DMC Group LLC Buys 120 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

DMC Group LLC lifted its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 4.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,749 shares of the company’s stock after acquiring an additional 120 shares during the quarter. DMC Group LLC’s holdings in L3Harris Technologies were worth $654,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in LHX. Cahaba Wealth Management Inc. acquired a new position in L3Harris Technologies in the 3rd quarter valued at $209,000. Raymond James & Associates boosted its holdings in L3Harris Technologies by 3.0% during the third quarter. Raymond James & Associates now owns 984,888 shares of the company’s stock valued at $234,275,000 after acquiring an additional 28,882 shares during the period. NovaPoint Capital LLC grew its position in shares of L3Harris Technologies by 4.6% in the third quarter. NovaPoint Capital LLC now owns 15,501 shares of the company’s stock valued at $3,687,000 after purchasing an additional 678 shares during the last quarter. Blue Trust Inc. increased its stake in shares of L3Harris Technologies by 96.7% in the third quarter. Blue Trust Inc. now owns 653 shares of the company’s stock worth $147,000 after purchasing an additional 321 shares during the period. Finally, Stratos Investment Management LLC lifted its position in shares of L3Harris Technologies by 4.9% during the 3rd quarter. Stratos Investment Management LLC now owns 10,536 shares of the company’s stock worth $2,506,000 after purchasing an additional 495 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Buying and Selling at L3Harris Technologies

In other 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 completion of 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 filing with the SEC, which is accessible through this link. Company insiders own 0.82% of the company’s stock.

Wall Street Analyst Weigh In

LHX has been the topic of a number of research analyst reports. Citigroup raised their target price on L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Susquehanna boosted their target price on shares of L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research report on Monday, July 29th. Royal Bank of Canada cut shares of L3Harris Technologies from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $250.00 to $240.00 in a research note on Wednesday, August 14th. Wolfe Research upgraded 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 report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, L3Harris Technologies has an average rating of “Moderate Buy” and an average price target of $256.71.

L3Harris Technologies Trading Up 0.2 %

LHX stock opened at $248.78 on Friday. L3Harris Technologies, Inc. has a 1-year low of $169.55 and a 1-year high of $249.16. The company has a current ratio of 0.90, a quick ratio of 0.74 and a debt-to-equity ratio of 0.56. The business’s 50 day moving average is $235.12 and its 200-day moving average is $225.96. The firm has a market cap of $47.19 billion, a P/E ratio of 40.39, a P/E/G ratio of 2.08 and a beta of 0.73.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, July 25th. The company reported $3.24 earnings per share 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 analysts’ expectations of $5.30 billion. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The business’s revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.97 earnings per share. Equities analysts anticipate that L3Harris Technologies, Inc. will post 13.06 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be issued a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 1.87%. The ex-dividend date is Monday, November 18th. L3Harris Technologies’s dividend payout ratio is currently 75.32%.

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.