L3Harris Technologies Inc $LHX Stock: Vise Technologies Inc. Increases Stake

Vise Technologies Inc. grew its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 34.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 7,798 shares of the company’s stock after acquiring an additional 1,982 shares during the quarter. Vise Technologies Inc.’s holdings in L3Harris Technologies were worth $1,846,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Cidel Asset Management Inc. boosted its stake in L3Harris Technologies by 4.9% in the third quarter. Cidel Asset Management Inc. now owns 1,785 shares of the company’s stock valued at $423,000 after acquiring an additional 83 shares during the last quarter. Petros Family Wealth LLC grew its position in shares of L3Harris Technologies by 9.5% during the 3rd quarter. Petros Family Wealth LLC now owns 6,199 shares of the company’s stock valued at $1,468,000 after acquiring an additional 539 shares during the period. International Assets Investment Management LLC increased its stake in shares of L3Harris Technologies by 8,317.5% during the 3rd quarter. International Assets Investment Management LLC now owns 150,000 shares of the company’s stock worth $368,000 after purchasing an additional 148,218 shares during the last quarter. Parcion Private Wealth LLC increased its stake in shares of L3Harris Technologies by 29.8% during the 3rd quarter. Parcion Private Wealth LLC now owns 898 shares of the company’s stock worth $213,000 after purchasing an additional 206 shares during the last quarter. Finally, Partners Wealth Management LLC bought a new stake in shares of L3Harris Technologies in the 3rd quarter worth approximately $239,000. 84.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

LHX has been the topic of several research reports. Argus cut shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Friday, September 25th. Bank of America upped their price target on shares of L3Harris Technologies from $325.00 to $375.00 and gave the company a “buy” rating in a research report on Tuesday. Susquehanna reduced their price objective on L3Harris Technologies from $410.00 to $350.00 and set a “positive” rating on the stock in a research note on Friday, July 31st. Melius Research downgraded L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, September 8th. Finally, UBS Group boosted their target price on L3Harris Technologies from $264.00 to $293.00 and gave the company a “neutral” rating in a research note on Friday, October 30th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $345.60.

L3Harris Technologies Price Performance

L3Harris Technologies stock opened at $258.88 on Friday. The stock has a market cap of $48.20 billion, a price-to-earnings ratio of 24.15, a price-to-earnings-growth ratio of 1.59 and a beta of 0.47. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.20 and a quick ratio of 1.05. L3Harris Technologies Inc has a 1 year low of $232.34 and a 1 year high of $379.23. The firm has a 50-day moving average of $250.19 and a two-hundred day moving average of $303.58.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, October 29th. The company reported $3.28 earnings per share for the quarter, topping the consensus estimate of $2.95 by $0.33. L3Harris Technologies had a net margin of 8.76% and a return on equity of 11.49%. The company had revenue of $6.07 billion for the quarter, compared to the consensus estimate of $5.92 billion. During the same quarter in the previous year, the firm earned $2.70 EPS. L3Harris Technologies’s revenue was up 7.1% compared to the same quarter last year. On average, research analysts forecast that L3Harris Technologies Inc will post 12.04 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, December 4th will be paid a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, December 4th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.9%. L3Harris Technologies’s payout ratio is currently 46.64%.

L3Harris Technologies Company Profile

L3Harris Technologies, Inc is a technology and defense company that develops products and systems for government and commercial customers. Its offerings support aerospace, defense, space, communications, intelligence, surveillance and reconnaissance, electronic warfare, missile defense, and aviation missions.

The company provides secure communications equipment, tactical radios, sensors, avionics, electronic warfare systems, missile and air defense technologies, space payloads and systems, and other mission-critical solutions.