Tectonic Advisors LLC Purchases 110 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Tectonic Advisors LLC lifted its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 5.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 2,185 shares of the company’s stock after purchasing an additional 110 shares during the quarter. Tectonic Advisors LLC’s holdings in L3Harris Technologies were worth $520,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Wealthcare Advisory Partners LLC acquired a new stake in L3Harris Technologies during the first quarter worth $216,000. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of L3Harris Technologies by 18.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 37,204 shares of the company’s stock worth $7,928,000 after acquiring an additional 5,877 shares during the period. Fifth Third Wealth Advisors LLC acquired a new stake in shares of L3Harris Technologies during the 1st quarter valued at about $265,000. Independence Bank of Kentucky increased its stake in L3Harris Technologies by 63.0% in the first quarter. Independence Bank of Kentucky now owns 515 shares of the company’s stock valued at $110,000 after acquiring an additional 199 shares during the period. Finally, Griffin Asset Management Inc. raised its position in L3Harris Technologies by 2.9% in the first quarter. Griffin Asset Management Inc. now owns 5,365 shares of the company’s stock worth $1,143,000 after purchasing an additional 151 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Transactions at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction that occurred on 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 $3,261,095.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.82% of the stock is owned by corporate insiders.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock opened at $252.66 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.90 and a quick ratio of 0.74. The firm has a 50 day simple moving average of $236.59 and a 200 day simple moving average of $226.89. L3Harris Technologies, Inc. has a fifty-two week low of $169.55 and a fifty-two week high of $258.89. The firm has a market cap of $47.92 billion, a P/E ratio of 41.02, a P/E/G ratio of 2.08 and a beta of 0.73.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, October 24th. The company reported $3.34 EPS for the quarter, beating the consensus estimate of $3.27 by $0.07. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The company had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.28 billion. During the same period last year, the firm earned $3.19 EPS. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. Sell-side analysts predict that L3Harris Technologies, Inc. will post 13.06 earnings per share 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. 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 1.84%. The ex-dividend date of this dividend is Monday, November 18th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on LHX shares. Barclays lifted their price objective on L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Wolfe Research raised L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target on the stock in a research note on Thursday, October 10th. Royal Bank of Canada lowered L3Harris Technologies from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $250.00 to $240.00 in a research note on Wednesday, August 14th. Citigroup boosted their target price on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, Susquehanna upped their target price on shares of L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a report on Monday, July 29th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $256.71.

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.