Stephens Investment Management Group LLC Raises Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Stephens Investment Management Group LLC grew its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 20.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,497 shares of the company’s stock after buying an additional 11,948 shares during the period. Stephens Investment Management Group LLC’s holdings in L3Harris Technologies were worth $17,007,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Meeder Asset Management Inc. grew its stake in L3Harris Technologies by 260.6% in the 2nd quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock worth $27,000 after buying an additional 86 shares in the last quarter. EntryPoint Capital LLC lifted its holdings 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 acquiring an additional 69 shares during the last quarter. Versant Capital Management Inc lifted its holdings in shares of L3Harris Technologies by 77.7% in the 2nd quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock worth $41,000 after acquiring an additional 80 shares during the last quarter. Family Firm Inc. bought a new stake in shares of L3Harris Technologies in the 2nd quarter worth approximately $45,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of L3Harris Technologies in the 2nd quarter worth approximately $57,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Transactions at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $244.68, for a total value of $731,103.84. Following the sale, the insider now directly owns 13,328 shares of the company’s stock, valued at $3,261,095.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.82% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. StockNews.com upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Citigroup boosted their price objective on shares of L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Bank of America upgraded shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and upped their price target for the company from $240.00 to $300.00 in a report on Thursday. Truist Financial upped their price target on shares of L3Harris Technologies from $293.00 to $300.00 and gave the company a “buy” rating in a report on Monday, October 28th. Finally, Barclays upped their price target on shares of L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, L3Harris Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $267.50.

L3Harris Technologies Stock Up 0.0 %

Shares of NYSE LHX opened at $247.51 on Friday. The firm has a fifty day simple moving average of $238.70 and a two-hundred day simple moving average of $228.68. The firm has a market capitalization of $46.95 billion, a PE ratio of 39.10, a price-to-earnings-growth ratio of 2.10 and a beta of 0.73. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58. L3Harris Technologies, Inc. has a 12 month low of $179.00 and a 12 month high of $258.89.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, topping analysts’ consensus estimates of $3.27 by $0.07. The firm had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.28 billion. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The company’s revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.19 EPS. Equities analysts expect that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be given a $1.16 dividend. 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%.

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.