L3Harris Technologies Inc $LHX Stock: Schwartz Investment Counsel Inc. Increases Position

Schwartz Investment Counsel Inc. lifted its holdings in L3Harris Technologies Inc (NYSE:LHX) by 16.6% in the third quarter, HoldingsChannel.com reports. The fund owned 140,575 shares of the company’s stock after buying an additional 20,000 shares during the quarter. Schwartz Investment Counsel Inc.’s holdings in L3Harris Technologies were worth $33,285,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. NBH Bank bought a new stake in L3Harris Technologies during the 2nd quarter valued at approximately $26,000. Cedar Mountain Advisors LLC lifted its holdings in L3Harris Technologies by 1,233.3% in the 1st quarter. Cedar Mountain Advisors LLC now owns 80 shares of the company’s stock worth $28,000 after purchasing an additional 74 shares in the last quarter. Elevation Wealth Partners LLC boosted its stake in L3Harris Technologies by 80.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 99 shares of the company’s stock worth $29,000 after purchasing an additional 44 shares during the period. Bell Investment Advisors Inc bought a new position in L3Harris Technologies in the 2nd quarter worth approximately $33,000. Finally, Fiduciary Financial Advisors bought a new position in L3Harris Technologies in the 2nd quarter worth approximately $38,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Performance

Shares of LHX opened at $259.05 on Wednesday. The company’s fifty day moving average is $250.01 and its 200 day moving average is $305.99. L3Harris Technologies Inc has a fifty-two week low of $232.34 and a fifty-two week high of $379.23.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Wednesday, July 29th. The company reported $3.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.80 by $0.33. The business had revenue of $5.88 billion for the quarter, compared to analysts’ expectations of $5.81 billion. During the same period in the previous year, the company earned $2.78 EPS. L3Harris Technologies’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that L3Harris Technologies Inc will post 11.89 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, December 4th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, December 4th.

Analyst Upgrades and Downgrades

LHX has been the topic of several recent analyst reports. TD Cowen reduced their price objective on shares of L3Harris Technologies from $370.00 to $280.00 and set a “buy” rating on the stock in a research report on Friday, October 9th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of L3Harris Technologies in a research report on Tuesday, August 18th. Sanford C. Bernstein cut their target price on shares of L3Harris Technologies from $346.00 to $318.00 and set an “outperform” rating for the company in a research note on Wednesday, October 14th. Royal Bank Of Canada cut their target price on shares of L3Harris Technologies from $310.00 to $265.00 and set a “sector perform” rating for the company in a research note on Thursday, October 15th. Finally, Wall Street Zen downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Saturday. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $341.71.

About L3Harris Technologies

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.