CWC Advisors LLC. Buys New Position in L3Harris Technologies, Inc. (NYSE:LHX)

CWC Advisors LLC. bought a new stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,543 shares of the company’s stock, valued at approximately $605,000.

Other large investors also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. lifted its holdings in shares of L3Harris Technologies by 260.6% in 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 in the last quarter. EntryPoint Capital LLC increased its position in L3Harris Technologies by 70.4% during the first quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock valued at $36,000 after acquiring an additional 69 shares during the last quarter. Versant Capital Management Inc increased its position in L3Harris Technologies by 77.7% during the second quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock valued at $41,000 after acquiring an additional 80 shares during the last quarter. Family Firm Inc. bought a new position in L3Harris Technologies during the second quarter valued at $45,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of L3Harris Technologies in the second quarter worth about $57,000. 84.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on LHX. Citigroup upped their price objective on shares of L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Truist Financial raised their target price on shares of L3Harris Technologies from $250.00 to $293.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Wolfe Research raised shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target for the company in a report on Thursday, October 10th. Susquehanna raised their target price on shares of L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a report on Monday, July 29th. Finally, Royal Bank of Canada cut shares of L3Harris Technologies from an “outperform” rating to a “sector perform” rating and reduced their target price for the stock from $250.00 to $240.00 in a report on Wednesday, August 14th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $256.71.

L3Harris Technologies Stock Performance

Shares of LHX opened at $252.66 on Friday. The company has a 50-day simple moving average of $236.59 and a 200-day simple moving average of $226.89. The company has a quick ratio of 0.74, a current ratio of 0.90 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $47.93 billion, a PE ratio of 40.43, a P/E/G ratio of 2.10 and a beta of 0.73. L3Harris Technologies, Inc. has a 52-week low of $169.55 and a 52-week high of $258.89.

L3Harris Technologies (NYSE:LHX) last issued 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. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The firm had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.28 billion. During the same period in the prior year, the company earned $3.19 EPS. The firm’s revenue was up 7.7% on a year-over-year basis. Equities research analysts predict that L3Harris Technologies, Inc. will post 13.06 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be issued a $1.16 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.64 annualized dividend and a yield of 1.84%. L3Harris Technologies’s payout ratio is 74.24%.

Insider Activity 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 shares were 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 in the company, valued at $3,261,095.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.82% of the stock is currently owned by insiders.

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.