Prospera Financial Services Inc grew its holdings in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 13.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,115 shares of the company's stock after acquiring an additional 5,185 shares during the period. Prospera Financial Services Inc's holdings in L3Harris Technologies were worth $10,257,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the business. Meeder Asset Management Inc. lifted its holdings in shares of 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 buying an additional 86 shares during the last quarter. Archer Investment Corp increased its holdings in shares of 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 during the period. 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 buying an additional 69 shares during the period. Kennebec Savings Bank bought a new position in L3Harris Technologies during the third quarter valued at about $36,000. Finally, Versant Capital Management Inc raised its holdings in L3Harris Technologies by 77.7% in the 2nd quarter. Versant Capital Management Inc now owns 183 shares of the company's stock valued at $41,000 after acquiring an additional 80 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company's stock.
A number of analysts have recently issued reports on the company. Barclays boosted their price objective on L3Harris Technologies from $245.00 to $265.00 and gave the company an "overweight" rating in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft cut their price target on shares of L3Harris Technologies from $252.00 to $250.00 and set a "hold" rating for the company in a research note on Thursday, October 3rd. Wells Fargo & Company boosted their price target on L3Harris Technologies from $260.00 to $295.00 and gave the company an "overweight" rating in a research note on Monday, October 28th. Bank of America upgraded L3Harris Technologies from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $240.00 to $300.00 in a research note on Thursday, October 31st. Finally, Truist Financial boosted their target price on shares of L3Harris Technologies from $293.00 to $300.00 and gave the company a "buy" rating in a research note on Monday, October 28th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $267.50.
Read Our Latest Research Report on L3Harris Technologies
In other news, insider Ross Niebergall sold 2,988 shares of the firm's stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total transaction of $731,103.84. Following the sale, the insider now owns 13,328 shares of the company's stock, valued at $3,261,095.04. This trade represents a 18.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders sold 8,964 shares of company stock worth $2,179,119. 0.87% of the stock is currently owned by company insiders.
Shares of LHX stock opened at $244.27 on Tuesday. L3Harris Technologies, Inc. has a 12 month low of $184.34 and a 12 month high of $265.74. The stock has a 50-day moving average price of $243.46 and a 200 day moving average price of $232.52. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The firm has a market cap of $46.33 billion, a price-to-earnings ratio of 38.59, a PEG ratio of 2.06 and a beta of 0.72.
L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.27 by $0.07. The firm had revenue of $5.29 billion for the quarter, compared to analysts' expectations 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 for the quarter was up 7.7% on a year-over-year basis. During the same period last year, the firm earned $3.19 earnings per share. Research analysts expect that L3Harris Technologies, Inc. will post 13.09 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be given a dividend of $1.16 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.64 annualized dividend and a dividend yield of 1.90%. L3Harris Technologies's payout ratio is currently 73.30%.
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.
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