Aljian Capital Management LLC Has $1.86 Million Position in L3Harris Technologies, Inc. (NYSE:LHX)

Aljian Capital Management LLC increased its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 12.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,804 shares of the company’s stock after acquiring an additional 891 shares during the period. Aljian Capital Management LLC’s holdings in L3Harris Technologies were worth $1,856,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. Manning & Napier Advisors LLC bought a new stake in shares of L3Harris Technologies during the 2nd quarter valued at approximately $210,886,000. Envestnet Asset Management Inc. increased its holdings in shares of L3Harris Technologies by 236.8% during the second quarter. Envestnet Asset Management Inc. now owns 989,340 shares of the company’s stock worth $222,186,000 after buying an additional 695,582 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of L3Harris Technologies by 19.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,174,181 shares of the company’s stock valued at $712,858,000 after acquiring an additional 523,315 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of L3Harris Technologies by 65.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 434,287 shares of the company’s stock valued at $97,532,000 after acquiring an additional 171,420 shares in the last quarter. Finally, International Assets Investment Management LLC grew its position in L3Harris Technologies by 23,627.0% during the 3rd quarter. International Assets Investment Management LLC now owns 170,597 shares of the company’s stock worth $40,580,000 after acquiring an additional 169,878 shares during the last quarter. 84.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Morgan Stanley downgraded L3Harris Technologies from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $275.00 to $257.00 in a research report on Friday, August 9th. Susquehanna boosted their target price on shares of L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a report on Monday, July 29th. StockNews.com upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Bank of America raised shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $240.00 to $300.00 in a research note on Thursday, October 31st. Finally, Citigroup raised their target price on L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $267.50.

Insiders Place Their Bets

In related news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $236.68, for a total value of $707,199.84. Following the completion of the sale, the insider now owns 16,316 shares of the company’s stock, valued at approximately $3,861,670.88. This trade represents a 15.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have sold 8,964 shares of company stock worth $2,179,119. Corporate insiders own 0.82% of the company’s stock.

L3Harris Technologies Price Performance

L3Harris Technologies stock opened at $247.00 on Monday. The stock’s 50 day moving average price is $243.16 and its two-hundred day moving average price is $232.29. The stock has a market capitalization of $46.85 billion, a price-to-earnings ratio of 39.02, a PEG ratio of 2.06 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, Inc. has a 52-week low of $184.34 and a 52-week high of $265.74.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, October 24th. The company reported $3.34 EPS for the quarter, topping analysts’ consensus estimates of $3.27 by $0.07. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The business had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.28 billion. During the same period last year, the company posted $3.19 earnings per share. The business’s quarterly revenue was up 7.7% on a year-over-year basis. On average, equities analysts predict that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The company also recently declared 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. This represents a $4.64 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend is Monday, November 18th. L3Harris Technologies’s dividend payout ratio (DPR) is currently 73.30%.

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.