L3Harris Technologies Inc $LHX Shares Newly Bought by Freemont Management S.A.

Freemont Management S.A. bought a new stake in L3Harris Technologies Inc (NYSE:LHX) during the third quarter, HoldingsChannel.com reports. The fund bought 40,000 shares of the company’s stock, valued at approximately $9,471,000. L3Harris Technologies comprises 9.1% of Freemont Management S.A.’s investment portfolio, making the stock its 3rd largest position.

Several other hedge funds have also recently added to or reduced their stakes in LHX. NBH Bank bought a new position in L3Harris Technologies during the second quarter worth about $26,000. Cedar Mountain Advisors LLC boosted its holdings in L3Harris Technologies by 1,233.3% during the first quarter. Cedar Mountain Advisors LLC now owns 80 shares of the company’s stock valued at $28,000 after purchasing an additional 74 shares in the last quarter. Elevation Wealth Partners LLC grew its stake in shares of L3Harris Technologies by 80.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 99 shares of the company’s stock valued at $29,000 after purchasing an additional 44 shares during the period. John Boyer Inc. bought a new stake in shares of L3Harris Technologies in the 3rd quarter valued at approximately $31,000. Finally, Bell Investment Advisors Inc bought a new stake in shares of L3Harris Technologies in the 2nd quarter valued at approximately $33,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Wall Street Zen raised L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Sunday, November 1st. UBS Group boosted their price target on L3Harris Technologies from $264.00 to $293.00 and gave the company a “neutral” rating in a research note on Friday, October 30th. Royal Bank Of Canada upped their price target on L3Harris Technologies from $265.00 to $295.00 and gave the company a “sector perform” rating in a research report on Friday, October 30th. Weiss Ratings cut L3Harris Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, September 10th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of L3Harris Technologies in a research note on Tuesday, August 18th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $345.60.

L3Harris Technologies Trading Down 0.3%

Shares of LHX stock opened at $258.88 on Friday. The company has a market capitalization of $48.20 billion, a P/E ratio of 24.15, a P/E/G ratio of 1.59 and a beta of 0.47. L3Harris Technologies Inc has a 12-month low of $232.34 and a 12-month high of $379.23. The company has a quick ratio of 1.05, a current ratio of 1.20 and a debt-to-equity ratio of 0.45. The firm has a 50-day moving average price of $250.19 and a 200 day moving average price of $303.58.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, October 29th. The company reported $3.28 earnings per share for the quarter, topping the consensus estimate of $2.95 by $0.33. The firm had revenue of $6.07 billion for the quarter, compared to analysts’ expectations of $5.92 billion. L3Harris Technologies had a net margin of 8.76% and a return on equity of 11.49%. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.70 earnings per share. Research analysts forecast that L3Harris Technologies Inc will post 12.04 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, December 4th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, December 4th. L3Harris Technologies’s payout ratio is presently 46.64%.

L3Harris Technologies Profile

L3Harris Technologies, Inc is a technology and defense company that develops products and systems for government and commercial customers. Its offerings support aerospace, defense, space, communications, intelligence, surveillance and reconnaissance, electronic warfare, missile defense, and aviation missions.

The company provides secure communications equipment, tactical radios, sensors, avionics, electronic warfare systems, missile and air defense technologies, space payloads and systems, and other mission-critical solutions.