Wedbush Securities Inc. Purchases 2,071 Shares of L3Harris Technologies Inc $LHX

Wedbush Securities Inc. grew its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 83.7% in the third quarter, Holdings Channel reports. The fund owned 4,544 shares of the company’s stock after buying an additional 2,071 shares during the quarter. Wedbush Securities Inc.’s holdings in L3Harris Technologies were worth $1,388,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of LHX. Twin Lakes Capital Management LLC grew its stake in shares of L3Harris Technologies by 0.3% in the 3rd quarter. Twin Lakes Capital Management LLC now owns 14,340 shares of the company’s stock worth $4,380,000 after buying an additional 38 shares in the last quarter. Fidelis Capital Partners LLC lifted its holdings in shares of L3Harris Technologies by 2.2% in the 2nd quarter. Fidelis Capital Partners LLC now owns 1,781 shares of the company’s stock valued at $493,000 after acquiring an additional 39 shares during the last quarter. Patrick M Sweeney & Associates Inc. lifted its holdings in shares of L3Harris Technologies by 3.8% in the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 1,095 shares of the company’s stock valued at $280,000 after acquiring an additional 40 shares during the last quarter. Deseret Mutual Benefit Administrators increased its stake in L3Harris Technologies by 3.9% during the third quarter. Deseret Mutual Benefit Administrators now owns 1,085 shares of the company’s stock worth $331,000 after acquiring an additional 41 shares during the last quarter. Finally, Riverbend Wealth Management LLC raised its position in L3Harris Technologies by 4.3% during the second quarter. Riverbend Wealth Management LLC now owns 1,027 shares of the company’s stock valued at $258,000 after purchasing an additional 42 shares during the period. Institutional investors own 84.76% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on LHX. Truist Financial set a $364.00 target price on L3Harris Technologies in a report on Wednesday, January 14th. BNP Paribas Exane upgraded L3Harris Technologies to a “hold” rating in a research report on Tuesday, November 18th. UBS Group boosted their price objective on shares of L3Harris Technologies to $323.00 and gave the company a “neutral” rating in a research report on Wednesday, January 14th. Morgan Stanley lifted their price target on shares of L3Harris Technologies from $367.00 to $390.00 and gave the stock an “overweight” rating in a research note on Monday, February 2nd. Finally, TD Cowen reissued a “buy” rating on shares of L3Harris Technologies in a research report on Monday, January 5th. Fifteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $328.57.

L3Harris Technologies Stock Performance

L3Harris Technologies stock opened at $345.07 on Friday. 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 $64.55 billion, a PE ratio of 40.45, a P/E/G ratio of 2.45 and a beta of 0.64. The company has a 50 day moving average price of $321.69 and a 200-day moving average price of $296.77. L3Harris Technologies Inc has a fifty-two week low of $193.09 and a fifty-two week high of $369.59.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, January 29th. The company reported $2.86 EPS for the quarter, topping 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 company had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.76 billion. During the same period last year, the business posted $3.47 EPS. L3Harris Technologies’s quarterly revenue was up 2.3% on a year-over-year basis. As a group, equities analysts forecast that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

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

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, insider Samir Mehta sold 4,840 shares of the stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $338.85, for a total transaction of $1,640,034.00. Following the transaction, the insider directly owned 5,916 shares in the company, valued at $2,004,636.60. This represents a 45.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.72% of the stock is currently owned by insiders.

About L3Harris Technologies

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.