1,053 Shares in L3Harris Technologies, Inc. (NYSE:LHX) Acquired by Independent Solutions Wealth Management LLC

Independent Solutions Wealth Management LLC purchased 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 & Exchange Commission. The firm purchased 1,053 shares of the company’s stock, valued at approximately $250,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Meeder Asset Management Inc. increased its position in L3Harris Technologies by 260.6% in the 2nd quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock worth $27,000 after buying an additional 86 shares during the period. Archer Investment Corp increased its position in L3Harris Technologies by 48.9% during the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after acquiring an additional 43 shares during the period. Kennebec Savings Bank bought a new stake in L3Harris Technologies in the 3rd quarter valued at $36,000. Family Firm Inc. acquired a new stake in L3Harris Technologies in the 2nd quarter worth $45,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of L3Harris Technologies during the 2nd quarter worth about $57,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of the company’s 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 of the company’s stock, valued at $2,563,596.20. This represents a 22.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders have sold 7,740 shares of company stock valued at $1,866,384. 0.82% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on LHX. StockNews.com raised L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Royal Bank of Canada raised their target price on L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a research report on Monday, October 28th. Wells Fargo & Company lowered their price target on shares of L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a report on Wednesday, December 11th. Truist Financial raised their price objective on shares of L3Harris Technologies from $293.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Finally, Wolfe Research raised shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price on the stock in a research note on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $269.13.

L3Harris Technologies Stock Down 1.3 %

Shares of NYSE LHX opened at $210.64 on Friday. L3Harris Technologies, Inc. has a 1 year low of $200.18 and a 1 year high of $265.74. The firm’s 50-day moving average is $243.07 and its 200-day moving average is $234.66. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $39.95 billion, a PE ratio of 33.28, a price-to-earnings-growth ratio of 1.91 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, October 24th. The company reported $3.34 EPS for the quarter, topping analysts’ consensus estimates of $3.27 by $0.07. The firm had revenue of $5.29 billion during 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 business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.19 EPS. Equities analysts expect that L3Harris Technologies, Inc. will post 13.09 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Monday, November 18th were paid a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend was Monday, November 18th. L3Harris Technologies’s payout ratio is 73.30%.

L3Harris Technologies Company 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.