L3Harris Technologies, Inc. (NYSE:LHX) Shares Bought by KCM Investment Advisors LLC

KCM Investment Advisors LLC grew its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 43.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,273 shares of the company's stock after acquiring an additional 5,868 shares during the quarter. KCM Investment Advisors LLC's holdings in L3Harris Technologies were worth $4,584,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. QRG Capital Management Inc. increased its holdings in shares of L3Harris Technologies by 6.3% in the 1st quarter. QRG Capital Management Inc. now owns 2,431 shares of the company's stock valued at $518,000 after acquiring an additional 145 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of L3Harris Technologies in the first quarter worth $228,000. Kingsview Wealth Management LLC lifted its position in shares of L3Harris Technologies by 9.5% in the first quarter. Kingsview Wealth Management LLC now owns 3,687 shares of the company's stock worth $786,000 after purchasing an additional 319 shares in the last quarter. HBK Sorce Advisory LLC boosted its position in L3Harris Technologies by 18.6% during the first quarter. HBK Sorce Advisory LLC now owns 2,490 shares of the company's stock valued at $531,000 after purchasing an additional 391 shares during the last quarter. Finally, Blair William & Co. IL raised its holdings in shares of L3Harris Technologies by 16.5% during the 1st quarter. Blair William & Co. IL now owns 30,025 shares of the company's stock valued at $6,398,000 after purchasing an additional 4,245 shares in the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total value of $731,103.84. Following the completion of the transaction, the insider now directly owns 13,328 shares of the company's stock, valued at approximately $3,261,095.04. This represents a 18.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders sold 8,964 shares of company stock worth $2,179,119. Insiders own 0.82% of the company's stock.

L3Harris Technologies Stock Down 0.5 %

Shares of NYSE LHX traded down $1.16 during trading on Friday, reaching $247.00. The company had a trading volume of 1,907,782 shares, compared to its average volume of 912,291. L3Harris Technologies, Inc. has a 12-month low of $184.34 and a 12-month high of $265.74. The business's 50-day moving average is $242.77 and its 200 day moving average is $231.81. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The stock has a market cap of $46.85 billion, a PE ratio of 39.05, a P/E/G ratio of 2.18 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 earnings per share for the quarter, beating analysts' consensus estimates of $3.27 by $0.07. The company had revenue of $5.29 billion for the quarter, compared to analysts' expectations of $5.28 billion. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. L3Harris Technologies's revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.19 EPS. As a group, equities analysts forecast that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

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 issued a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date is Monday, November 18th. L3Harris Technologies's dividend payout ratio is currently 73.30%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on LHX shares. Morgan Stanley lowered L3Harris Technologies from an "overweight" rating to an "equal weight" rating and decreased their price objective for the stock from $275.00 to $257.00 in a report on Friday, August 9th. Bank of America raised L3Harris Technologies from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $240.00 to $300.00 in a report on Thursday, October 31st. Susquehanna lifted their price objective on L3Harris Technologies from $260.00 to $270.00 and gave the stock a "positive" rating in a research note on Monday, July 29th. Citigroup boosted their price target on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a "buy" rating in a report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of L3Harris Technologies from $252.00 to $250.00 and set a "hold" rating on the stock in a research report on Thursday, October 3rd. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, L3Harris Technologies has an average 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.