L3Harris Technologies, Inc. (NYSE:LHX) Shares Acquired by First Commonwealth Financial Corp PA

First Commonwealth Financial Corp PA lifted its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 3.0% during the third quarter, Holdings Channel reports. The firm owned 2,857 shares of the company’s stock after acquiring an additional 84 shares during the quarter. First Commonwealth Financial Corp PA’s holdings in L3Harris Technologies were worth $680,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. OneDigital Investment Advisors LLC raised its holdings in L3Harris Technologies by 0.5% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 7,915 shares of the company’s stock valued at $1,883,000 after acquiring an additional 40 shares during the last quarter. Koshinski Asset Management Inc. grew its stake in shares of L3Harris Technologies by 2.7% during the 3rd quarter. Koshinski Asset Management Inc. now owns 1,620 shares of the company’s stock valued at $385,000 after buying an additional 42 shares during the period. RFG Advisory LLC grew its stake in shares of L3Harris Technologies by 3.1% during the 2nd quarter. RFG Advisory LLC now owns 1,416 shares of the company’s stock valued at $318,000 after buying an additional 43 shares during the period. Blossom Wealth Management grew its stake in shares of L3Harris Technologies by 1.7% during the 3rd quarter. Blossom Wealth Management now owns 2,538 shares of the company’s stock valued at $604,000 after buying an additional 43 shares during the period. Finally, Nicholas Hoffman & Company LLC. grew its stake in shares of L3Harris Technologies by 3.3% during the 3rd quarter. Nicholas Hoffman & Company LLC. now owns 1,353 shares of the company’s stock valued at $322,000 after buying an additional 43 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on LHX. StockNews.com raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. Royal Bank of Canada boosted their price objective on shares of L3Harris Technologies from $240.00 to $265.00 and gave the company a “sector perform” rating in a research note on Monday, October 28th. Wolfe Research raised shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective for the company in a research note on Thursday, October 10th. Wells Fargo & Company boosted their price objective 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. Finally, Bank of America raised shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and upped their price target for the stock from $240.00 to $300.00 in a research report on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $269.67.

Insider Activity

In related news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $236.68, for a total transaction of $707,199.84. Following the sale, the insider now owns 16,316 shares in the company, valued at $3,861,670.88. This represents a 15.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders have sold 8,964 shares of company stock worth $2,179,119. 0.87% of the stock is currently owned by corporate insiders.

L3Harris Technologies Stock Down 0.1 %

NYSE:LHX traded down $0.20 on Wednesday, reaching $245.38. The stock had a trading volume of 119,746 shares, compared to its average volume of 906,598. The stock has a market cap of $46.54 billion, a P/E ratio of 38.79, a price-to-earnings-growth ratio of 2.01 and a beta of 0.72. The company has a 50-day moving average of $245.35 and a 200 day moving average of $233.72. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58. L3Harris Technologies, Inc. has a 12-month low of $187.68 and a 12-month high of $265.74.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.27 by $0.07. The business had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.28 billion. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.19 EPS. On average, research analysts predict that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be paid a $1.16 dividend. The ex-dividend date is Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.89%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 73.30%.

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.