Aljian Capital Management LLC Increases Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Aljian Capital Management LLC raised its position in L3Harris Technologies, Inc. (NYSE:LHX) by 12.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 7,804 shares of the company’s stock after purchasing an additional 891 shares during the period. Aljian Capital Management LLC’s holdings in L3Harris Technologies were worth $1,856,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of LHX. Meeder Asset Management Inc. boosted its position in L3Harris Technologies by 260.6% during the second quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock worth $27,000 after purchasing an additional 86 shares during the period. Archer Investment Corp boosted its stake in L3Harris Technologies by 48.9% during the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after buying an additional 43 shares during the period. EntryPoint Capital LLC grew its position in L3Harris Technologies by 70.4% during the first quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock worth $36,000 after buying an additional 69 shares in the last quarter. Kennebec Savings Bank purchased a new position in L3Harris Technologies during the third quarter worth about $36,000. Finally, Versant Capital Management Inc increased its stake in 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 acquiring an additional 80 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Trading Down 0.5 %

Shares of LHX opened at $247.00 on Monday. L3Harris Technologies, Inc. has a 1-year low of $184.34 and a 1-year high of $265.74. The firm has a market capitalization of $46.85 billion, a price-to-earnings ratio of 39.02, a PEG ratio of 2.06 and a beta of 0.72. The firm’s 50-day moving average price is $243.16 and its 200-day moving average price is $232.29. 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 (NYSE:LHX) last posted its earnings results on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, topping analysts’ consensus estimates of $3.27 by $0.07. The firm had revenue of $5.29 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.19 EPS. Sell-side analysts anticipate that L3Harris Technologies, Inc. will post 13.09 EPS for the current year.

L3Harris Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be paid a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 1.88%. The ex-dividend date is Monday, November 18th. L3Harris Technologies’s payout ratio is currently 73.30%.

Insider Buying and Selling at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $236.68, for a total value of $707,199.84. Following the sale, the insider now owns 16,316 shares in the company, valued at $3,861,670.88. This represents a 15.48 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last quarter, insiders sold 8,964 shares of company stock valued at $2,179,119. Corporate insiders own 0.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on LHX. Wells Fargo & Company boosted their price objective on L3Harris Technologies from $260.00 to $295.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Morgan Stanley cut shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $275.00 to $257.00 in a research note on Friday, August 9th. StockNews.com raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. Bank of America upgraded shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and upped their price target for the company from $240.00 to $300.00 in a research report on Thursday, October 31st. Finally, Royal Bank of Canada lifted their price objective on L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $267.50.

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.