Brooklyn Investment Group Takes Position in L3Harris Technologies, Inc. (NYSE:LHX)

Brooklyn Investment Group purchased a new position in shares of L3Harris Technologies, Inc. (NYSE:LHX) in the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 992 shares of the company’s stock, valued at approximately $236,000.

Several other large investors also recently added to or reduced their stakes in the company. EntryPoint Capital LLC raised its position in shares of L3Harris Technologies by 70.4% in the first quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock valued at $36,000 after purchasing an additional 69 shares during the period. B. Riley Wealth Advisors Inc. grew its position in shares of L3Harris Technologies by 2.8% in the first quarter. B. Riley Wealth Advisors Inc. now owns 7,074 shares of the company’s stock valued at $1,507,000 after purchasing an additional 193 shares in the last quarter. Comerica Bank lifted its holdings in L3Harris Technologies by 5.1% during the 1st quarter. Comerica Bank now owns 86,019 shares of the company’s stock worth $18,331,000 after purchasing an additional 4,148 shares in the last quarter. Plato Investment Management Ltd grew its holdings in L3Harris Technologies by 1,052.6% during the 1st quarter. Plato Investment Management Ltd now owns 3,331 shares of the company’s stock valued at $710,000 after buying an additional 3,042 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of L3Harris Technologies in the first quarter worth about $1,960,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

Shares of NYSE:LHX opened at $245.57 on Wednesday. The company has a market capitalization of $46.58 billion, a P/E ratio of 38.79, a P/E/G ratio of 2.01 and a beta of 0.72. L3Harris Technologies, Inc. has a 1-year low of $187.37 and a 1-year high of $265.74. The firm’s 50 day simple moving average is $245.35 and its two-hundred day simple moving average is $233.72. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87.

L3Harris Technologies (NYSE:LHX) last released its 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. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The company had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.28 billion. During the same quarter in the previous year, the company earned $3.19 EPS. L3Harris Technologies’s revenue for the quarter was up 7.7% on a year-over-year basis. Research analysts expect that L3Harris Technologies, Inc. will post 13.09 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend is Monday, November 18th. L3Harris Technologies’s dividend payout ratio is currently 73.30%.

Analyst Ratings Changes

A number of research firms recently weighed in on LHX. Wolfe Research raised shares of 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. Argus raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price target on the stock in a report on Tuesday. Deutsche Bank Aktiengesellschaft dropped their price objective on L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a research note on Thursday, October 3rd. Barclays boosted their target price on L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Finally, StockNews.com raised L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, L3Harris Technologies presently has an average rating of “Moderate Buy” and an average price target of $269.67.

Insider Activity at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $236.68, for a total transaction of $707,199.84. Following the completion of the transaction, the insider now owns 16,316 shares in the company, valued at approximately $3,861,670.88. This represents a 15.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last 90 days, insiders have sold 8,964 shares of company stock valued at $2,179,119. 0.87% 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.