L3Harris Technologies, Inc. (NYSE:LHX) Shares Bought by SevenBridge Financial Group LLC

SevenBridge Financial Group LLC grew its position in L3Harris Technologies, Inc. (NYSE:LHX) by 1.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,859 shares of the company’s stock after buying an additional 112 shares during the period. SevenBridge Financial Group LLC’s holdings in L3Harris Technologies were worth $3,133,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. MGB Wealth Management LLC increased its stake in L3Harris Technologies by 35.0% during the third quarter. MGB Wealth Management LLC now owns 1,929 shares of the company’s stock worth $459,000 after acquiring an additional 500 shares during the last quarter. Penserra Capital Management LLC increased its position in shares of L3Harris Technologies by 1.9% during the 3rd quarter. Penserra Capital Management LLC now owns 3,445 shares of the company’s stock worth $818,000 after purchasing an additional 63 shares during the last quarter. Kingsview Wealth Management LLC raised its holdings in L3Harris Technologies by 7.7% in the 3rd quarter. Kingsview Wealth Management LLC now owns 4,292 shares of the company’s stock valued at $1,021,000 after buying an additional 306 shares during the period. Cerity Partners LLC lifted its position in L3Harris Technologies by 11.8% in the third quarter. Cerity Partners LLC now owns 57,691 shares of the company’s stock valued at $13,723,000 after buying an additional 6,100 shares during the last quarter. Finally, Stonebrook Private Inc. boosted its stake in L3Harris Technologies by 2.7% during the third quarter. Stonebrook Private Inc. now owns 3,385 shares of the company’s stock worth $805,000 after buying an additional 90 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on LHX. Citigroup upped their price objective on shares of L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. StockNews.com upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. Wells Fargo & Company boosted their price objective on L3Harris Technologies from $260.00 to $295.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Wolfe Research raised L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price on the stock in a research note on Thursday, October 10th. Finally, Royal Bank of Canada lifted their target price on L3Harris Technologies from $240.00 to $265.00 and gave the company a “sector perform” rating in a research report on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $267.50.

Insider Activity at L3Harris Technologies

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 transaction of $707,199.84. Following the sale, the insider now directly owns 16,316 shares in the company, valued at $3,861,670.88. This trade represents a 15.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 8,964 shares of company stock valued at $2,179,119 over the last three months. 0.82% of the stock is owned by corporate insiders.

L3Harris Technologies Trading Up 0.6 %

NYSE LHX opened at $248.16 on Friday. L3Harris Technologies, Inc. has a 52 week low of $187.37 and a 52 week high of $265.74. The firm has a 50 day moving average of $244.86 and a two-hundred day moving average of $233.27. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $47.07 billion, a PE ratio of 39.20, a price-to-earnings-growth ratio of 2.06 and a beta of 0.72.

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

L3Harris Technologies Announces Dividend

The firm also recently announced 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 annualized dividend and a yield of 1.87%. The ex-dividend date is Monday, November 18th. L3Harris Technologies’s payout ratio is 73.30%.

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.