CreativeOne Wealth LLC Acquires 762 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

CreativeOne Wealth LLC lifted its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 27.6% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 3,523 shares of the company’s stock after acquiring an additional 762 shares during the quarter. CreativeOne Wealth LLC’s holdings in L3Harris Technologies were worth $838,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Manning & Napier Advisors LLC bought a new position in shares of L3Harris Technologies during the second quarter valued at about $210,886,000. Envestnet Asset Management Inc. lifted its holdings in L3Harris Technologies by 236.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 989,340 shares of the company’s stock worth $222,186,000 after buying an additional 695,582 shares during the period. Bank of New York Mellon Corp lifted its holdings in L3Harris Technologies by 19.7% in the second quarter. Bank of New York Mellon Corp now owns 3,174,181 shares of the company’s stock worth $712,858,000 after buying an additional 523,315 shares during the period. The Manufacturers Life Insurance Company lifted its position in L3Harris Technologies by 65.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 434,287 shares of the company’s stock valued at $97,532,000 after acquiring an additional 171,420 shares during the period. Finally, International Assets Investment Management LLC lifted its holdings in shares of L3Harris Technologies by 23,627.0% during the third quarter. International Assets Investment Management LLC now owns 170,597 shares of the company’s stock valued at $40,580,000 after purchasing an additional 169,878 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Transactions at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $247.93, for a total transaction of $740,814.84. Following the completion of the transaction, the insider now owns 10,340 shares of the company’s stock, valued at approximately $2,563,596.20. This represents a 22.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold 8,964 shares of company stock valued at $2,179,119 in the last 90 days. 0.82% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on LHX shares. Citigroup increased their target price on L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. Morgan Stanley downgraded shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $275.00 to $257.00 in a report on Friday, August 9th. Wolfe Research upgraded shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target on the stock in a research note on Thursday, October 10th. Finally, Wells Fargo & Company increased 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. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $269.67.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock opened at $246.25 on Friday. L3Harris Technologies, Inc. has a 52 week low of $188.95 and a 52 week high of $265.74. The firm has a market capitalization of $46.71 billion, a P/E ratio of 38.90, a P/E/G ratio of 2.05 and a beta of 0.72. 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 firm’s 50 day moving average is $246.22 and its two-hundred day moving average is $234.15.

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

L3Harris Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be issued a $1.16 dividend. The ex-dividend date is Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a yield of 1.88%. L3Harris Technologies’s dividend payout ratio (DPR) 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.