Penserra Capital Management LLC Boosts Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Penserra Capital Management LLC lifted its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 1.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,445 shares of the company’s stock after buying an additional 63 shares during the period. Penserra Capital Management LLC’s holdings in L3Harris Technologies were worth $818,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. OneDigital Investment Advisors LLC boosted its position in L3Harris Technologies by 0.5% during the third quarter. OneDigital Investment Advisors LLC now owns 7,915 shares of the company’s stock valued at $1,883,000 after buying an additional 40 shares during the period. Koshinski Asset Management Inc. boosted its holdings in L3Harris Technologies by 2.7% during the 3rd quarter. Koshinski Asset Management Inc. now owns 1,620 shares of the company’s stock valued at $385,000 after acquiring an additional 42 shares during the period. RFG Advisory LLC grew its position in L3Harris Technologies by 3.1% during the 2nd quarter. RFG Advisory LLC now owns 1,416 shares of the company’s stock worth $318,000 after acquiring an additional 43 shares during the last quarter. Blossom Wealth Management increased its stake in L3Harris Technologies by 1.7% in the 3rd quarter. Blossom Wealth Management now owns 2,538 shares of the company’s stock worth $604,000 after purchasing an additional 43 shares during the period. Finally, Nicholas Hoffman & Company LLC. lifted its position in L3Harris Technologies by 3.3% in the third quarter. Nicholas Hoffman & Company LLC. now owns 1,353 shares of the company’s stock valued at $322,000 after purchasing an additional 43 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 13,328 shares of the company’s stock, valued at approximately $3,261,095.04. The trade was a 18.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders have sold 8,964 shares of company stock valued at $2,179,119. 0.82% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on LHX shares. Truist Financial boosted their price objective on shares of L3Harris Technologies from $293.00 to $300.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Royal Bank of Canada upped their price target on L3Harris Technologies from $240.00 to $265.00 and gave the company a “sector perform” rating in a research report on Monday, October 28th. StockNews.com upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Deutsche Bank Aktiengesellschaft decreased their target price on L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. Finally, Bank of America upgraded shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and lifted their price target for the company from $240.00 to $300.00 in a report on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, L3Harris Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $269.67.

L3Harris Technologies Price Performance

Shares of LHX opened at $245.26 on Thursday. The firm’s 50-day simple moving average is $245.66 and its two-hundred day simple moving average is $233.80. L3Harris Technologies, Inc. has a fifty-two week low of $187.68 and a fifty-two week high of $265.74. The stock has a market cap of $46.52 billion, a PE ratio of 38.75, a price-to-earnings-growth ratio of 2.01 and a beta of 0.72. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.27 by $0.07. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The firm had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.28 billion. During the same quarter in the previous year, the firm earned $3.19 EPS. L3Harris Technologies’s quarterly revenue was up 7.7% compared to the same quarter last year. Analysts anticipate that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a yield of 1.89%. 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.