L3Harris Technologies, Inc. (NYSE:LHX) Shares Acquired by Fisher Asset Management LLC

Fisher Asset Management LLC lifted its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 16.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,555 shares of the company’s stock after acquiring an additional 220 shares during the quarter. Fisher Asset Management LLC’s holdings in L3Harris Technologies were worth $370,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp grew its position in L3Harris Technologies by 19.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,174,181 shares of the company’s stock worth $712,858,000 after purchasing an additional 523,315 shares during the period. Allspring Global Investments Holdings LLC grew its holdings 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 acquiring an additional 27,763 shares during the period. Massachusetts Financial Services Co. MA raised its position in L3Harris Technologies by 5.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,542,333 shares of the company’s stock valued at $366,875,000 after acquiring an additional 85,882 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in L3Harris Technologies by 2.2% in the second 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 during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of L3Harris Technologies by 12.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,405,337 shares of the company’s stock worth $315,611,000 after purchasing an additional 156,453 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Trading Up 0.4 %

Shares of L3Harris Technologies stock opened at $246.25 on Friday. 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 stock’s 50 day simple moving average is $246.22 and its 200-day simple moving average is $234.15. The stock has a market cap of $46.71 billion, a P/E ratio of 38.90, a P/E/G ratio of 2.05 and a beta of 0.72. L3Harris Technologies, Inc. has a 1-year low of $188.95 and a 1-year high of $265.74.

L3Harris Technologies (NYSE:LHX) last issued its earnings results 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 analysts’ expectations of $5.28 billion. During the same period in the prior year, the business earned $3.19 EPS. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. Analysts predict 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. Shareholders of record on Monday, November 18th will be issued a $1.16 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.64 annualized dividend and a yield of 1.88%. L3Harris Technologies’s payout ratio is 73.30%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on LHX shares. Deutsche Bank Aktiengesellschaft cut their price objective 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. Truist Financial increased their price target on L3Harris Technologies from $293.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Wells Fargo & Company boosted their price objective on L3Harris Technologies from $260.00 to $295.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. Argus upgraded L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 target price on the stock in a research report on Tuesday, November 26th. Finally, Morgan Stanley lowered 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 report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, L3Harris Technologies currently has an average rating of “Moderate Buy” and an average price target of $269.67.

Insider Transactions at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total value of $731,103.84. Following the transaction, the insider now owns 13,328 shares of the company’s stock, valued at $3,261,095.04. This represents a 18.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 8,964 shares of company stock worth $2,179,119 in the last 90 days. Insiders own 0.82% of the company’s stock.

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.