MML Investors Services LLC Purchases 3,238 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

MML Investors Services LLC raised its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 8.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 41,163 shares of the company’s stock after purchasing an additional 3,238 shares during the quarter. MML Investors Services LLC’s holdings in L3Harris Technologies were worth $9,791,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. KCM Investment Advisors LLC raised its holdings in L3Harris Technologies by 43.8% during the 3rd quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company’s stock valued at $4,584,000 after acquiring an additional 5,868 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of L3Harris Technologies by 17.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 43,838 shares of the company’s stock valued at $9,845,000 after acquiring an additional 6,634 shares during the period. Creative Planning grew its stake in L3Harris Technologies by 1.2% during the third quarter. Creative Planning now owns 41,588 shares of the company’s stock valued at $9,893,000 after acquiring an additional 512 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in L3Harris Technologies during the 3rd quarter worth approximately $35,904,000. Finally, AdvisorNet Financial Inc boosted its holdings in L3Harris Technologies by 700.2% in the 2nd quarter. AdvisorNet Financial Inc now owns 3,353 shares of the company’s stock valued at $753,000 after purchasing an additional 2,934 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Performance

LHX stock opened at $230.51 on Wednesday. The stock’s 50 day simple moving average is $246.53 and its 200 day simple moving average is $234.82. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58. L3Harris Technologies, Inc. has a 12-month low of $196.42 and a 12-month high of $265.74. The stock has a market capitalization of $43.72 billion, a PE ratio of 36.42, a price-to-earnings-growth ratio of 1.96 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last announced its quarterly 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 return on equity of 13.11% and a net margin of 5.71%. The firm had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.28 billion. During the same period in the prior year, the company posted $3.19 earnings per share. The company’s quarterly revenue was up 7.7% on a year-over-year basis. As a group, research analysts forecast that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Monday, November 18th were paid a $1.16 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.01%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 73.30%.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $247.93, for a total transaction of $740,814.84. Following the transaction, the insider now owns 10,340 shares of the company’s stock, valued at $2,563,596.20. The trade was a 22.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.82% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

LHX has been the subject of several research analyst reports. Bank of America upgraded shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and lifted their target price for the company from $240.00 to $300.00 in a research report on Thursday, October 31st. Royal Bank of Canada boosted their price objective on shares of L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. Truist Financial lifted their target price on shares of L3Harris Technologies from $293.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Wells Fargo & Company raised their price target on L3Harris Technologies from $260.00 to $295.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $269.67.

About L3Harris Technologies

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.