L3Harris Technologies, Inc. (NYSE:LHX) Shares Purchased by Wesbanco Bank Inc.

Wesbanco Bank Inc. raised its position in L3Harris Technologies, Inc. (NYSE:LHX) by 62.6% during the third quarter, HoldingsChannel reports. The firm owned 6,784 shares of the company’s stock after buying an additional 2,611 shares during the quarter. Wesbanco Bank Inc.’s holdings in L3Harris Technologies were worth $1,614,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of LHX. Wealth Enhancement Advisory Services LLC increased its holdings in L3Harris Technologies by 17.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 43,838 shares of the company’s stock valued at $9,845,000 after buying an additional 6,634 shares during the last quarter. Edgestream Partners L.P. boosted its position in shares of L3Harris Technologies by 151.6% during the 1st quarter. Edgestream Partners L.P. now owns 3,859 shares of the company’s stock worth $822,000 after acquiring an additional 2,325 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in shares of L3Harris Technologies by 35.1% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 35,953 shares of the company’s stock valued at $7,661,000 after acquiring an additional 9,341 shares during the last quarter. &PARTNERS acquired a new stake in shares of L3Harris Technologies during the 1st quarter worth about $299,000. Finally, Mutual Advisors LLC lifted its stake in L3Harris Technologies by 88.7% during the first quarter. Mutual Advisors LLC now owns 8,576 shares of the company’s stock worth $1,827,000 after purchasing an additional 4,031 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $245.30 on Wednesday. The stock has a fifty day moving average price of $233.93 and a 200 day moving average price of $225.21. L3Harris Technologies, Inc. has a 1-year low of $169.55 and a 1-year high of $249.00. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.90 and a quick ratio of 0.74. The company has a market cap of $46.53 billion, a PE ratio of 39.82, a P/E/G ratio of 2.08 and a beta of 0.73.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, July 25th. The company reported $3.24 EPS for the quarter, topping the consensus estimate of $3.18 by $0.06. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The company had revenue of $5.30 billion during the quarter, compared to analysts’ expectations of $5.30 billion. During the same quarter last year, the business earned $2.97 EPS. The business’s revenue was up 12.9% on a year-over-year basis. Sell-side analysts forecast that L3Harris Technologies, Inc. will post 13.06 EPS for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 1.89%. The ex-dividend date was Friday, September 6th. L3Harris Technologies’s payout ratio is 75.32%.

Insider Transactions at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $236.68, for a total value of $707,199.84. Following the sale, the insider now directly owns 16,316 shares in the company, valued at $3,861,670.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.82% of the company’s stock.

Wall Street Analysts Forecast Growth

LHX has been the topic of several recent analyst reports. Royal Bank of Canada cut shares of L3Harris Technologies from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from $250.00 to $240.00 in a report on Wednesday, August 14th. Susquehanna lifted their price target on shares of L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research note on Monday, July 29th. Barclays upped their price objective on shares of L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Wolfe Research raised L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective on the stock in a report on Thursday, October 10th. Finally, Morgan Stanley downgraded L3Harris Technologies from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $275.00 to $257.00 in a report on Friday, August 9th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $253.64.

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.