Americana Partners LLC Acquires 1,070 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Americana Partners LLC raised its position in L3Harris Technologies, Inc. (NYSE:LHX) by 4.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,098 shares of the company’s stock after purchasing an additional 1,070 shares during the quarter. Americana Partners LLC’s holdings in L3Harris Technologies were worth $6,684,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of L3Harris Technologies by 12.9% during the 1st quarter. Vanguard Group Inc. now owns 22,792,779 shares of the company’s stock worth $4,857,141,000 after buying an additional 2,606,267 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of L3Harris Technologies by 0.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,631,207 shares of the company’s stock valued at $2,052,411,000 after purchasing an additional 45,845 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of L3Harris Technologies by 19.7% in the second quarter. Bank of New York Mellon Corp now owns 3,174,181 shares of the company’s stock valued at $712,858,000 after acquiring an additional 523,315 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of L3Harris Technologies by 1.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,039,832 shares of the company’s stock valued at $485,215,000 after purchasing an additional 27,763 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. grew its position in shares of L3Harris Technologies by 2.2% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 1,489,129 shares of the company’s stock valued at $334,429,000 after acquiring an additional 31,686 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on LHX. Bank of America upgraded shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $240.00 to $300.00 in a research note on Thursday. Morgan Stanley lowered shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $275.00 to $257.00 in a research note on Friday, August 9th. Wells Fargo & Company boosted their target price on L3Harris Technologies from $260.00 to $295.00 and gave the stock an “overweight” rating in a report on Monday. Truist Financial increased their price objective on shares of L3Harris Technologies from $293.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Royal Bank of Canada lifted their target price on L3Harris Technologies from $240.00 to $265.00 and gave the company a “sector perform” rating in a research note on Monday. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, L3Harris Technologies presently has an average rating of “Moderate Buy” and an average price target of $267.50.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $244.68, for a total transaction of $731,103.84. Following the sale, the insider now directly owns 13,328 shares of the company’s stock, valued at approximately $3,261,095.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.82% of the company’s stock.

L3Harris Technologies Stock Performance

Shares of LHX traded up $2.01 during mid-day trading on Friday, hitting $249.48. 250,591 shares of the company’s stock were exchanged, compared to its average volume of 908,809. 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 business’s 50 day moving average is $238.37 and its two-hundred day moving average is $228.37. L3Harris Technologies, Inc. has a fifty-two week low of $179.00 and a fifty-two week high of $258.89. The firm has a market capitalization of $47.32 billion, a P/E ratio of 39.36, a P/E/G ratio of 2.10 and a beta of 0.73.

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. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The company had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.28 billion. During the same period last year, the company posted $3.19 earnings per share. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, equities analysts expect that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend is Monday, November 18th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 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.