L3Harris Technologies Inc $LHX Shares Bought by NewEdge Wealth LLC

NewEdge Wealth LLC grew its holdings in L3Harris Technologies Inc (NYSE:LHX) by 43.1% in the third quarter, Holdings Channel reports. The institutional investor owned 8,525 shares of the company’s stock after acquiring an additional 2,568 shares during the quarter. NewEdge Wealth LLC’s holdings in L3Harris Technologies were worth $2,448,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Twin Peaks Wealth Advisors LLC purchased a new stake in L3Harris Technologies in the 2nd quarter worth $34,000. Salomon & Ludwin LLC acquired a new stake in shares of L3Harris Technologies in the third quarter valued at about $34,000. Rakuten Securities Inc. increased its stake in shares of L3Harris Technologies by 234.8% during the second quarter. Rakuten Securities Inc. now owns 154 shares of the company’s stock worth $39,000 after purchasing an additional 108 shares in the last quarter. Steigerwald Gordon & Koch Inc. purchased a new position in L3Harris Technologies in the 3rd quarter valued at about $42,000. Finally, Copia Wealth Management boosted its holdings in L3Harris Technologies by 1,842.9% in the 3rd quarter. Copia Wealth Management now owns 136 shares of the company’s stock worth $42,000 after buying an additional 129 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 other L3Harris Technologies news, insider Samir Mehta sold 4,840 shares of the firm’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $338.85, for a total transaction of $1,640,034.00. Following the completion of the sale, the insider owned 5,916 shares of the company’s stock, valued at $2,004,636.60. This trade represents a 45.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.72% of the stock is currently owned by company insiders.

L3Harris Technologies Price Performance

L3Harris Technologies stock opened at $355.84 on Friday. The company has a current ratio of 1.19, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. The company has a 50-day moving average price of $328.43 and a 200 day moving average price of $299.57. L3Harris Technologies Inc has a 12-month low of $195.72 and a 12-month high of $369.59. The stock has a market cap of $66.46 billion, a P/E ratio of 41.72, a PEG ratio of 2.57 and a beta of 0.64.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, beating the consensus estimate of $2.76 by $0.10. The company had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.76 billion. L3Harris Technologies had a net margin of 7.35% and a return on equity of 10.43%. L3Harris Technologies’s revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the business posted $3.47 EPS. Sell-side analysts anticipate that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be given a $1.25 dividend. The ex-dividend date is Friday, March 6th. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.20. This represents a $5.00 annualized dividend and a yield of 1.4%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 56.27%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on LHX shares. Morgan Stanley raised their target price on L3Harris Technologies from $367.00 to $390.00 and gave the company an “overweight” rating in a research report on Monday, February 2nd. Wall Street Zen lowered L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. TD Cowen reaffirmed a “buy” rating on shares of L3Harris Technologies in a report on Monday, January 5th. JPMorgan Chase & Co. raised their price target on shares of L3Harris Technologies from $340.00 to $395.00 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. Finally, Truist Financial set a $364.00 price objective on shares of L3Harris Technologies in a report on Wednesday, January 14th. Fifteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $328.57.

L3Harris Technologies Profile

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.