Ashton Thomas Securities LLC Takes Position in L3Harris Technologies, Inc. (NYSE:LHX)

Ashton Thomas Securities LLC acquired a new position in L3Harris Technologies, Inc. (NYSE:LHX) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 269 shares of the company’s stock, valued at approximately $64,000.

A number of other institutional investors have also recently made changes to their positions in the business. QRG Capital Management Inc. increased its stake in shares of L3Harris Technologies by 6.3% in the 1st quarter. QRG Capital Management Inc. now owns 2,431 shares of the company’s stock valued at $518,000 after purchasing an additional 145 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of L3Harris Technologies during the first quarter worth $228,000. State Board of Administration of Florida Retirement System increased its holdings in L3Harris Technologies by 9.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 215,262 shares of the company’s stock valued at $42,243,000 after buying an additional 18,631 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in L3Harris Technologies by 18.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 240,182 shares of the company’s stock valued at $51,183,000 after buying an additional 36,981 shares during the last quarter. Finally, Condor Capital Management increased its holdings in L3Harris Technologies by 56.3% in the first quarter. Condor Capital Management now owns 12,079 shares of the company’s stock valued at $2,574,000 after buying an additional 4,353 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

L3Harris Technologies stock opened at $261.62 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87. The company has a market capitalization of $49.62 billion, a PE ratio of 41.33, a price-to-earnings-growth ratio of 2.17 and a beta of 0.72. L3Harris Technologies, Inc. has a one year low of $182.01 and a one year high of $265.74. The business has a 50 day simple moving average of $241.43 and a 200 day simple moving average of $231.15.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, beating analysts’ consensus estimates of $3.27 by $0.07. The firm had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.28 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The business’s revenue was up 7.7% on a year-over-year basis. During the same period last year, the firm posted $3.19 EPS. On average, sell-side analysts forecast that L3Harris Technologies, Inc. will post 13.09 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be paid a $1.16 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.64 annualized dividend and a dividend yield of 1.77%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 73.30%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on LHX. StockNews.com upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. Wolfe Research raised shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price for the company in a report on Thursday, October 10th. Truist Financial raised their price objective on shares of L3Harris Technologies from $293.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Finally, Susquehanna raised their price objective on shares of L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research note on Monday, July 29th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $267.50.

Insider Activity

In other news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $247.93, for a total value of $740,814.84. Following the transaction, the insider now directly owns 10,340 shares in the company, valued at $2,563,596.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders sold 8,964 shares of company stock valued at $2,179,119. Company insiders own 0.82% of the company’s stock.

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.