L3Harris Technologies, Inc. (NYSE:LHX) Shares Purchased by Brady Family Wealth LLC

Brady Family Wealth LLC raised its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 11.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,244 shares of the company’s stock after purchasing an additional 340 shares during the quarter. Brady Family Wealth LLC’s holdings in L3Harris Technologies were worth $772,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of LHX. Vanguard Group Inc. grew its stake in L3Harris Technologies by 12.9% during the 1st quarter. Vanguard Group Inc. now owns 22,792,779 shares of the company’s stock valued at $4,857,141,000 after purchasing an additional 2,606,267 shares in the last quarter. Manning & Napier Advisors LLC acquired a new position in shares of L3Harris Technologies in the 2nd quarter worth approximately $210,886,000. Envestnet Asset Management Inc. grew its position in shares of L3Harris Technologies by 236.8% in 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 in the last quarter. Bank of New York Mellon Corp grew its position 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 in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of L3Harris Technologies by 65.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 434,287 shares of the company’s stock worth $97,532,000 after acquiring an additional 171,420 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Stock Down 1.2 %

LHX opened at $245.30 on Wednesday. L3Harris Technologies, Inc. has a one year low of $169.55 and a one year high of $249.00. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.74 and a current ratio of 0.90. The stock’s fifty day moving average is $233.93 and its 200-day moving average is $225.21. The company has a market capitalization of $46.53 billion, a PE ratio of 39.82, a P/E/G ratio of 2.08 and a beta of 0.73.

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

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend was Friday, September 6th. L3Harris Technologies’s dividend payout ratio is presently 75.32%.

Wall Street Analysts Forecast Growth

LHX has been the subject of several research reports. Wells Fargo & Company decreased their target price on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft decreased their target price on L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Susquehanna boosted their price objective on L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research report on Monday, July 29th. Citigroup boosted their price objective on L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, Wolfe Research upgraded L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective for the company in a research report on Thursday, October 10th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, L3Harris Technologies has an average rating of “Moderate Buy” and a consensus price target of $253.64.

Insider Transactions at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total value of $731,103.84. Following the transaction, the insider now directly owns 13,328 shares in the company, valued at $3,261,095.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.82% of the company’s stock.

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.