L3Harris Technologies, Inc. (NYSE:LHX) Stake Raised by Blossom Wealth Management

Blossom Wealth Management increased its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 1.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,538 shares of the company’s stock after buying an additional 43 shares during the quarter. L3Harris Technologies comprises 1.2% of Blossom Wealth Management’s portfolio, making the stock its 24th largest holding. Blossom Wealth Management’s holdings in L3Harris Technologies were worth $604,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Meeder Asset Management Inc. raised its holdings in L3Harris Technologies by 260.6% during the second quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock worth $27,000 after purchasing an additional 86 shares in the last quarter. EntryPoint Capital LLC raised its stake in shares of L3Harris Technologies by 70.4% in the 1st quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock worth $36,000 after buying an additional 69 shares in the last quarter. Versant Capital Management Inc boosted its stake in L3Harris Technologies by 77.7% during the second quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock valued at $41,000 after buying an additional 80 shares in the last quarter. Family Firm Inc. bought a new position in L3Harris Technologies during the second quarter valued at about $45,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in L3Harris Technologies during the second quarter worth about $57,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $236.68, for a total value of $707,199.84. Following the completion of the sale, the insider now owns 16,316 shares of the company’s stock, valued at approximately $3,861,670.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.82% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on LHX. Barclays increased their target price on shares of L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. 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. Wells Fargo & Company decreased their target price on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Susquehanna upped their target price on L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a report on Monday, July 29th. Finally, Royal Bank of Canada lowered L3Harris Technologies from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $250.00 to $240.00 in a research report on Wednesday, August 14th. Five 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, L3Harris Technologies has an average rating of “Moderate Buy” and a consensus target price of $256.71.

L3Harris Technologies Price Performance

Shares of NYSE:LHX opened at $244.93 on Wednesday. The business has a fifty day simple moving average of $235.84 and a 200 day simple moving average of $226.63. The company has a current ratio of 0.90, a quick ratio of 0.74 and a debt-to-equity ratio of 0.56. L3Harris Technologies, Inc. has a 1 year low of $169.55 and a 1 year high of $250.88. The firm has a market cap of $46.46 billion, a price-to-earnings ratio of 39.76, a P/E/G ratio of 2.08 and a beta of 0.73.

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

L3Harris Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be paid a dividend of $1.16 per share. The ex-dividend date is Monday, November 18th. This represents a $4.64 annualized dividend and a dividend yield of 1.89%. L3Harris Technologies’s dividend payout ratio (DPR) is 75.32%.

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.