Financial Counselors Inc. Makes New $214,000 Investment in L3Harris Technologies, Inc. (NYSE:LHX)

Financial Counselors Inc. bought a new position in shares of L3Harris Technologies, Inc. (NYSE:LHX) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 899 shares of the company’s stock, valued at approximately $214,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cetera Investment Advisers increased its stake in shares of L3Harris Technologies by 236.3% in the 1st quarter. Cetera Investment Advisers now owns 63,530 shares of the company’s stock worth $13,538,000 after acquiring an additional 44,641 shares in the last quarter. Transcend Capital Advisors LLC grew its holdings in L3Harris Technologies by 86.7% in the second quarter. Transcend Capital Advisors LLC now owns 2,742 shares of the company’s stock worth $616,000 after purchasing an additional 1,273 shares during the period. GAMMA Investing LLC increased its stake in shares of L3Harris Technologies by 57.4% during the second quarter. GAMMA Investing LLC now owns 1,462 shares of the company’s stock valued at $328,000 after purchasing an additional 533 shares in the last quarter. Versant Capital Management Inc raised its stake in L3Harris Technologies by 77.7% during the second quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock valued at $41,000 after buying an additional 80 shares during the last quarter. Finally, Douglas Lane & Associates LLC bought a new stake in L3Harris Technologies in the second quarter worth $202,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the company’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 value of $731,103.84. Following the completion of the transaction, the insider now directly owns 13,328 shares in the company, valued at $3,261,095.04. This represents a 18.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold a total of 8,964 shares of company stock valued at $2,179,119 over the last 90 days. Company insiders own 0.82% of the company’s stock.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $246.25 on Monday. L3Harris Technologies, Inc. has a 52-week low of $188.95 and a 52-week high of $265.74. The firm has a market capitalization of $46.71 billion, a PE ratio of 38.90, a P/E/G ratio of 2.05 and a beta of 0.72. The stock has a 50-day simple moving average of $246.22 and a two-hundred day simple moving average of $234.23. 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 announced its quarterly earnings data on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.28 billion. During the same period in the prior year, the company posted $3.19 earnings per share. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. Analysts forecast that L3Harris Technologies, Inc. will post 13.1 EPS for the current year.

L3Harris Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be given a $1.16 dividend. The ex-dividend date is Monday, November 18th. This represents a $4.64 annualized dividend and a dividend yield of 1.88%. L3Harris Technologies’s payout ratio is 73.30%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on LHX. Bank of America raised L3Harris Technologies from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $240.00 to $300.00 in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft lowered their price objective on L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a research report on Thursday, October 3rd. Argus upgraded L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price target for the company in a research note on Tuesday, November 26th. Royal Bank of Canada lifted their price objective on L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. Finally, Citigroup upped their target price on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $269.67.

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.