Avestar Capital LLC Purchases 51 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Avestar Capital LLC lifted its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 4.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,255 shares of the company’s stock after acquiring an additional 51 shares during the quarter. Avestar Capital LLC’s holdings in L3Harris Technologies were worth $299,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in LHX. Meeder Asset Management Inc. grew its stake in shares of L3Harris Technologies by 260.6% during the 2nd quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock worth $27,000 after acquiring an additional 86 shares during the period. Archer Investment Corp lifted its holdings in L3Harris Technologies by 48.9% during the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after purchasing an additional 43 shares in the last quarter. Kennebec Savings Bank purchased a new stake in L3Harris Technologies during the 3rd quarter worth about $36,000. Versant Capital Management Inc lifted its holdings in L3Harris Technologies by 77.7% during the 2nd quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock worth $41,000 after purchasing an additional 80 shares in the last quarter. Finally, Family Firm Inc. purchased a new stake in L3Harris Technologies during the 2nd quarter worth about $45,000. Institutional investors own 84.76% of the company’s stock.

Analysts Set New Price Targets

LHX has been the topic of a number of recent research reports. Argus raised L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price objective on the stock in a report on Tuesday. StockNews.com raised L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Citigroup raised their price target on L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Morgan Stanley cut L3Harris Technologies from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $275.00 to $257.00 in a report on Friday, August 9th. Finally, Truist Financial raised their price target on L3Harris Technologies from $293.00 to $300.00 and gave the company a “buy” rating in a report on Monday, October 28th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $269.67.

Insider Transactions at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total value of $731,103.84. Following the sale, the insider now directly owns 13,328 shares in the company, valued at approximately $3,261,095.04. This trade represents a 18.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders have sold 8,964 shares of company stock worth $2,179,119. 0.82% of the stock is currently owned by insiders.

L3Harris Technologies Price Performance

LHX opened at $245.26 on Thursday. The stock’s 50 day simple moving average is $245.66 and its 200 day simple moving average is $233.80. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87. L3Harris Technologies, Inc. has a 1 year low of $187.68 and a 1 year high of $265.74. The firm has a market cap of $46.52 billion, a price-to-earnings ratio of 38.75, a PEG ratio of 2.01 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.27 by $0.07. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The business had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same period last year, the company earned $3.19 EPS. L3Harris Technologies’s revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, analysts predict 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 given a $1.16 dividend. The ex-dividend date is Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.89%. L3Harris Technologies’s dividend payout ratio 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.