Cetera Investment Advisers Increases Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Cetera Investment Advisers increased its holdings in L3Harris Technologies, Inc. (NYSE:LHXGet Rating) by 1.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,399 shares of the company’s stock after acquiring an additional 131 shares during the quarter. Cetera Investment Advisers’ holdings in L3Harris Technologies were worth $3,239,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LHX. Vanguard Group Inc. lifted its position in L3Harris Technologies by 1.1% during the first quarter. Vanguard Group Inc. now owns 16,969,557 shares of the company’s stock valued at $4,216,426,000 after buying an additional 186,824 shares during the period. Capital World Investors lifted its position in L3Harris Technologies by 1.0% during the first quarter. Capital World Investors now owns 15,022,227 shares of the company’s stock valued at $3,732,645,000 after buying an additional 150,987 shares during the period. BlackRock Inc. lifted its position in L3Harris Technologies by 1.4% during the first quarter. BlackRock Inc. now owns 12,454,934 shares of the company’s stock valued at $3,094,678,000 after buying an additional 174,922 shares during the period. State Street Corp lifted its position in L3Harris Technologies by 8.1% during the first quarter. State Street Corp now owns 8,886,247 shares of the company’s stock valued at $2,207,966,000 after buying an additional 668,800 shares during the period. Finally, Bank of America Corp DE lifted its position in L3Harris Technologies by 39.9% during the first quarter. Bank of America Corp DE now owns 8,046,413 shares of the company’s stock valued at $1,999,292,000 after buying an additional 2,293,072 shares during the period. Hedge funds and other institutional investors own 83.00% of the company’s stock.

L3Harris Technologies Price Performance

NYSE LHX opened at $226.43 on Thursday. L3Harris Technologies, Inc. has a one year low of $200.71 and a one year high of $279.71. The stock has a 50-day moving average of $229.46 and a 200 day moving average of $232.50. The company has a market capitalization of $43.11 billion, a price-to-earnings ratio of 39.31, a PEG ratio of 6.47 and a beta of 0.75. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.87 and a current ratio of 1.10.

L3Harris Technologies (NYSE:LHXGet Rating) last released its quarterly earnings data on Thursday, October 27th. The company reported $3.26 EPS for the quarter, missing the consensus estimate of $3.47 by ($0.21). The business had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $4.41 billion. L3Harris Technologies had a return on equity of 13.18% and a net margin of 6.71%. L3Harris Technologies’s quarterly revenue was up .4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.21 earnings per share. On average, sell-side analysts forecast that L3Harris Technologies, Inc. will post 12.86 EPS for the current year.

L3Harris Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Shareholders of record on Friday, November 18th will be paid a dividend of $1.12 per share. The ex-dividend date is Thursday, November 17th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 1.98%. L3Harris Technologies’s dividend payout ratio is currently 77.78%.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, VP James P. Girard sold 12,460 shares of the business’s stock in a transaction dated Monday, October 17th. The stock was sold at an average price of $220.00, for a total transaction of $2,741,200.00. Following the completion of the sale, the vice president now directly owns 12,144 shares in the company, valued at approximately $2,671,680. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, VP James P. Girard sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 8th. The stock was sold at an average price of $229.38, for a total transaction of $1,146,900.00. Following the completion of the transaction, the vice president now directly owns 7,144 shares in the company, valued at approximately $1,638,690.72. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP James P. Girard sold 12,460 shares of the business’s stock in a transaction that occurred on Monday, October 17th. The shares were sold at an average price of $220.00, for a total value of $2,741,200.00. Following the transaction, the vice president now owns 12,144 shares of the company’s stock, valued at $2,671,680. The disclosure for this sale can be found here. Insiders sold a total of 37,460 shares of company stock worth $8,792,500 in the last three months. 1.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

LHX has been the subject of several recent analyst reports. Raymond James lowered L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research report on Friday, October 28th. Wells Fargo & Company lowered L3Harris Technologies from an “overweight” rating to an “equal weight” rating and set a $238.00 price target for the company. in a research report on Wednesday, September 28th. Wolfe Research initiated coverage on L3Harris Technologies in a research report on Monday, October 10th. They issued a “peer perform” rating for the company. StockNews.com initiated coverage on L3Harris Technologies in a research report on Wednesday, October 12th. They issued a “buy” rating for the company. Finally, Argus lowered L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 10th. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, L3Harris Technologies currently has a consensus rating of “Hold” and a consensus price target of $269.42.

L3Harris Technologies Company Profile

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L3Harris Technologies, Inc, an aerospace and defense technology company, provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides multi-mission intelligence, surveillance, and reconnaissance (ISR) systems; and communication systems, as well as fleet management support, sensor development, modification, and periodic depot maintenance services for ISR and airborne missions.

Further Reading

Institutional Ownership by Quarter for L3Harris Technologies (NYSE:LHX)

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