L3Harris Technologies, Inc. (NYSE:LHX) Shares Purchased by Metis Global Partners LLC

Metis Global Partners LLC grew its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 1.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,061 shares of the company’s stock after acquiring an additional 91 shares during the period. Metis Global Partners LLC’s holdings in L3Harris Technologies were worth $1,442,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. lifted its position in shares of L3Harris Technologies by 260.6% during the second quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock worth $27,000 after purchasing an additional 86 shares during the last quarter. EntryPoint Capital LLC grew its position in shares of L3Harris Technologies by 70.4% in the 1st quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock worth $36,000 after acquiring an additional 69 shares in the last quarter. Kennebec Savings Bank bought a new stake in shares of L3Harris Technologies in the 3rd quarter valued at approximately $36,000. Versant Capital Management Inc raised its position in shares of L3Harris Technologies by 77.7% during the 2nd quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock valued at $41,000 after acquiring an additional 80 shares in the last quarter. Finally, Family Firm Inc. bought a new position in L3Harris Technologies during the second quarter worth $45,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total transaction of $731,103.84. Following the completion of the transaction, the insider now owns 13,328 shares of the company’s stock, valued at $3,261,095.04. This trade represents a 18.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In the last 90 days, insiders have sold 8,964 shares of company stock valued at $2,179,119. Corporate insiders own 0.82% of the company’s stock.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $247.00 on Friday. The firm’s 50-day simple moving average is $243.16 and its 200 day simple moving average is $232.02. The stock has a market cap of $46.85 billion, a P/E ratio of 39.02, a P/E/G ratio of 2.18 and a beta of 0.72. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. L3Harris Technologies, Inc. has a fifty-two week low of $184.34 and a fifty-two week high of $265.74.

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

L3Harris Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 1.88%. The ex-dividend date of this dividend is Monday, November 18th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 73.30%.

Analyst Ratings Changes

Several analysts have weighed in on LHX shares. Susquehanna boosted their target price on shares of L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research note on Monday, July 29th. Royal Bank of Canada increased their price objective on shares of L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a research note on Monday, October 28th. Wells Fargo & Company lifted their target price on L3Harris Technologies from $260.00 to $295.00 and gave the company an “overweight” rating in a research note 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. Finally, Barclays boosted their price objective on L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $267.50.

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.