Prime Capital Investment Advisors LLC Acquires 2,683 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Prime Capital Investment Advisors LLC raised its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 132.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,715 shares of the company’s stock after buying an additional 2,683 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in L3Harris Technologies were worth $1,122,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. First National Trust Co grew its holdings in shares of L3Harris Technologies by 0.6% during the third quarter. First National Trust Co now owns 27,084 shares of the company’s stock worth $6,442,000 after purchasing an additional 173 shares in the last quarter. Nations Financial Group Inc. IA ADV grew its stake in L3Harris Technologies by 17.8% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 9,892 shares of the company’s stock worth $2,353,000 after buying an additional 1,493 shares in the last quarter. Laffer Tengler Investments Inc. increased its holdings in shares of L3Harris Technologies by 2.3% in the 3rd quarter. Laffer Tengler Investments Inc. now owns 24,241 shares of the company’s stock worth $5,766,000 after buying an additional 544 shares during the last quarter. Buckingham Capital Management Inc. raised its position in shares of L3Harris Technologies by 0.6% during the 3rd quarter. Buckingham Capital Management Inc. now owns 10,041 shares of the company’s stock valued at $2,388,000 after buying an additional 63 shares in the last quarter. Finally, GDS Wealth Management lifted its holdings in shares of L3Harris Technologies by 4.5% during the 3rd quarter. GDS Wealth Management now owns 76,701 shares of the company’s stock worth $18,245,000 after acquiring an additional 3,275 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $244.68, for a total transaction of $731,103.84. Following the completion of the sale, the insider now directly owns 13,328 shares in the company, valued at approximately $3,261,095.04. This trade represents a 18.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 8,964 shares of company stock worth $2,179,119. 0.82% of the stock is owned by insiders.

L3Harris Technologies Price Performance

LHX opened at $248.16 on Friday. 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 market cap of $47.07 billion, a price-to-earnings ratio of 39.20, a price-to-earnings-growth ratio of 2.18 and a beta of 0.72. The stock has a fifty day simple moving average of $242.46 and a two-hundred day simple moving average of $231.69. L3Harris Technologies, Inc. has a 12-month low of $184.34 and a 12-month high of $265.74.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.27 by $0.07. The company had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.28 billion. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. L3Harris Technologies’s revenue was up 7.7% on a year-over-year basis. During the same period last year, the company posted $3.19 EPS. Research analysts predict that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend is Monday, November 18th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 73.30%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Barclays increased their target price on L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Morgan Stanley downgraded L3Harris Technologies from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $275.00 to $257.00 in a research report on Friday, August 9th. Susquehanna increased their price target on shares of L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research report on Monday, July 29th. Wolfe Research raised shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target on the stock in a research note on Thursday, October 10th. Finally, Royal Bank of Canada upped 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 analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $267.50.

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.