Thompson Siegel & Walmsley LLC Has $3.37 Million Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Thompson Siegel & Walmsley LLC raised its position in L3Harris Technologies, Inc. (NYSE:LHX) by 0.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,165 shares of the company’s stock after buying an additional 54 shares during the quarter. Thompson Siegel & Walmsley LLC’s holdings in L3Harris Technologies were worth $3,369,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in LHX. Manning & Napier Advisors LLC acquired a new position in L3Harris Technologies during the second quarter valued at approximately $210,886,000. Envestnet Asset Management Inc. increased its stake in shares of L3Harris Technologies by 236.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 989,340 shares of the company’s stock valued at $222,186,000 after purchasing an additional 695,582 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of L3Harris Technologies by 19.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,174,181 shares of the company’s stock worth $712,858,000 after buying an additional 523,315 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of L3Harris Technologies by 65.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 434,287 shares of the company’s stock worth $97,532,000 after buying an additional 171,420 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its stake in L3Harris Technologies by 23,627.0% in the third quarter. International Assets Investment Management LLC now owns 170,597 shares of the company’s stock valued at $40,580,000 after buying an additional 169,878 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $236.68, for a total transaction of $707,199.84. Following the transaction, the insider now owns 16,316 shares in the company, valued at $3,861,670.88. The trade was a 15.48 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 8,964 shares of company stock worth $2,179,119 in the last 90 days. Corporate insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on LHX. Royal Bank of Canada increased their target price on shares of L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. 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 research report on Thursday, October 10th. StockNews.com upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Susquehanna raised their price objective on L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a report on Monday, July 29th. Finally, Citigroup upped their target price on L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $267.50.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $248.16 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04. L3Harris Technologies, Inc. has a fifty-two week low of $187.37 and a fifty-two week high of $265.74. The company has a 50 day simple moving average of $244.86 and a two-hundred day simple moving average of $233.15. The company has a market capitalization of $47.07 billion, a PE ratio of 39.20, a P/E/G ratio of 2.03 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, October 24th. The company reported $3.34 EPS for the quarter, beating analysts’ consensus estimates of $3.27 by $0.07. The company had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.28 billion. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm posted $3.19 EPS. Research analysts anticipate that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date is Monday, November 18th. L3Harris Technologies’s dividend payout ratio is 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.