Commonwealth Retirement Investments LLC Has $1.70 Million Position in L3Harris Technologies, Inc. (NYSE:LHX)

Commonwealth Retirement Investments LLC raised its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 2.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,125 shares of the company’s stock after purchasing an additional 139 shares during the period. Commonwealth Retirement Investments LLC’s holdings in L3Harris Technologies were worth $1,695,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Empowered Funds LLC boosted its holdings in L3Harris Technologies by 201.4% during the first quarter. Empowered Funds LLC now owns 10,404 shares of the company’s stock valued at $2,217,000 after acquiring an additional 6,952 shares during the period. Sei Investments Co. raised its position in shares of L3Harris Technologies by 1.8% during the first quarter. Sei Investments Co. now owns 171,514 shares of the company’s stock valued at $36,550,000 after buying an additional 3,099 shares during the last quarter. QRG Capital Management Inc. grew its position in L3Harris Technologies by 6.3% during the first quarter. QRG Capital Management Inc. now owns 2,431 shares of the company’s stock worth $518,000 after buying an additional 145 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in L3Harris Technologies during the first quarter valued at about $228,000. Finally, State Board of Administration of Florida Retirement System lifted its position in shares of L3Harris Technologies by 9.5% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 215,262 shares of the company’s stock worth $42,243,000 after acquiring an additional 18,631 shares during the period. Institutional investors own 84.76% of the company’s stock.

Insider Activity at L3Harris Technologies

In other 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 completion of the sale, the insider now owns 13,328 shares of the company’s stock, valued at $3,261,095.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders sold 8,964 shares of company stock worth $2,179,119. 0.82% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Wolfe Research upgraded L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective on the stock in a research report on Thursday, October 10th. Susquehanna lifted their target price on shares of L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research report on Monday, July 29th. Morgan Stanley lowered shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $275.00 to $257.00 in a research report on Friday, August 9th. Royal Bank of Canada lifted their price objective on L3Harris Technologies from $240.00 to $265.00 and gave the company a “sector perform” rating in a report on Monday, October 28th. Finally, Barclays raised their target price on L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, L3Harris Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $267.50.

L3Harris Technologies Trading Down 0.0 %

LHX stock traded down $0.07 during midday trading on Tuesday, reaching $264.15. The stock had a trading volume of 82,486 shares, compared to its average volume of 903,390. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. L3Harris Technologies, Inc. has a twelve month low of $182.01 and a twelve month high of $265.74. The firm has a market cap of $50.10 billion, a price-to-earnings ratio of 41.75, a PEG ratio of 2.17 and a beta of 0.72. The business has a fifty day simple moving average of $241.43 and a two-hundred day simple moving average of $231.15.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.27 by $0.07. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The company had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.28 billion. During the same period in the previous year, the company earned $3.19 EPS. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, research analysts expect that L3Harris Technologies, Inc. will post 13.09 EPS for the current fiscal 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 issued a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 1.76%. 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.