Second Half Financial Partners LLC Makes New $3.08 Million Investment in L3Harris Technologies, Inc. (NYSE:LHX)

Second Half Financial Partners LLC bought a new stake in L3Harris Technologies, Inc. (NYSE:LHX) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,931 shares of the company’s stock, valued at approximately $3,076,000. L3Harris Technologies comprises about 1.6% of Second Half Financial Partners LLC’s portfolio, making the stock its 20th biggest position.

Several other hedge funds have also recently added to or reduced their stakes in LHX. KCM Investment Advisors LLC grew its holdings in shares of L3Harris Technologies by 43.8% during the 3rd quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company’s stock valued at $4,584,000 after purchasing an additional 5,868 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position 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 purchasing an additional 6,634 shares during the last quarter. Edgestream Partners L.P. boosted its stake in shares of L3Harris Technologies by 151.6% during the first quarter. Edgestream Partners L.P. now owns 3,859 shares of the company’s stock valued at $822,000 after purchasing an additional 2,325 shares during the period. Creative Planning grew its holdings in shares of L3Harris Technologies by 1.2% in the third quarter. Creative Planning now owns 41,588 shares of the company’s stock worth $9,893,000 after purchasing an additional 512 shares during the last quarter. Finally, Manning & Napier Advisors LLC purchased a new position in shares of L3Harris Technologies in the second quarter worth $210,886,000. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

Shares of NYSE:LHX opened at $244.30 on Tuesday. The business has a fifty day moving average price of $243.46 and a 200-day moving average price of $232.52. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87. The company has a market capitalization of $46.34 billion, a PE ratio of 38.59, a PEG ratio of 2.06 and a beta of 0.72. L3Harris Technologies, Inc. has a 1-year low of $184.34 and a 1-year high of $265.74.

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

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be issued a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend is Monday, November 18th. L3Harris Technologies’s payout ratio is 73.30%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Wolfe Research raised shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target for the company in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft dropped their price target on L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a research note on Thursday, October 3rd. Citigroup boosted their price objective on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Morgan Stanley lowered shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $275.00 to $257.00 in a report on Friday, August 9th. Finally, Wells Fargo & Company lifted their target price on shares of L3Harris Technologies from $260.00 to $295.00 and gave the company an “overweight” rating in a research note 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $267.50.

Insider Transactions at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $247.93, for a total value of $740,814.84. Following the completion of the sale, the insider now directly owns 10,340 shares in the company, valued at approximately $2,563,596.20. This trade represents a 22.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 8,964 shares of company stock worth $2,179,119 over the last quarter. 0.87% of the stock is currently owned by insiders.

About L3Harris Technologies

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.