L3Harris Technologies Inc $LHX Stock Purchased by ProShare Advisors LLC

ProShare Advisors LLC grew its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 14.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 32,679 shares of the company’s stock after buying an additional 4,123 shares during the period. ProShare Advisors LLC’s holdings in L3Harris Technologies were worth $7,738,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of LHX. Concurrent Investment Advisors LLC grew its holdings in shares of L3Harris Technologies by 29.4% during the second quarter. Concurrent Investment Advisors LLC now owns 53,138 shares of the company’s stock valued at $15,441,000 after buying an additional 12,059 shares during the last quarter. Community Trust & Investment Co. increased its position in shares of L3Harris Technologies by 8.2% during the third quarter. Community Trust & Investment Co. now owns 63,777 shares of the company’s stock worth $15,101,000 after acquiring an additional 4,828 shares in the last quarter. Meeder Advisory Services Inc. acquired a new stake in shares of L3Harris Technologies in the 2nd quarter worth about $1,397,000. Swiss National Bank raised its holdings in shares of L3Harris Technologies by 7.1% in the 1st quarter. Swiss National Bank now owns 549,029 shares of the company’s stock worth $189,497,000 after acquiring an additional 36,320 shares during the last quarter. Finally, ASK Capital Investment Managers LLC bought a new position in L3Harris Technologies in the 3rd quarter valued at about $1,839,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on LHX. The Goldman Sachs Group cut their price target on L3Harris Technologies from $405.00 to $361.00 and set a “buy” rating for the company in a research note on Monday, October 12th. Argus downgraded L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Friday, September 25th. Jefferies Financial Group lowered L3Harris Technologies from a “buy” rating to a “hold” rating and set a $315.00 target price on the stock. in a report on Wednesday, August 26th. TD Cowen cut their target price on L3Harris Technologies from $370.00 to $280.00 and set a “buy” rating on the stock in a research report on Friday, October 9th. Finally, Guggenheim began coverage on L3Harris Technologies in a report on Monday, September 14th. They set a “buy” rating and a $365.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $345.60.

L3Harris Technologies Stock Down 6.5%

LHX opened at $259.61 on Thursday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.20 and a quick ratio of 1.05. The company’s 50-day moving average is $250.27 and its 200 day moving average is $304.02. L3Harris Technologies Inc has a fifty-two week low of $232.34 and a fifty-two week high of $379.23. The firm has a market capitalization of $48.34 billion, a P/E ratio of 24.22, a PEG ratio of 1.71 and a beta of 0.47.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results 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. L3Harris Technologies had a net margin of 8.76% and a return on equity of 11.49%. The business had revenue of $6.07 billion for the quarter, compared to analysts’ expectations of $5.92 billion. During the same period in the previous year, the company earned $2.70 earnings per share. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. Research analysts expect that L3Harris Technologies Inc will post 11.98 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, December 4th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, December 4th. This represents a $5.00 annualized dividend and a dividend yield of 1.9%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 46.64%.

L3Harris Technologies Company 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.