Archer Investment Corp Has $31,000 Stake in L3Harris Technologies, Inc. (NYSE:LHX)

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

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in L3Harris Technologies by 12.9% during the first quarter. Vanguard Group Inc. now owns 22,792,779 shares of the company’s stock worth $4,857,141,000 after purchasing an additional 2,606,267 shares during the last quarter. Manning & Napier Advisors LLC acquired a new stake in shares of L3Harris Technologies in the 2nd quarter valued at about $210,886,000. Envestnet Asset Management Inc. raised its position in shares of L3Harris Technologies by 236.8% during the second quarter. Envestnet Asset Management Inc. now owns 989,340 shares of the company’s stock worth $222,186,000 after purchasing an additional 695,582 shares during the period. Bank of New York Mellon Corp increased its position in shares of L3Harris Technologies by 19.7% during the second quarter. Bank of New York Mellon Corp now owns 3,174,181 shares of the company’s stock worth $712,858,000 after acquiring an additional 523,315 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in L3Harris Technologies by 65.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 434,287 shares of the company’s stock valued at $97,532,000 after purchasing an additional 171,420 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Activity

In related news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction 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 completion of 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders have sold 8,964 shares of company stock valued at $2,179,119. 0.82% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Susquehanna upped their target price on shares of L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research note on Monday, July 29th. Bank of America upgraded L3Harris Technologies from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $240.00 to $300.00 in a research note on Thursday, October 31st. StockNews.com raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Citigroup raised their target price on L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, Barclays increased their price target on shares of L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $267.50.

L3Harris Technologies Trading Down 0.5 %

Shares of LHX stock opened at $247.00 on Friday. The business has a 50-day moving average price of $243.16 and a two-hundred day moving average price of $232.02. L3Harris Technologies, Inc. has a 12-month low of $184.34 and a 12-month high of $265.74. 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 $46.85 billion, a P/E ratio of 39.02, a price-to-earnings-growth ratio of 2.18 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, October 24th. The company reported $3.34 EPS for the quarter, beating analysts’ consensus estimates of $3.27 by $0.07. The business 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 quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the business earned $3.19 earnings per share. Equities analysts anticipate that L3Harris Technologies, Inc. will post 13.09 EPS 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. Shareholders of record on Monday, November 18th will be paid a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 1.88%. The ex-dividend date is Monday, November 18th. L3Harris Technologies’s dividend payout ratio is presently 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.