Hohimer Wealth Management LLC Raises Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Hohimer Wealth Management LLC boosted its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 3.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,651 shares of the company’s stock after purchasing an additional 149 shares during the period. Hohimer Wealth Management LLC’s holdings in L3Harris Technologies were worth $1,106,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. KCM Investment Advisors LLC boosted its stake in shares of L3Harris Technologies by 43.8% in the third quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company’s stock worth $4,584,000 after buying an additional 5,868 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in L3Harris Technologies by 17.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 43,838 shares of the company’s stock worth $9,845,000 after purchasing an additional 6,634 shares in the last quarter. Creative Planning grew its stake in shares of L3Harris Technologies by 1.2% during the 3rd quarter. Creative Planning now owns 41,588 shares of the company’s stock worth $9,893,000 after purchasing an additional 512 shares during the period. Janney Montgomery Scott LLC purchased a new position in shares of L3Harris Technologies during the 3rd quarter valued at approximately $35,904,000. Finally, AdvisorNet Financial Inc lifted its stake in shares of L3Harris Technologies by 700.2% in the 2nd quarter. AdvisorNet Financial Inc now owns 3,353 shares of the company’s stock valued at $753,000 after purchasing an additional 2,934 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $244.68, for a total value of $731,103.84. Following the completion of the sale, the insider now owns 13,328 shares of the company’s stock, valued at $3,261,095.04. This represents a 18.31 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.82% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on LHX. Deutsche Bank Aktiengesellschaft dropped their price target on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a research report on Thursday, October 3rd. Citigroup lifted their price target on L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. StockNews.com upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Argus upgraded L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price objective for the company in a research report on Tuesday, November 26th. Finally, Wolfe Research raised L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price for the company in a research note on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $269.67.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $230.51 on Wednesday. The company has a market cap of $43.72 billion, a P/E ratio of 36.42, a P/E/G ratio of 1.96 and a beta of 0.72. L3Harris Technologies, Inc. has a twelve month low of $196.42 and a twelve month high of $265.74. The company’s 50-day moving average price is $246.53 and its 200-day moving average price is $234.82. 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 (NYSE:LHX) last released its earnings results on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, topping analysts’ consensus estimates of $3.27 by $0.07. The business 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 business’s revenue was up 7.7% on a year-over-year basis. During the same period last year, the company posted $3.19 EPS. On average, sell-side analysts forecast that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Monday, November 18th were issued a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 2.01%. The ex-dividend date was Monday, November 18th. L3Harris Technologies’s payout ratio is currently 73.30%.

L3Harris Technologies Profile

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.