Rafferty Asset Management LLC Raises Stock Holdings in L3Harris Technologies Inc $LHX

Rafferty Asset Management LLC increased its holdings in L3Harris Technologies Inc (NYSE:LHX) by 3.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,197 shares of the company’s stock after acquiring an additional 1,937 shares during the quarter. Rafferty Asset Management LLC’s holdings in L3Harris Technologies were worth $16,247,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC increased its stake in L3Harris Technologies by 233.9% during the 4th quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock valued at $901,000 after purchasing an additional 3,001 shares in the last quarter. Premier Path Wealth Partners LLC increased its position in L3Harris Technologies by 16.5% during the second quarter. Premier Path Wealth Partners LLC now owns 1,660 shares of the company’s stock valued at $417,000 after acquiring an additional 235 shares during the last quarter. Savvy Advisors Inc. boosted its position in L3Harris Technologies by 22.1% in the second quarter. Savvy Advisors Inc. now owns 2,917 shares of the company’s stock worth $732,000 after purchasing an additional 527 shares during the last quarter. Atria Investments Inc boosted its position in L3Harris Technologies by 7.8% in the second quarter. Atria Investments Inc now owns 9,512 shares of the company’s stock worth $2,386,000 after purchasing an additional 685 shares during the last quarter. Finally, Simon Quick Advisors LLC grew its stake in shares of L3Harris Technologies by 17.7% during the 2nd quarter. Simon Quick Advisors LLC now owns 1,795 shares of the company’s stock valued at $450,000 after purchasing an additional 270 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Samir Mehta sold 4,840 shares of the stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $338.85, for a total transaction of $1,640,034.00. Following the completion of the transaction, the insider directly owned 5,916 shares in the company, valued at approximately $2,004,636.60. This represents a 45.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.72% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on LHX. BNP Paribas Exane raised shares of L3Harris Technologies to a “hold” rating in a report on Tuesday, November 18th. Morgan Stanley increased their price target on shares of L3Harris Technologies from $367.00 to $390.00 and gave the stock an “overweight” rating in a research report on Monday, February 2nd. Wolfe Research reissued an “outperform” rating on shares of L3Harris Technologies in a research report on Friday, January 30th. Sanford C. Bernstein restated an “outperform” rating on shares of L3Harris Technologies in a research note on Friday, February 6th. Finally, Citigroup lifted their target price on L3Harris Technologies from $389.00 to $418.00 and gave the company a “buy” rating in a research report on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $328.57.

L3Harris Technologies Trading Up 2.6%

Shares of L3Harris Technologies stock opened at $364.50 on Friday. L3Harris Technologies Inc has a fifty-two week low of $195.72 and a fifty-two week high of $369.59. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.19. The company has a market capitalization of $68.08 billion, a P/E ratio of 42.73, a P/E/G ratio of 2.63 and a beta of 0.64. The company has a fifty day moving average of $335.43 and a 200 day moving average of $302.43.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, January 29th. The company reported $2.86 EPS for the quarter, beating the consensus estimate of $2.76 by $0.10. L3Harris Technologies had a return on equity of 10.43% and a net margin of 7.35%.The business had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.76 billion. During the same period in the previous year, the business earned $3.47 earnings per share. The business’s revenue was up 2.3% on a year-over-year basis. On average, sell-side analysts anticipate that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be issued a dividend of $1.25 per share. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.20. The ex-dividend date of this dividend is Friday, March 6th. This represents a $5.00 dividend on an annualized basis and a yield of 1.4%. L3Harris Technologies’s payout ratio is 56.27%.

L3Harris Technologies Company Profile

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.