L3Harris Technologies Inc $LHX Shares Acquired by Private Advisory Group LLC

Private Advisory Group LLC increased its holdings in L3Harris Technologies Inc (NYSE:LHX) by 11.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,299 shares of the company’s stock after purchasing an additional 3,891 shares during the period. Private Advisory Group LLC’s holdings in L3Harris Technologies were worth $9,305,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of L3Harris Technologies in the second quarter worth about $5,525,806,000. State Street Corp increased its holdings in shares of L3Harris Technologies by 2.9% during the 2nd quarter. State Street Corp now owns 9,097,353 shares of the company’s stock valued at $2,643,600,000 after acquiring an additional 252,662 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of L3Harris Technologies by 7.1% during the 2nd quarter. Wellington Management Group LLP now owns 4,707,086 shares of the company’s stock valued at $1,367,832,000 after acquiring an additional 313,431 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in L3Harris Technologies in the 2nd quarter worth approximately $752,983,000. Finally, Bank of America Corp DE lifted its holdings in L3Harris Technologies by 22.3% in the 1st quarter. Bank of America Corp DE now owns 1,917,732 shares of the company’s stock worth $661,905,000 after purchasing an additional 350,313 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Trading Down 1.7%

L3Harris Technologies stock opened at $271.76 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.05 and a current ratio of 1.20. The business’s 50-day simple moving average is $251.00 and its 200-day simple moving average is $301.60. The firm has a market capitalization of $50.60 billion, a PE ratio of 25.35, a PEG ratio of 1.69 and a beta of 0.47. L3Harris Technologies Inc has a 52 week low of $232.34 and a 52 week high of $379.23.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, October 29th. The company reported $3.28 earnings per share for the quarter, beating the consensus estimate of $2.95 by $0.33. The firm had revenue of $6.07 billion during the quarter, compared to the consensus estimate of $5.92 billion. L3Harris Technologies had a return on equity of 11.49% and a net margin of 8.76%. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.70 EPS. Equities research analysts forecast that L3Harris Technologies Inc will post 12.10 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, December 4th will be issued a dividend of $1.25 per share. The ex-dividend date is Friday, December 4th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.8%. L3Harris Technologies’s payout ratio is 46.64%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on LHX. The Goldman Sachs Group decreased their target price on L3Harris Technologies from $405.00 to $361.00 and set a “buy” rating for the company in a research report on Monday, October 12th. Bank of America lifted their price target on shares of L3Harris Technologies from $325.00 to $375.00 and gave the company a “buy” rating in a research report on Tuesday, November 3rd. UBS Group boosted their price objective on shares of L3Harris Technologies from $264.00 to $293.00 and gave the stock a “neutral” rating in a research note on Friday, October 30th. Jefferies Financial Group cut shares of L3Harris Technologies from a “buy” rating to a “hold” rating and set a $315.00 price objective for the company. in a research note on Wednesday, August 26th. Finally, Deutsche Bank reaffirmed a “hold” rating on shares of L3Harris Technologies in a report on Tuesday, August 18th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, L3Harris Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $340.93.

L3Harris Technologies Profile

L3Harris Technologies is a defense and aerospace company that develops technology and systems for government and commercial customers. Its offerings include tactical communications, intelligence and surveillance systems, sensors, electronic warfare capabilities, space systems, and aviation technologies. The company also provides propulsion and related systems for defense and space applications through Aerojet Rocketdyne, which it acquired in 2023. Its products and services support missions including military communications, situational awareness, space operations, and national security.