L3Harris Technologies Inc $LHX Holdings Boosted by Wealthfront Advisers LLC

Wealthfront Advisers LLC increased its holdings in L3Harris Technologies Inc (NYSE:LHX) by 29.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,255 shares of the company’s stock after acquiring an additional 2,579 shares during the period. Wealthfront Advisers LLC’s holdings in L3Harris Technologies were worth $2,823,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of LHX. Cyndeo Wealth Partners LLC increased its holdings in shares of L3Harris Technologies by 2.7% in the 2nd quarter. Cyndeo Wealth Partners LLC now owns 1,396 shares of the company’s stock valued at $350,000 after purchasing an additional 37 shares during the period. Independence Bank of Kentucky grew its position in L3Harris Technologies by 44.4% during the second quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock valued at $33,000 after purchasing an additional 40 shares in the last quarter. DB Fitzpatrick & Co Inc grew its position in L3Harris Technologies by 1.0% during the second quarter. DB Fitzpatrick & Co Inc now owns 4,450 shares of the company’s stock valued at $1,116,000 after purchasing an additional 42 shares in the last quarter. Riverbend Wealth Management LLC grew its position in L3Harris Technologies by 4.3% during the second quarter. Riverbend Wealth Management LLC now owns 1,027 shares of the company’s stock valued at $258,000 after purchasing an additional 42 shares in the last quarter. Finally, Klingman & Associates LLC boosted its stake in shares of L3Harris Technologies by 2.2% during the 2nd quarter. Klingman & Associates LLC now owns 1,986 shares of the company’s stock valued at $498,000 after buying an additional 42 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LHX has been the subject of several recent research reports. Truist Financial increased their price objective on L3Harris Technologies from $302.00 to $353.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Citigroup upped their target price on L3Harris Technologies from $300.00 to $323.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Morgan Stanley boosted their price target on L3Harris Technologies from $250.00 to $350.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 15th. Weiss Ratings reissued a “buy (b-)” rating on shares of L3Harris Technologies in a research note on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of L3Harris Technologies in a research note on Wednesday, October 8th. Thirteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $287.63.

Insider Buying and Selling

In other news, CEO Christopher E. Kubasik sold 83,000 shares of the stock in a transaction on Friday, September 12th. The shares were sold at an average price of $279.90, for a total value of $23,231,700.00. Following the completion of the transaction, the chief executive officer owned 145,578 shares in the company, valued at approximately $40,747,282.20. This represents a 36.31% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.72% of the stock is currently owned by company insiders.

L3Harris Technologies Price Performance

NYSE LHX opened at $286.98 on Thursday. L3Harris Technologies Inc has a twelve month low of $193.09 and a twelve month high of $308.12. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04. The stock has a market capitalization of $53.69 billion, a PE ratio of 32.07, a P/E/G ratio of 2.10 and a beta of 0.76. The stock has a 50-day simple moving average of $286.25 and a 200 day simple moving average of $260.62.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Monday, November 17th will be issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Monday, November 17th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 53.63%.

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.