L3Harris Technologies Inc $LHX Position Boosted by Conning Inc.

Conning Inc. increased its holdings in L3Harris Technologies Inc (NYSE:LHX) by 22.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 146,726 shares of the company’s stock after purchasing an additional 26,957 shares during the quarter. Conning Inc.’s holdings in L3Harris Technologies were worth $34,742,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Hunter Associates Investment Management LLC boosted its position in L3Harris Technologies by 1.6% during the first quarter. Hunter Associates Investment Management LLC now owns 2,208 shares of the company’s stock valued at $763,000 after buying an additional 34 shares during the period. Miller Global Investments LLC grew its stake in shares of L3Harris Technologies by 34.0% during the second quarter. Miller Global Investments LLC now owns 138 shares of the company’s stock valued at $40,000 after buying an additional 35 shares during the last quarter. AlTi Global Inc. increased its holdings in shares of L3Harris Technologies by 4.3% in the first quarter. AlTi Global Inc. now owns 923 shares of the company’s stock worth $319,000 after buying an additional 38 shares during the period. Twin Lakes Capital Management LLC increased its holdings in shares of L3Harris Technologies by 0.3% in the second quarter. Twin Lakes Capital Management LLC now owns 14,195 shares of the company’s stock worth $4,125,000 after buying an additional 38 shares during the period. Finally, Center for Financial Planning Inc. lifted its stake in shares of L3Harris Technologies by 18.8% in the 3rd quarter. Center for Financial Planning Inc. now owns 246 shares of the company’s stock valued at $58,000 after acquiring an additional 39 shares during the last quarter. 84.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

LHX has been the subject of several analyst reports. Argus cut L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Friday, September 25th. Susquehanna reduced their price target on L3Harris Technologies from $410.00 to $350.00 and set a “positive” rating on the stock in a research report on Friday, July 31st. Guggenheim began coverage on L3Harris Technologies in a research note on Monday, September 14th. They issued a “buy” rating and a $365.00 price target on the stock. Sanford C. Bernstein lowered their price objective on L3Harris Technologies from $346.00 to $318.00 and set an “outperform” rating for the company in a research report on Wednesday, October 14th. Finally, Jefferies Financial Group downgraded L3Harris Technologies from a “buy” rating to a “hold” rating and set a $315.00 price objective for the company. in a research report on Wednesday, August 26th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $341.71.

L3Harris Technologies Stock Up 0.2%

NYSE LHX opened at $259.95 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.18 and a quick ratio of 1.03. The stock has a market capitalization of $48.40 billion, a PE ratio of 26.26, a PEG ratio of 1.59 and a beta of 0.50. L3Harris Technologies Inc has a 1 year low of $232.34 and a 1 year high of $379.23. The business’s 50-day moving average is $249.60 and its 200 day moving average is $305.66.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $3.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.80 by $0.33. The company had revenue of $5.88 billion for the quarter, compared to the consensus estimate of $5.81 billion. L3Harris Technologies had a return on equity of 10.96% and a net margin of 8.17%. L3Harris Technologies’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.78 EPS. Sell-side analysts forecast that L3Harris Technologies Inc will post 11.89 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, December 4th will be issued a $1.25 dividend. The ex-dividend date is Friday, December 4th. This represents a $5.00 annualized dividend and a yield of 1.9%. L3Harris Technologies’s dividend payout ratio (DPR) is 50.51%.

L3Harris Technologies Company Profile

L3Harris Technologies, Inc is a technology and defense company that develops products and systems for government and commercial customers. Its offerings support aerospace, defense, space, communications, intelligence, surveillance and reconnaissance, electronic warfare, missile defense, and aviation missions.

The company provides secure communications equipment, tactical radios, sensors, avionics, electronic warfare systems, missile and air defense technologies, space payloads and systems, and other mission-critical solutions.