Moloney Securities Asset Management LLC Has $715,000 Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Moloney Securities Asset Management LLC increased its position in L3Harris Technologies, Inc. (NYSE:LHX) by 5.3% during the third quarter, HoldingsChannel reports. The institutional investor owned 3,005 shares of the company’s stock after acquiring an additional 150 shares during the period. Moloney Securities Asset Management LLC’s holdings in L3Harris Technologies were worth $715,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. increased its holdings in L3Harris Technologies by 260.6% in the second quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock worth $27,000 after buying an additional 86 shares during the last quarter. EntryPoint Capital LLC increased its holdings in L3Harris Technologies by 70.4% in the first quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock worth $36,000 after buying an additional 69 shares during the last quarter. Versant Capital Management Inc increased its holdings in L3Harris Technologies by 77.7% in the second quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock worth $41,000 after buying an additional 80 shares during the last quarter. Family Firm Inc. acquired a new position in L3Harris Technologies in the second quarter worth approximately $45,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in L3Harris Technologies in the second quarter worth approximately $57,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Stock Up 1.6 %

LHX opened at $250.95 on Wednesday. L3Harris Technologies, Inc. has a 1-year low of $179.56 and a 1-year high of $258.89. 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 stock has a market capitalization of $47.60 billion, a price-to-earnings ratio of 39.64, a P/E/G ratio of 2.06 and a beta of 0.72. The business has a 50 day moving average of $239.48 and a 200-day moving average of $229.71.

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

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be given a $1.16 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.64 annualized dividend and a yield of 1.85%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 73.30%.

Insider Buying and Selling

In related news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $236.68, for a total value of $707,199.84. Following the completion of the transaction, the insider now directly owns 16,316 shares of the company’s stock, valued at $3,861,670.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 8,964 shares of company stock valued at $2,179,119 over the last ninety days. 0.87% of the stock is owned by company insiders.

Analyst Ratings Changes

LHX has been the topic of a number of research reports. StockNews.com upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Wells Fargo & Company upped their target price on L3Harris Technologies from $260.00 to $295.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Morgan Stanley cut L3Harris Technologies from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $275.00 to $257.00 in a research report on Friday, August 9th. Citigroup upped 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. Finally, Barclays upped their target price on L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $267.50.

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.