Cypress Capital Group Has $2.49 Million Position in L3Harris Technologies, Inc. (NYSE:LHX)

Cypress Capital Group lifted its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 0.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,472 shares of the company’s stock after purchasing an additional 97 shares during the quarter. Cypress Capital Group’s holdings in L3Harris Technologies were worth $2,491,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of LHX. Edgestream Partners L.P. boosted its position in shares of L3Harris Technologies by 151.6% during the 1st quarter. Edgestream Partners L.P. now owns 3,859 shares of the company’s stock worth $822,000 after acquiring an additional 2,325 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in shares of L3Harris Technologies by 47.7% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 10,880 shares of the company’s stock valued at $2,319,000 after acquiring an additional 3,513 shares in the last quarter. Bessemer Group Inc. grew its position in L3Harris Technologies by 111.6% during the 1st quarter. Bessemer Group Inc. now owns 13,629 shares of the company’s stock worth $2,904,000 after acquiring an additional 7,187 shares during the last quarter. Lake Street Advisors Group LLC bought a new stake in shares of L3Harris Technologies in the first quarter worth $235,000. Finally, Natixis grew its position in shares of L3Harris Technologies by 774.1% in the 1st quarter. Natixis now owns 6,337 shares of the company’s stock valued at $1,350,000 after buying an additional 5,612 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Wolfe Research upgraded shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price on the stock in a report on Thursday, October 10th. StockNews.com raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. Wells Fargo & Company raised their target price on L3Harris Technologies from $260.00 to $295.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Royal Bank of Canada boosted their price target on L3Harris Technologies from $240.00 to $265.00 and gave the company a “sector perform” rating in a research note on Monday, October 28th. Finally, Truist Financial raised their price objective on shares of L3Harris Technologies from $293.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $267.50.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $236.68, for a total value of $707,199.84. Following the transaction, the insider now directly owns 16,316 shares of the company’s stock, valued at approximately $3,861,670.88. This trade represents a 15.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold 8,964 shares of company stock worth $2,179,119 over the last 90 days. 0.82% of the stock is owned by company insiders.

L3Harris Technologies Stock Up 0.3 %

Shares of NYSE LHX opened at $244.36 on Thursday. The business has a 50-day moving average of $244.12 and a 200-day moving average of $232.82. The firm has a market capitalization of $46.35 billion, a price-to-earnings ratio of 38.60, a PEG ratio of 2.03 and a beta of 0.72. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58. L3Harris Technologies, Inc. has a 12 month low of $185.98 and a 12 month high of $265.74.

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

L3Harris Technologies Dividend Announcement

The business 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 $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend is Monday, November 18th. L3Harris Technologies’s dividend payout ratio (DPR) is currently 73.30%.

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.