L3Harris Technologies Inc $LHX Shares Bought by Alliancebernstein L.P.

Alliancebernstein L.P. boosted its position in L3Harris Technologies Inc (NYSE:LHX) by 45.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 579,214 shares of the company’s stock after purchasing an additional 182,315 shares during the period. Alliancebernstein L.P. owned about 0.31% of L3Harris Technologies worth $176,898,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in LHX. Twin Lakes Capital Management LLC raised its position in shares of L3Harris Technologies by 0.3% during the 3rd quarter. Twin Lakes Capital Management LLC now owns 14,340 shares of the company’s stock worth $4,380,000 after purchasing an additional 38 shares during the last quarter. Patrick M Sweeney & Associates Inc. lifted its position in shares of L3Harris Technologies by 3.8% in the second 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 in the last quarter. Moment Partners LLC boosted its stake in shares of L3Harris Technologies by 1.6% during the third quarter. Moment Partners LLC now owns 2,501 shares of the company’s stock valued at $764,000 after acquiring an additional 40 shares during the last quarter. Catalyst Financial Partners LLC increased its position in L3Harris Technologies by 2.6% during the 3rd quarter. Catalyst Financial Partners LLC now owns 1,602 shares of the company’s stock worth $489,000 after purchasing an additional 40 shares in the last quarter. Finally, Deseret Mutual Benefit Administrators increased its position in L3Harris Technologies by 3.9% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,085 shares of the company’s stock worth $331,000 after purchasing an additional 41 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on LHX. Truist Financial set a $364.00 target price on shares of L3Harris Technologies in a report on Wednesday, January 14th. Morgan Stanley boosted their price objective on shares of L3Harris Technologies from $367.00 to $390.00 and gave the company an “overweight” rating in a research report on Monday, February 2nd. Sanford C. Bernstein reissued an “outperform” rating on shares of L3Harris Technologies in a research note on Friday, February 6th. JPMorgan Chase & Co. raised their target price on shares of L3Harris Technologies from $340.00 to $395.00 and gave the stock an “overweight” rating in a research report on Thursday, February 5th. Finally, Susquehanna reiterated a “positive” rating on shares of L3Harris Technologies in a report on Thursday, January 15th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, L3Harris Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $328.57.

L3Harris Technologies Stock Up 2.1%

LHX opened at $366.41 on Tuesday. The firm has a 50 day moving average price of $350.22 and a 200 day moving average price of $309.70. The company has a market cap of $68.44 billion, a PE ratio of 42.96, a price-to-earnings-growth ratio of 2.59 and a beta of 0.63. L3Harris Technologies Inc has a 1 year low of $195.72 and a 1 year high of $379.23. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.19.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, beating analysts’ consensus estimates of $2.76 by $0.10. L3Harris Technologies had a net margin of 7.35% and a return on equity of 10.43%. The firm had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.76 billion. During the same period in the previous year, the company posted $3.47 earnings per share. L3Harris Technologies’s revenue was up 2.3% compared to the same quarter last year. Sell-side analysts expect that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be given a dividend of $1.25 per share. This is a positive change 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 dividend payout ratio is currently 58.62%.

Insider Activity at L3Harris Technologies

In other news, insider Samir Mehta sold 5,528 shares of the stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $370.32, for a total value of $2,047,128.96. Following the completion of the sale, the insider owned 7,756 shares in the company, valued at approximately $2,872,201.92. This trade represents a 41.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jon Rambeau sold 5,528 shares of the firm’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $370.32, for a total value of $2,047,128.96. Following the sale, the insider owned 7,660 shares in the company, valued at approximately $2,836,651.20. The trade was a 41.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 19,025 shares of company stock worth $6,824,370. Corporate insiders own 0.72% of the company’s stock.

L3Harris Technologies 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.