Glass Wealth Management Co LLC Grows Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

by · The Markets Daily

Glass Wealth Management Co LLC boosted its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX – Free Report) by 3.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,265 shares of the company’s stock after purchasing an additional 605 shares during the quarter. L3Harris Technologies makes up 2.5% of Glass Wealth Management Co LLC’s investment portfolio, making the stock its 11th biggest holding. Glass Wealth Management Co LLC’s holdings in L3Harris Technologies were worth $4,583,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Meeder Asset Management Inc. increased its holdings in L3Harris Technologies by 260.6% in the second quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock valued at $27,000 after buying an additional 86 shares during the last quarter. Archer Investment Corp lifted its stake in L3Harris Technologies by 48.9% in the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after buying an additional 43 shares during the last quarter. Kennebec Savings Bank acquired a new stake in L3Harris Technologies during the 3rd quarter worth $36,000. EntryPoint Capital LLC boosted its stake in shares of L3Harris Technologies by 70.4% during the first quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock worth $36,000 after buying an additional 69 shares during the period. Finally, Versant Capital Management Inc increased its position in L3Harris Technologies by 77.7% in 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 during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Activity at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $247.93, for a total transaction of $740,814.84. Following the completion of the sale, the insider now directly owns 10,340 shares of the company’s stock, valued at $2,563,596.20. The trade was a 22.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last three months, insiders sold 8,964 shares of company stock worth $2,179,119. 0.82% of the stock is owned by company insiders.

Analysts Set New Price Targets

LHX has been the subject of several recent research reports. Royal Bank of Canada increased their price target on L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. StockNews.com upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. Citigroup boosted their price target on shares of L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Wolfe Research upgraded shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price on the stock in a research report on Thursday, October 10th. Finally, Bank of America upgraded shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and lifted their price target for the company from $240.00 to $300.00 in a research report on Thursday, October 31st. Four equities research 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $267.50.

Get Our Latest Stock Report on L3Harris Technologies

L3Harris Technologies Trading Down 0.5 %

Shares of LHX opened at $247.00 on Monday. L3Harris Technologies, Inc. has a fifty-two week low of $184.34 and a fifty-two week high of $265.74. The stock has a fifty day moving average of $243.16 and a two-hundred day moving average of $232.29. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04. The company has a market capitalization of $46.85 billion, a PE ratio of 39.02, a price-to-earnings-growth ratio of 2.06 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX – Get Free Report) last released its earnings results on Thursday, October 24th. The company reported $3.34 EPS for the quarter, beating the consensus estimate of $3.27 by $0.07. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The firm 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 firm posted $3.19 earnings per share. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. As a group, analysts forecast that L3Harris Technologies, Inc. will post 13.09 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be given a $1.16 dividend. The ex-dividend date is Monday, November 18th. This represents a $4.64 annualized dividend and a dividend yield of 1.88%. L3Harris Technologies’s dividend payout ratio is presently 73.30%.

About L3Harris Technologies

(Free Report)

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.

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