L3Harris Technologies Inc $LHX Holdings Raised by Provenance Wealth Advisors LLC

Provenance Wealth Advisors LLC grew its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 2,207.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,576 shares of the company’s stock after buying an additional 3,421 shares during the period. Provenance Wealth Advisors LLC’s holdings in L3Harris Technologies were worth $847,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in shares of L3Harris Technologies during the second quarter valued at $5,525,806,000. State Street Corp increased its position in L3Harris Technologies by 2.9% during the 2nd quarter. State Street Corp now owns 9,097,353 shares of the company’s stock worth $2,643,600,000 after purchasing an additional 252,662 shares in the last quarter. Wellington Management Group LLP increased its position in L3Harris Technologies by 7.1% during the 2nd quarter. Wellington Management Group LLP now owns 4,707,086 shares of the company’s stock worth $1,367,832,000 after purchasing an additional 313,431 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in L3Harris Technologies in the 2nd quarter valued at about $752,983,000. Finally, Bank of America Corp DE raised its stake in L3Harris Technologies by 1.4% in the 2nd quarter. Bank of America Corp DE now owns 1,945,342 shares of the company’s stock valued at $565,297,000 after purchasing an additional 27,610 shares during the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on LHX. Guggenheim assumed coverage on shares of L3Harris Technologies in a report on Monday, September 14th. They issued a “buy” rating and a $365.00 target price on the stock. Bank of America lifted their price target on shares of L3Harris Technologies from $325.00 to $375.00 and gave the stock a “buy” rating in a report on Tuesday. Wall Street Zen upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Sunday. Argus lowered shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Friday, September 25th. Finally, Sanford C. Bernstein reduced their price objective on shares of L3Harris Technologies from $346.00 to $318.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 14th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $345.60.

L3Harris Technologies Stock Down 6.5%

Shares of LHX opened at $259.61 on Thursday. L3Harris Technologies Inc has a fifty-two week low of $232.34 and a fifty-two week high of $379.23. The company’s fifty day moving average is $250.27 and its two-hundred day moving average is $304.02. The firm has a market cap of $48.34 billion, a PE ratio of 24.22, a price-to-earnings-growth ratio of 1.71 and a beta of 0.47. The company has a quick ratio of 1.05, a current ratio of 1.20 and a debt-to-equity ratio of 0.45.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, October 29th. The company reported $3.28 EPS for the quarter, topping analysts’ consensus estimates of $2.95 by $0.33. The business had revenue of $6.07 billion during the quarter, compared to the consensus estimate of $5.92 billion. L3Harris Technologies had a return on equity of 11.49% and a net margin of 8.76%. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the prior year, the firm posted $2.70 EPS. Analysts forecast that L3Harris Technologies Inc will post 11.98 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, December 4th will be paid a dividend of $1.25 per share. 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 is currently 46.64%.

About L3Harris Technologies

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.