L3Harris Technologies Inc $LHX Shares Bought by Jones Financial Companies Lllp

Jones Financial Companies Lllp increased its holdings in L3Harris Technologies Inc (NYSE:LHX) by 49.7% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 9,000 shares of the company’s stock after purchasing an additional 2,988 shares during the quarter. Jones Financial Companies Lllp’s holdings in L3Harris Technologies were worth $2,646,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in LHX. Kiker Wealth Management LLC grew its position in shares of L3Harris Technologies by 137.0% in the second quarter. Kiker Wealth Management LLC now owns 109 shares of the company’s stock valued at $27,000 after purchasing an additional 63 shares during the last quarter. Harbor Asset Planning Inc. acquired a new stake in L3Harris Technologies during the 2nd quarter valued at $32,000. Twin Peaks Wealth Advisors LLC purchased a new position in L3Harris Technologies during the second quarter worth $34,000. Salomon & Ludwin LLC purchased a new stake in shares of L3Harris Technologies in the third quarter valued at $34,000. Finally, Rakuten Securities Inc. grew its stake in L3Harris Technologies by 234.8% in the 2nd quarter. Rakuten Securities Inc. now owns 154 shares of the company’s stock worth $39,000 after acquiring an additional 108 shares during the period. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

L3Harris Technologies Trading Up 2.2%

L3Harris Technologies stock opened at $349.62 on Monday. L3Harris Technologies Inc has a 1 year low of $193.09 and a 1 year high of $369.59. The firm’s 50-day moving average is $314.93 and its 200-day moving average is $294.55. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.19. The company has a market cap of $65.40 billion, a P/E ratio of 40.99, a PEG ratio of 2.52 and a beta of 0.64.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, topping the consensus estimate of $2.76 by $0.10. L3Harris Technologies had a net margin of 7.35% and a return on equity of 10.43%. The firm had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.76 billion. During the same quarter in the prior year, the business earned $3.47 earnings per share. L3Harris Technologies’s quarterly revenue was up 2.3% on a year-over-year basis. On average, equities analysts expect that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be issued a $1.25 dividend. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.20. The ex-dividend date of this dividend is Friday, March 6th. This represents a $5.00 annualized dividend and a dividend yield of 1.4%. L3Harris Technologies’s dividend payout ratio (DPR) is 58.62%.

Analyst Upgrades and Downgrades

LHX has been the topic of a number of research reports. Citigroup raised their target price on shares of L3Harris Technologies from $389.00 to $418.00 and gave the company a “buy” rating in a research note on Thursday. Truist Financial set a $364.00 target price on shares of L3Harris Technologies in a research report on Wednesday, January 14th. Wall Street Zen cut shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Saturday. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of L3Harris Technologies in a research report on Friday. Finally, Vertical Research reaffirmed a “buy” rating and issued a $355.00 price target on shares of L3Harris Technologies in a report on Tuesday, January 13th. Fifteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $328.57.

Insider Buying and Selling

In other news, insider Samir Mehta sold 4,840 shares of the business’s stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $338.85, for a total transaction of $1,640,034.00. Following the completion of the transaction, the insider owned 5,916 shares of the company’s stock, valued at approximately $2,004,636.60. The trade was a 45.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Christopher E. Kubasik sold 14,171 shares of the company’s stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $301.05, for a total transaction of $4,266,179.55. Following the transaction, the chief executive officer owned 144,426 shares of the company’s stock, valued at $43,479,447.30. This represents a 8.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.72% of the company’s stock.

About L3Harris Technologies

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.