Wealth Enhancement Advisory Services LLC Has $9.71 Million Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Wealth Enhancement Advisory Services LLC decreased its position in L3Harris Technologies, Inc. (NYSE:LHX) by 6.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 40,814 shares of the company’s stock after selling 3,024 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in L3Harris Technologies were worth $9,708,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Koshinski Asset Management Inc. increased its stake in L3Harris Technologies by 2.7% in the 3rd quarter. Koshinski Asset Management Inc. now owns 1,620 shares of the company’s stock valued at $385,000 after buying an additional 42 shares during the last quarter. RFG Advisory LLC increased its stake in L3Harris Technologies by 3.1% in the 2nd quarter. RFG Advisory LLC now owns 1,416 shares of the company’s stock valued at $318,000 after buying an additional 43 shares during the last quarter. Blossom Wealth Management increased its stake in L3Harris Technologies by 1.7% in the 3rd quarter. Blossom Wealth Management now owns 2,538 shares of the company’s stock valued at $604,000 after buying an additional 43 shares during the last quarter. Optas LLC increased its stake in L3Harris Technologies by 3.3% in the 2nd quarter. Optas LLC now owns 1,381 shares of the company’s stock valued at $310,000 after buying an additional 44 shares during the last quarter. Finally, Founders Financial Securities LLC increased its stake in L3Harris Technologies by 2.8% in the 2nd quarter. Founders Financial Securities LLC now owns 1,774 shares of the company’s stock valued at $398,000 after buying an additional 48 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Down 1.2 %

Shares of NYSE:LHX opened at $245.07 on Wednesday. The firm has a fifty day moving average price of $237.74 and a two-hundred day moving average price of $228.12. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.90 and a quick ratio of 0.74. L3Harris Technologies, Inc. has a one year low of $172.30 and a one year high of $258.89. The company has a market cap of $46.49 billion, a price-to-earnings ratio of 39.78, a PEG ratio of 2.10 and a beta of 0.73.

L3Harris Technologies (NYSE:LHX) last announced its quarterly 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 net margin of 5.73% and a return on equity of 13.02%. The firm had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.28 billion. During the same period last year, the firm earned $3.19 EPS. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. Analysts anticipate that L3Harris Technologies, Inc. will post 13.06 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently declared 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. This represents a $4.64 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend is Monday, November 18th. L3Harris Technologies’s payout ratio is 75.32%.

Wall Street Analysts Forecast Growth

Several research firms have commented on LHX. Wells Fargo & Company increased their price objective on shares of L3Harris Technologies from $260.00 to $295.00 and gave the company an “overweight” rating in a research note on Monday. Truist Financial raised their price target on shares of L3Harris Technologies from $293.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday. Susquehanna raised their price target on shares of L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research note on Monday, July 29th. Morgan Stanley lowered shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $275.00 to $257.00 in a research note on Friday, August 9th. Finally, Wolfe Research upgraded shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target for the company in a research note on Thursday, October 10th. Four equities research 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, the company has a consensus rating of “Moderate Buy” and an average target price of $261.50.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $236.68, for a total value of $707,199.84. Following the completion of the transaction, the insider now directly owns 16,316 shares of the company’s stock, valued at $3,861,670.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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.