Verition Fund Management LLC Buys 696 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Verition Fund Management LLC increased its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 3.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,225 shares of the company’s stock after acquiring an additional 696 shares during the quarter. Verition Fund Management LLC’s holdings in L3Harris Technologies were worth $5,287,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in LHX. Bank of New York Mellon Corp boosted 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 purchasing an additional 523,315 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in L3Harris Technologies by 1.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,039,832 shares of the company’s stock valued at $485,215,000 after acquiring an additional 27,763 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in L3Harris Technologies by 5.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,542,333 shares of the company’s stock valued at $366,875,000 after acquiring an additional 85,882 shares during the last quarter. Diamond Hill Capital Management Inc. grew its holdings in L3Harris Technologies by 2.2% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 1,489,129 shares of the company’s stock worth $334,429,000 after acquiring an additional 31,686 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of L3Harris Technologies by 12.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,405,337 shares of the company’s stock valued at $315,611,000 after purchasing an additional 156,453 shares during the period. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Stock Performance

Shares of LHX opened at $242.82 on Tuesday. L3Harris Technologies, Inc. has a 52 week low of $192.95 and a 52 week high of $265.74. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04. The stock has a 50 day moving average price of $246.22 and a two-hundred day moving average price of $234.23. The firm has a market capitalization of $46.06 billion, a P/E ratio of 38.36, a P/E/G ratio of 2.05 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, topping 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 business had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.28 billion. During the same quarter in the prior year, the company posted $3.19 earnings per share. L3Harris Technologies’s revenue was up 7.7% compared to the same quarter last year. Equities analysts forecast that L3Harris Technologies, Inc. will post 13.1 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

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 issued 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 presently 73.30%.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $247.93, for a total transaction of $740,814.84. Following the transaction, the insider now owns 10,340 shares of the company’s stock, valued at $2,563,596.20. This trade represents a 22.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.82% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms recently commented on LHX. Argus raised L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 target price for the company in a research note on Tuesday, November 26th. Wells Fargo & Company raised their price objective on shares of L3Harris Technologies from $260.00 to $295.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Citigroup boosted their target price on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Wolfe Research upgraded shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target for the company in a report on Thursday, October 10th. Finally, Morgan Stanley lowered shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $275.00 to $257.00 in a report on Friday, August 9th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $269.67.

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.