Wolff Wiese Magana LLC Purchases 91 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Wolff Wiese Magana LLC increased its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 16.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 640 shares of the company’s stock after buying an additional 91 shares during the quarter. Wolff Wiese Magana LLC’s holdings in L3Harris Technologies were worth $152,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Syon Capital LLC acquired a new stake in L3Harris Technologies in the 4th quarter valued at $232,000. HighPoint Advisor Group LLC bought a new stake in shares of L3Harris Technologies during the fourth quarter worth about $775,000. NBC Securities Inc. raised its holdings in shares of L3Harris Technologies by 33.5% in the 1st quarter. NBC Securities Inc. now owns 566 shares of the company’s stock worth $121,000 after acquiring an additional 142 shares during the last quarter. GAMMA Investing LLC lifted its position in L3Harris Technologies by 7.6% in the 1st quarter. GAMMA Investing LLC now owns 929 shares of the company’s stock valued at $198,000 after acquiring an additional 66 shares in the last quarter. Finally, Mather Group LLC. bought a new position in L3Harris Technologies in the 1st quarter valued at about $123,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on LHX. Citigroup increased their price objective on L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Wells Fargo & Company lowered their price target on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Susquehanna lifted their price objective on shares of L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a report on Monday, July 29th. Royal Bank of Canada downgraded shares of L3Harris Technologies from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from $250.00 to $240.00 in a report on Wednesday, August 14th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $253.64.

Insiders Place Their Bets

In other news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction 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 approximately $3,261,095.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.82% of the company’s stock.

L3Harris Technologies Stock Performance

Shares of LHX opened at $248.19 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.90 and a quick ratio of 0.74. The firm has a market cap of $47.08 billion, a PE ratio of 40.29, a PEG ratio of 2.08 and a beta of 0.73. L3Harris Technologies, Inc. has a 1 year low of $169.55 and a 1 year high of $249.00. The stock’s fifty day moving average price is $234.35 and its two-hundred day moving average price is $225.37.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, July 25th. The company reported $3.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.18 by $0.06. The business had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.30 billion. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The firm’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the previous year, the business posted $2.97 EPS. On average, equities research analysts forecast that L3Harris Technologies, Inc. will post 13.06 EPS for the current 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 dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 1.87%. L3Harris Technologies’s payout ratio is 75.32%.

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.