International Assets Investment Management LLC Purchases Shares of 719 L3Harris Technologies, Inc. (NYSE:LHX)

International Assets Investment Management LLC acquired a new position in L3Harris Technologies, Inc. (NYSE:LHX) during the second quarter, HoldingsChannel reports. The institutional investor acquired 719 shares of the company’s stock, valued at approximately $161,000.

Several other hedge funds have also modified their holdings of the company. Bfsg LLC bought a new stake in L3Harris Technologies in the first quarter worth $25,000. Transcendent Capital Group LLC bought a new stake in shares of L3Harris Technologies in the 4th quarter worth about $28,000. EntryPoint Capital LLC increased its holdings 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 buying an additional 69 shares during the last quarter. 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 buying an additional 80 shares in the last quarter. Finally, Family Firm Inc. bought a new position in shares of L3Harris Technologies in the 2nd quarter valued at about $45,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LHX has been the topic of several analyst reports. Morgan Stanley cut L3Harris Technologies from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $275.00 to $257.00 in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft downgraded L3Harris Technologies from a “buy” rating to a “hold” rating and boosted their target price for the company from $245.00 to $257.00 in a research report on Friday, July 26th. Susquehanna raised their price target on L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research report on Monday, July 29th. Barclays boosted their price objective on shares of L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Finally, Royal Bank of Canada lowered shares of L3Harris Technologies from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $250.00 to $240.00 in a report on Wednesday, August 14th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $247.08.

Insider Buying and Selling at L3Harris Technologies

In other news, SVP Scott T. Mikuen sold 15,887 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $235.00, for a total transaction of $3,733,445.00. Following the transaction, the senior vice president now directly owns 47,616 shares in the company, valued at $11,189,760. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, SVP Scott T. Mikuen sold 10,527 shares of the company’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $230.00, for a total transaction of $2,421,210.00. Following the completion of the sale, the senior vice president now directly owns 47,616 shares in the company, valued at approximately $10,951,680. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Scott T. Mikuen sold 15,887 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $235.00, for a total value of $3,733,445.00. Following the sale, the senior vice president now directly owns 47,616 shares in the company, valued at approximately $11,189,760. The disclosure for this sale can be found here. In the last quarter, insiders have sold 59,312 shares of company stock valued at $13,523,822. Company insiders own 0.82% of the company’s stock.

L3Harris Technologies Stock Performance

L3Harris Technologies stock opened at $236.67 on Monday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.74 and a current ratio of 0.90. The company has a market capitalization of $44.90 billion, a PE ratio of 38.42, a P/E/G ratio of 1.96 and a beta of 0.72. The company has a 50 day moving average price of $229.66 and a 200-day moving average price of $219.95. L3Harris Technologies, Inc. has a fifty-two week low of $160.25 and a fifty-two week high of $245.60.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, July 25th. The company reported $3.24 earnings per share for the quarter, beating analysts’ consensus estimates of $3.18 by $0.06. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The business had revenue of $5.30 billion during the quarter, compared to analyst estimates of $5.30 billion. During the same period in the previous year, the company posted $2.97 EPS. L3Harris Technologies’s revenue was up 12.9% on a year-over-year basis. As a group, equities analysts forecast that L3Harris Technologies, Inc. will post 13.06 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date is Friday, September 6th. L3Harris Technologies’s dividend payout ratio (DPR) is 75.32%.

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.