Campbell Wealth Management Takes $235,000 Position in L3Harris Technologies, Inc. (NYSE:LHX)

Campbell Wealth Management purchased a new stake in L3Harris Technologies, Inc. (NYSE:LHX) in the 3rd quarter, Holdings Channel reports. The fund purchased 990 shares of the company’s stock, valued at approximately $235,000.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its stake in L3Harris Technologies by 12.9% in 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. Price T Rowe Associates Inc. MD increased its stake in L3Harris Technologies by 0.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,631,207 shares of the company’s stock valued at $2,052,411,000 after purchasing an additional 45,845 shares in the last quarter. Bank of New York Mellon Corp increased its stake in 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 valued at $712,858,000 after purchasing an additional 523,315 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in L3Harris Technologies by 1.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,039,832 shares of the company’s stock worth $485,215,000 after buying an additional 27,763 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. increased its position in L3Harris Technologies by 2.2% during the second quarter. Diamond Hill Capital Management Inc. now owns 1,489,129 shares of the company’s stock worth $334,429,000 after buying an additional 31,686 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

L3Harris Technologies Price Performance

Shares of L3Harris Technologies stock opened at $247.51 on Friday. L3Harris Technologies, Inc. has a twelve month low of $179.00 and a twelve month high of $258.89. The stock has a market capitalization of $46.94 billion, a P/E ratio of 39.10, a PEG ratio of 2.10 and a beta of 0.72. 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 business’s fifty day moving average price is $238.70 and its 200 day moving average price is $228.68.

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

L3Harris Technologies Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Citigroup raised their price target on L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Wells Fargo & Company raised their price target on L3Harris Technologies from $260.00 to $295.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Morgan Stanley downgraded L3Harris Technologies from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $275.00 to $257.00 in a research report on Friday, August 9th. StockNews.com raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Finally, Bank of America raised L3Harris Technologies from a “neutral” rating to a “buy” rating and raised their price target for the stock from $240.00 to $300.00 in a research report on Thursday. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $267.50.

Insiders Place Their Bets

In other news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies 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 directly owns 13,328 shares of the company’s stock, valued at approximately $3,261,095.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.82% of the stock is currently owned by insiders.

L3Harris Technologies 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.