Townsquare Capital LLC Grows Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Townsquare Capital LLC lifted its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 18.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,502 shares of the company’s stock after acquiring an additional 547 shares during the quarter. Townsquare Capital LLC’s holdings in L3Harris Technologies were worth $833,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in shares of L3Harris Technologies by 57.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,462 shares of the company’s stock valued at $328,000 after buying an additional 533 shares during the period. Fulton Bank N.A. purchased a new position in shares of L3Harris Technologies in the second quarter valued at $207,000. Kingswood Wealth Advisors LLC increased its holdings in L3Harris Technologies by 43.4% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 6,591 shares of the company’s stock valued at $1,480,000 after acquiring an additional 1,996 shares in the last quarter. Park Avenue Securities LLC increased its stake in shares of L3Harris Technologies by 9.7% during the 2nd quarter. Park Avenue Securities LLC now owns 5,350 shares of the company’s stock worth $1,202,000 after purchasing an additional 472 shares in the last quarter. Finally, Hilltop National Bank raised its holdings in shares of L3Harris Technologies by 36.4% in the second quarter. Hilltop National Bank now owns 480 shares of the company’s stock worth $108,000 after acquiring an additional 128 shares during the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total transaction of $731,103.84. Following the sale, the insider now directly owns 13,328 shares in the company, valued at approximately $3,261,095.04. This represents a 18.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.82% of the stock is currently owned by corporate insiders.

L3Harris Technologies Stock Performance

Shares of LHX stock opened at $242.82 on Tuesday. The company’s 50-day simple moving average is $246.22 and its 200-day simple moving average is $234.23. L3Harris Technologies, Inc. has a one year low of $192.95 and a one year high of $265.74. The stock has a market capitalization of $46.06 billion, a price-to-earnings ratio of 38.36, a PEG ratio of 2.05 and a beta of 0.72. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04.

L3Harris Technologies (NYSE:LHX) last posted its quarterly 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. The business had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.28 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The business’s revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the company posted $3.19 EPS. Equities analysts anticipate that L3Harris Technologies, Inc. will post 13.1 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be paid a dividend of $1.16 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.64 annualized dividend and a yield of 1.91%. L3Harris Technologies’s dividend payout ratio (DPR) is 73.30%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. 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 research report on Thursday, October 3rd. Royal Bank of Canada boosted their target price on L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. Bank of America upgraded L3Harris Technologies from a “neutral” rating to a “buy” rating and increased their price target for the company from $240.00 to $300.00 in a report on Thursday, October 31st. Wells Fargo & Company boosted their price target on L3Harris Technologies from $260.00 to $295.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Finally, Truist Financial increased their price objective on shares of L3Harris Technologies from $293.00 to $300.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, L3Harris Technologies has an average rating of “Moderate Buy” and an average price target of $269.67.

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.