Commonwealth Retirement Investments LLC Purchases 139 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Commonwealth Retirement Investments LLC lifted its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 2.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,125 shares of the company’s stock after acquiring an additional 139 shares during the quarter. Commonwealth Retirement Investments LLC’s holdings in L3Harris Technologies were worth $1,695,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Empowered Funds LLC boosted its holdings in shares of L3Harris Technologies by 201.4% during the first quarter. Empowered Funds LLC now owns 10,404 shares of the company’s stock worth $2,217,000 after acquiring an additional 6,952 shares during the period. Sei Investments Co. grew its holdings in L3Harris Technologies by 1.8% in the 1st quarter. Sei Investments Co. now owns 171,514 shares of the company’s stock valued at $36,550,000 after buying an additional 3,099 shares in the last quarter. QRG Capital Management Inc. lifted its holdings in shares of L3Harris Technologies by 6.3% during the first quarter. QRG Capital Management Inc. now owns 2,431 shares of the company’s stock worth $518,000 after buying an additional 145 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of L3Harris Technologies in the first quarter valued at about $228,000. Finally, State Board of Administration of Florida Retirement System increased its position in L3Harris Technologies by 9.5% during the first quarter. State Board of Administration of Florida Retirement System now owns 215,262 shares of the company’s stock worth $42,243,000 after acquiring an additional 18,631 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on LHX shares. Susquehanna raised their price objective on L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research note on Monday, July 29th. Citigroup upped their price target 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 raised shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and increased their target price for the stock from $240.00 to $300.00 in a report on Thursday, October 31st. Wells Fargo & Company lifted their price target on shares of L3Harris Technologies from $260.00 to $295.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $267.50.

L3Harris Technologies Price Performance

Shares of LHX stock traded down $0.07 during trading on Tuesday, hitting $264.15. The company had a trading volume of 82,486 shares, compared to its average volume of 903,390. L3Harris Technologies, Inc. has a 52 week low of $182.01 and a 52 week high of $265.74. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $50.10 billion, a price-to-earnings ratio of 41.75, a price-to-earnings-growth ratio of 2.17 and a beta of 0.72. The stock’s 50-day moving average is $241.43 and its two-hundred day moving average is $231.15.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.27 by $0.07. The business had revenue of $5.29 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the business posted $3.19 earnings per share. As a group, analysts predict that L3Harris Technologies, Inc. will post 13.09 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

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 paid a $1.16 dividend. The ex-dividend date is Monday, November 18th. This represents a $4.64 annualized dividend and a yield of 1.76%. L3Harris Technologies’s payout ratio is 73.30%.

Insiders Place Their Bets

In related 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 sale, the insider now owns 13,328 shares in the company, valued at $3,261,095.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last 90 days, insiders sold 8,964 shares of company stock worth $2,179,119. 0.82% of the stock is owned by corporate insiders.

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.