of $246.70 and a 200 day moving average of $234.56.

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

L3Harris Technologies Dividend Announcement

The company also recently declared 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 1.98%. The ex-dividend date was Monday, November 18th. L3Harris Technologies's dividend payout ratio (DPR) is presently 73.30%.

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.