Brown Lisle Cummings Inc. Boosts Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Brown Lisle Cummings Inc. raised its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 19.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 14,585 shares of the company’s stock after purchasing an additional 2,350 shares during the period. L3Harris Technologies accounts for 1.1% of Brown Lisle Cummings Inc.’s investment portfolio, making the stock its 24th largest holding. Brown Lisle Cummings Inc.’s holdings in L3Harris Technologies were worth $3,469,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Meeder Asset Management Inc. lifted its holdings in L3Harris Technologies by 260.6% during the second quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock valued at $27,000 after purchasing an additional 86 shares in the last quarter. EntryPoint Capital LLC lifted its holdings in L3Harris Technologies by 70.4% during 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 in the last quarter. Versant Capital Management Inc lifted its holdings in L3Harris Technologies by 77.7% during the second quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock valued at $41,000 after purchasing an additional 80 shares in the last quarter. Family Firm Inc. purchased a new position in L3Harris Technologies during the second quarter valued at approximately $45,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in L3Harris Technologies during the second quarter valued at approximately $57,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Trading Up 0.2 %

Shares of LHX opened at $248.78 on Monday. L3Harris Technologies, Inc. has a twelve month low of $169.55 and a twelve month high of $249.16. The company has a market cap of $47.19 billion, a P/E ratio of 40.39, a P/E/G ratio of 2.08 and a beta of 0.73. The company has a current ratio of 0.90, a quick ratio of 0.74 and a debt-to-equity ratio of 0.56. The company’s fifty day simple moving average is $235.12 and its 200-day simple moving average is $226.11.

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

L3Harris Technologies Dividend Announcement

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. This represents a $4.64 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Monday, November 18th. L3Harris Technologies’s dividend payout ratio is currently 75.32%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on LHX shares. Morgan Stanley downgraded shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $275.00 to $257.00 in a report on Friday, August 9th. Barclays lifted their price objective on shares of L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Royal Bank of Canada cut shares of L3Harris Technologies from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $250.00 to $240.00 in a research report on Wednesday, August 14th. Wolfe Research upgraded shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective on the stock in a research report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a research report on Thursday, October 3rd. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, L3Harris Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $256.71.

Insider Transactions at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $244.68, for a total value of $731,103.84. Following the transaction, the insider now directly owns 13,328 shares in the company, valued at approximately $3,261,095.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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.