Pathstone Holdings LLC Grows Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Pathstone Holdings LLC raised its position in L3Harris Technologies, Inc. (NYSE:LHX) by 3.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 57,912 shares of the company’s stock after buying an additional 1,844 shares during the period. Pathstone Holdings LLC’s holdings in L3Harris Technologies were worth $13,775,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Meeder Asset Management Inc. increased its position in shares of L3Harris Technologies by 260.6% during the second quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock valued at $27,000 after acquiring an additional 86 shares during the last quarter. Archer Investment Corp increased its position in shares of L3Harris Technologies by 48.9% during the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after purchasing an additional 43 shares during the last quarter. EntryPoint Capital LLC raised its stake in shares of L3Harris Technologies by 70.4% during the 1st quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock worth $36,000 after purchasing an additional 69 shares during the period. Kennebec Savings Bank purchased a new position in shares of L3Harris Technologies in the 3rd quarter worth about $36,000. Finally, Versant Capital Management Inc grew its position in L3Harris Technologies by 77.7% during the second quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock valued at $41,000 after buying an additional 80 shares during the period. Institutional investors own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on LHX shares. Truist Financial lifted their price objective on shares of L3Harris Technologies from $293.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Bank of America upgraded L3Harris Technologies from a “neutral” rating to a “buy” rating and upped their price objective for the company from $240.00 to $300.00 in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft decreased their target price on L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Wells Fargo & Company upped their price target on L3Harris Technologies from $260.00 to $295.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. Finally, StockNews.com raised L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, L3Harris Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $267.50.

Insiders Place Their Bets

In other news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $236.68, for a total value of $707,199.84. Following the transaction, the insider now owns 16,316 shares in the company, valued at approximately $3,861,670.88. The trade was a 15.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 8,964 shares of company stock valued at $2,179,119 over the last quarter. 0.87% of the stock is owned by corporate insiders.

L3Harris Technologies Price Performance

LHX stock opened at $243.55 on Wednesday. L3Harris Technologies, Inc. has a 12 month low of $184.34 and a 12 month high of $265.74. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $46.19 billion, a P/E ratio of 38.48, a price-to-earnings-growth ratio of 2.06 and a beta of 0.72. The firm has a 50 day moving average of $243.77 and a 200-day moving average of $232.74.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, beating the consensus estimate of $3.27 by $0.07. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The firm had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.28 billion. During the same quarter last year, the firm posted $3.19 EPS. The company’s revenue was up 7.7% compared to the same quarter last year. As a group, sell-side analysts predict that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be paid a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend is Monday, November 18th. L3Harris Technologies’s dividend payout ratio (DPR) is currently 73.30%.

About L3Harris Technologies

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.