Archer Investment Corp Grows Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Archer Investment Corp boosted its position in L3Harris Technologies, Inc. (NYSE:LHX) by 48.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 131 shares of the company’s stock after buying an additional 43 shares during the period. Archer Investment Corp’s holdings in L3Harris Technologies were worth $31,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Meeder Asset Management Inc. grew its holdings in L3Harris Technologies by 260.6% during the second 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. Kennebec Savings Bank purchased a new position in shares of L3Harris Technologies in the 3rd quarter valued at about $36,000. EntryPoint Capital LLC lifted its stake in shares of L3Harris Technologies by 70.4% in the first quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock valued at $36,000 after purchasing an additional 69 shares during the period. Versant Capital Management Inc boosted its holdings in L3Harris Technologies by 77.7% during the second quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock worth $41,000 after buying an additional 80 shares in the last quarter. Finally, Family Firm Inc. acquired a new position in L3Harris Technologies during the second quarter worth about $45,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total transaction of $731,103.84. Following the completion of the transaction, the insider now directly owns 13,328 shares of the company’s stock, valued at approximately $3,261,095.04. This trade represents a 18.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders have sold 8,964 shares of company stock worth $2,179,119. Company insiders own 0.82% of the company’s stock.

Analyst Ratings Changes

LHX has been the subject of several research analyst reports. Royal Bank of Canada raised their price objective 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. Truist Financial lifted their price target on L3Harris Technologies from $293.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Citigroup increased their price objective on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Wolfe Research upgraded shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price for the company in a research report on Thursday, October 10th. Finally, StockNews.com upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, L3Harris Technologies has a consensus rating of “Moderate Buy” and an average price target of $267.50.

L3Harris Technologies Stock Performance

Shares of LHX stock opened at $247.00 on Friday. The firm has a market cap of $46.85 billion, a P/E ratio of 39.02, a PEG ratio of 2.18 and a beta of 0.72. 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 fifty-two week low of $184.34 and a fifty-two week high of $265.74. The stock’s 50-day moving average is $243.16 and its two-hundred day moving average is $232.02.

L3Harris Technologies (NYSE:LHX) last posted its 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. The firm had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.28 billion. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the business posted $3.19 earnings per share. Analysts predict that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently declared 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. This represents a $4.64 annualized dividend and a dividend yield of 1.88%. The ex-dividend date of this dividend is Monday, November 18th. L3Harris Technologies’s dividend payout ratio is currently 73.30%.

L3Harris Technologies Company 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.