Kingsview Wealth Management LLC lifted its position in L3Harris Technologies, Inc. (NYSE:LHX – Get Rating) by 19.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 4,308 shares of the company’s stock after purchasing an additional 695 shares during the period. Kingsview Wealth Management LLC’s holdings in L3Harris Technologies were worth $895,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently modified their holdings of the company. LVW Advisors LLC lifted its position in L3Harris Technologies by 1.5% during the third quarter. LVW Advisors LLC now owns 13,688 shares of the company’s stock valued at $2,845,000 after purchasing an additional 203 shares in the last quarter. Greenleaf Trust lifted its position in L3Harris Technologies by 16.3% during the third quarter. Greenleaf Trust now owns 3,595 shares of the company’s stock valued at $747,000 after purchasing an additional 503 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in L3Harris Technologies by 1.8% during the third quarter. Envestnet Asset Management Inc. now owns 297,593 shares of the company’s stock valued at $61,849,000 after purchasing an additional 5,303 shares in the last quarter. Brighton Jones LLC lifted its position in L3Harris Technologies by 15.4% during the third quarter. Brighton Jones LLC now owns 1,186 shares of the company’s stock valued at $246,000 after purchasing an additional 158 shares in the last quarter. Finally, J.W. Cole Advisors Inc. lifted its position in L3Harris Technologies by 7.6% during the third quarter. J.W. Cole Advisors Inc. now owns 1,333 shares of the company’s stock valued at $277,000 after purchasing an additional 94 shares in the last quarter. 82.18% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several research firms recently weighed in on LHX. Citigroup began coverage on L3Harris Technologies in a research report on Thursday, December 8th. They set a “neutral” rating and a $250.00 target price on the stock. Truist Financial lowered their price objective on L3Harris Technologies from $264.00 to $255.00 and set a “buy” rating on the stock in a research report on Monday, January 30th. TheStreet downgraded L3Harris Technologies from a “b-” rating to a “c+” rating in a research report on Tuesday, November 22nd. Susquehanna boosted their price objective on L3Harris Technologies from $265.00 to $270.00 and gave the company a “positive” rating in a research report on Monday, January 30th. Finally, Robert W. Baird downgraded L3Harris Technologies from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $290.00 to $241.00 in a research report on Monday, December 19th. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $259.46.
L3Harris Technologies Trading Up 0.6 %
L3Harris Technologies (NYSE:LHX – Get Rating) last issued its quarterly earnings data on Friday, January 27th. The company reported $3.27 earnings per share for the quarter, topping the consensus estimate of $3.21 by $0.06. L3Harris Technologies had a return on equity of 13.20% and a net margin of 6.22%. The company had revenue of $4.58 billion for the quarter, compared to analysts’ expectations of $4.36 billion. During the same period in the previous year, the firm posted $3.30 earnings per share. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, research analysts expect that L3Harris Technologies, Inc. will post 12.32 EPS for the current year.
L3Harris Technologies Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 24th. Stockholders of record on Friday, March 10th will be paid a dividend of $1.14 per share. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.12. The ex-dividend date of this dividend is Thursday, March 9th. This represents a $4.56 dividend on an annualized basis and a dividend yield of 2.25%. L3Harris Technologies’s dividend payout ratio is currently 83.36%.
About L3Harris Technologies
L3Harris Technologies, Inc engages in the provision of defense and commercial technologies across the air, land, sea, space, and cyber domains. It operates through the following segments: Integrated Mission Systems, Space and Airborne Systems, Communication Systems, and Aviation Systems. The Integrated Mission Systems segment consists of multi-mission ISR and communication systems, integrated electrical and electronic systems for maritime platforms, and advanced electro-optical and infrared solutions.
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