Whitener Capital Management Inc. Has $484,000 Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Whitener Capital Management Inc. raised its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 18.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,035 shares of the company’s stock after purchasing an additional 320 shares during the quarter. Whitener Capital Management Inc.’s holdings in L3Harris Technologies were worth $484,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Confluence Wealth Services Inc. lifted its holdings in shares of L3Harris Technologies by 1.1% during the third quarter. Confluence Wealth Services Inc. now owns 5,611 shares of the company’s stock worth $1,335,000 after buying an additional 59 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of L3Harris Technologies during the third quarter worth $35,904,000. Pure Financial Advisors LLC lifted its holdings in shares of L3Harris Technologies by 16.9% during the third quarter. Pure Financial Advisors LLC now owns 1,407 shares of the company’s stock worth $335,000 after buying an additional 203 shares in the last quarter. Argonautica Private Wealth Management Inc. lifted its holdings in shares of L3Harris Technologies by 1.4% during the third quarter. Argonautica Private Wealth Management Inc. now owns 10,235 shares of the company’s stock worth $2,435,000 after buying an additional 142 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in shares of L3Harris Technologies by 7.3% during the third quarter. Farther Finance Advisors LLC now owns 2,646 shares of the company’s stock worth $629,000 after buying an additional 179 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Activity

In other news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total value of $731,103.84. Following the completion of the transaction, the insider now owns 13,328 shares of the company’s stock, valued at $3,261,095.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.82% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on LHX. Morgan Stanley downgraded L3Harris Technologies from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $275.00 to $257.00 in a report on Friday, August 9th. Bank of America upgraded 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. Truist Financial boosted their price target on L3Harris Technologies from $293.00 to $300.00 and gave the company a “buy” rating in a research note on Monday, October 28th. StockNews.com raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. Finally, Wells Fargo & Company boosted their price target on L3Harris Technologies from $260.00 to $295.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $267.50.

L3Harris Technologies Stock Up 0.0 %

Shares of NYSE LHX opened at $247.48 on Friday. 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 company has a market cap of $46.94 billion, a price-to-earnings ratio of 39.10, a PEG ratio of 2.12 and a beta of 0.72. L3Harris Technologies, Inc. has a 12 month low of $179.00 and a 12 month high of $258.89. The stock has a 50-day moving average price of $238.70 and a two-hundred day moving average price of $228.88.

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

L3Harris Technologies Dividend Announcement

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