Rheos Capital Works Inc. Acquires 7,500 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Rheos Capital Works Inc. grew its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 12.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 66,700 shares of the company’s stock after buying an additional 7,500 shares during the period. Rheos Capital Works Inc.’s holdings in L3Harris Technologies were worth $15,866,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LHX. Meeder Asset Management Inc. boosted its holdings in L3Harris Technologies by 260.6% in the second quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock valued at $27,000 after acquiring an additional 86 shares in the last quarter. EntryPoint Capital LLC boosted its holdings in shares of L3Harris Technologies by 70.4% during the 1st quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock valued at $36,000 after buying an additional 69 shares in the last quarter. Versant Capital Management Inc grew its position in shares of L3Harris Technologies by 77.7% in the 2nd quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock worth $41,000 after buying an additional 80 shares during the period. Family Firm Inc. bought a new position in shares of L3Harris Technologies in the 2nd quarter worth about $45,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of L3Harris Technologies in the 2nd quarter worth about $57,000. Institutional investors own 84.76% of the company’s stock.

Insider Buying and Selling

In related news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction that occurred 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 sale, the insider now owns 13,328 shares of the company’s stock, valued at approximately $3,261,095.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.82% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Citigroup lifted their target price on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Wolfe Research raised L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price on the stock in a report on Thursday, October 10th. Barclays raised their price target on L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Morgan Stanley cut 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 note on Friday, August 9th. Finally, Wells Fargo & Company reduced their price objective on shares of L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $253.64.

L3Harris Technologies Trading Up 1.2 %

Shares of NYSE:LHX opened at $248.19 on Thursday. The stock’s 50-day simple moving average is $234.35 and its two-hundred day simple moving average is $225.37. The stock has a market capitalization of $47.08 billion, a price-to-earnings ratio of 40.29, a PEG ratio of 2.08 and a beta of 0.73. L3Harris Technologies, Inc. has a 52-week low of $169.55 and a 52-week high of $249.00. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.74 and a current ratio of 0.90.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, July 25th. The company reported $3.24 EPS for the quarter, beating analysts’ consensus estimates of $3.18 by $0.06. The business had revenue of $5.30 billion during the quarter, compared to analysts’ expectations of $5.30 billion. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The firm’s revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the company earned $2.97 earnings per share. Analysts expect that L3Harris Technologies, Inc. will post 13.06 EPS for the current year.

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be issued a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 1.87%. L3Harris Technologies’s dividend payout ratio is 75.32%.

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.