Sanctuary Advisors LLC Acquires 3,740 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Sanctuary Advisors LLC increased its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 13.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 30,634 shares of the company’s stock after acquiring an additional 3,740 shares during the quarter. Sanctuary Advisors LLC’s holdings in L3Harris Technologies were worth $7,602,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of LHX. Geode Capital Management LLC grew its position in shares of L3Harris Technologies by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,734,832 shares of the company’s stock worth $1,122,630,000 after purchasing an additional 59,008 shares in the last quarter. Bank of New York Mellon Corp boosted its stake 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 buying an additional 523,315 shares during the period. Allspring Global Investments Holdings LLC grew its position in L3Harris Technologies by 1.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,039,832 shares of the company’s stock worth $485,215,000 after buying an additional 27,763 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in L3Harris Technologies by 5.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,542,333 shares of the company’s stock worth $366,875,000 after acquiring an additional 85,882 shares during the period. Finally, Diamond Hill Capital Management Inc. raised its holdings in L3Harris Technologies by 2.2% in 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 in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

LHX has been the topic of a number of recent analyst reports. Wolfe Research upgraded L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target on the stock in a research report on Thursday, October 10th. Truist Financial raised their target price on shares of L3Harris Technologies from $293.00 to $300.00 and gave the company a “buy” rating in a report on Monday, October 28th. StockNews.com raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Wells Fargo & Company decreased their price objective on shares of L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, Royal Bank of Canada upped their target price on L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a research note on Monday, October 28th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $269.13.

L3Harris Technologies Price Performance

Shares of LHX opened at $223.16 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The stock has a market cap of $42.33 billion, a PE ratio of 35.25, a PEG ratio of 1.91 and a beta of 0.72. L3Harris Technologies, Inc. has a 12-month low of $200.18 and a 12-month high of $265.74. The business has a 50-day simple moving average of $245.13 and a two-hundred day simple moving average of $234.86.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $5.28 billion. During the same quarter in the prior year, the firm posted $3.19 earnings per share. The firm’s revenue was up 7.7% compared to the same quarter last year. Analysts anticipate that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Monday, November 18th were paid a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend was Monday, November 18th. L3Harris Technologies’s payout ratio is currently 73.30%.

Insider Transactions at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total transaction of $731,103.84. Following the completion of the transaction, the insider now directly owns 13,328 shares of the company’s stock, valued at $3,261,095.04. This trade represents a 18.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.82% of the stock is owned by company insiders.

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.