Concurrent Investment Advisors LLC Purchases 352 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Concurrent Investment Advisors LLC lifted its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 2.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 18,253 shares of the company’s stock after buying an additional 352 shares during the period. Concurrent Investment Advisors LLC’s holdings in L3Harris Technologies were worth $4,342,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in LHX. Jennison Associates LLC raised its position in L3Harris Technologies by 39.7% in the first quarter. Jennison Associates LLC now owns 2,354 shares of the company’s stock worth $502,000 after acquiring an additional 669 shares during the period. Central Pacific Bank Trust Division bought a new position in L3Harris Technologies in the 1st quarter worth $167,000. Manchester Capital Management LLC lifted its position in L3Harris Technologies by 73.3% during the first quarter. Manchester Capital Management LLC now owns 494 shares of the company’s stock valued at $105,000 after purchasing an additional 209 shares in the last quarter. Duality Advisers LP bought a new stake in L3Harris Technologies during the first quarter valued at about $2,820,000. Finally, Empirical Finance LLC increased its position in L3Harris Technologies by 3.4% in the first quarter. Empirical Finance LLC now owns 7,067 shares of the company’s stock worth $1,506,000 after buying an additional 232 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Up 2.2 %

NYSE LHX opened at $256.45 on Thursday. The stock has a 50 day moving average price of $239.97 and a 200-day moving average price of $229.89. L3Harris Technologies, Inc. has a one year low of $179.56 and a one year high of $260.00. The company has a market capitalization of $48.64 billion, a P/E ratio of 40.51, a P/E/G ratio of 2.06 and a beta of 0.72. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04.

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

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be given a dividend of $1.16 per share. The ex-dividend date is Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a yield of 1.81%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 73.30%.

Insider Activity

In other news, insider Ross Niebergall sold 2,988 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total transaction of $731,103.84. Following the transaction, the insider now owns 13,328 shares of the company’s stock, valued at approximately $3,261,095.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold 8,964 shares of company stock valued at $2,179,119 in the last ninety days. Insiders own 0.87% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on LHX. Royal Bank of Canada lifted their price objective on L3Harris Technologies from $240.00 to $265.00 and gave the company a “sector perform” rating in a research report on Monday, October 28th. StockNews.com upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Morgan Stanley downgraded shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $275.00 to $257.00 in a research report on Friday, August 9th. Wolfe Research raised shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price for the company in a report on Thursday, October 10th. Finally, Wells Fargo & Company raised their price target on 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 eleven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $267.50.

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.