Rheos Capital Works Inc. Grows Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Rheos Capital Works Inc. raised its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 12.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 66,700 shares of the company’s stock after buying an additional 7,500 shares during the quarter. Rheos Capital Works Inc.’s holdings in L3Harris Technologies were worth $15,866,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Wolff Wiese Magana LLC grew its position in L3Harris Technologies by 16.6% in the third quarter. Wolff Wiese Magana LLC now owns 640 shares of the company’s stock worth $152,000 after acquiring an additional 91 shares in the last quarter. Brady Family Wealth LLC boosted its holdings in shares of L3Harris Technologies by 11.7% in the 3rd quarter. Brady Family Wealth LLC now owns 3,244 shares of the company’s stock worth $772,000 after purchasing an additional 340 shares during the period. Trust Co. of Oklahoma boosted its holdings in shares of L3Harris Technologies by 59.8% in the 3rd quarter. Trust Co. of Oklahoma now owns 4,883 shares of the company’s stock worth $1,162,000 after purchasing an additional 1,827 shares during the period. Iams Wealth Management LLC increased its position in shares of L3Harris Technologies by 2.2% during the 3rd quarter. Iams Wealth Management LLC now owns 9,098 shares of the company’s stock valued at $2,164,000 after purchasing an additional 197 shares during the last quarter. Finally, Creative Planning raised its holdings in L3Harris Technologies by 1.2% during the 3rd quarter. Creative Planning now owns 41,588 shares of the company’s stock valued at $9,893,000 after buying an additional 512 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on LHX. Barclays boosted their price objective on shares of L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft cut their price target on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Morgan Stanley downgraded shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $275.00 to $257.00 in a research note on Friday, August 9th. Wells Fargo & Company cut their target price on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Finally, Citigroup raised their price target on L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $253.64.

L3Harris Technologies Stock Up 1.2 %

NYSE:LHX opened at $248.19 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.90 and a quick ratio of 0.74. L3Harris Technologies, Inc. has a 1-year low of $169.55 and a 1-year high of $249.00. The company has a 50-day moving average of $234.35 and a 200 day moving average of $225.37. The firm has a market cap of $47.08 billion, a PE ratio of 40.29, a price-to-earnings-growth ratio of 2.08 and a beta of 0.73.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, July 25th. The company reported $3.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.18 by $0.06. The firm had revenue of $5.30 billion for the quarter, compared to the consensus estimate of $5.30 billion. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The company’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period last year, the firm earned $2.97 earnings per share. As a group, research analysts anticipate that L3Harris Technologies, Inc. will post 13.06 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be issued a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.87%. L3Harris Technologies’s dividend payout ratio is presently 75.32%.

Insider Transactions at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was 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 $3,261,095.04. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.82% of the company’s stock.

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.