Stratos Investment Management LLC Increases Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Stratos Investment Management LLC increased its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 4.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,536 shares of the company’s stock after buying an additional 495 shares during the period. Stratos Investment Management LLC’s holdings in L3Harris Technologies were worth $2,506,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of LHX. Wealth Enhancement Advisory Services LLC lifted its position in shares of L3Harris Technologies by 17.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 43,838 shares of the company’s stock valued at $9,845,000 after buying an additional 6,634 shares during the last quarter. Edgestream Partners L.P. increased its stake in L3Harris Technologies by 151.6% during the 1st quarter. Edgestream Partners L.P. now owns 3,859 shares of the company’s stock valued at $822,000 after purchasing an additional 2,325 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in L3Harris Technologies by 35.1% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 35,953 shares of the company’s stock worth $7,661,000 after acquiring an additional 9,341 shares during the last quarter. &PARTNERS acquired a new stake in shares of L3Harris Technologies during the first quarter worth about $299,000. Finally, Mutual Advisors LLC boosted its holdings in shares of L3Harris Technologies by 88.7% in the 1st quarter. Mutual Advisors LLC now owns 8,576 shares of the company’s stock valued at $1,827,000 after acquiring an additional 4,031 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Morgan Stanley lowered shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $275.00 to $257.00 in a research report on Friday, August 9th. Citigroup raised their target price 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 upgraded L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target for the company in a research report on Thursday, October 10th. Truist Financial raised their price objective on L3Harris Technologies from $250.00 to $293.00 and gave the company a “buy” rating in a report on Friday. Finally, Wells Fargo & Company dropped their target price on shares of L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, L3Harris Technologies currently has an average rating of “Moderate Buy” and an average target price of $256.71.

L3Harris Technologies Stock Performance

Shares of LHX stock opened at $248.78 on Friday. L3Harris Technologies, Inc. has a 52 week low of $169.55 and a 52 week high of $249.16. The firm has a 50 day moving average of $235.12 and a two-hundred day moving average of $225.81. The company has a quick ratio of 0.74, a current ratio of 0.90 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $47.19 billion, a PE ratio of 40.39, a P/E/G ratio of 2.08 and a beta of 0.73.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, July 25th. The company reported $3.24 EPS for the quarter, topping the consensus estimate of $3.18 by $0.06. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The firm had revenue of $5.30 billion during the quarter, compared to analysts’ expectations of $5.30 billion. During the same period in the previous year, the firm posted $2.97 EPS. L3Harris Technologies’s revenue for the quarter was up 12.9% on a year-over-year basis. On average, research analysts predict that L3Harris Technologies, Inc. will post 13.06 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Monday, November 18th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

Insider Buying and Selling

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $244.68, for a total transaction of $731,103.84. Following the sale, the insider now owns 13,328 shares of the company’s stock, valued at approximately $3,261,095.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.82% of the stock is owned by company insiders.

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.