Valmark Advisers Inc. Purchases 560 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Valmark Advisers Inc. grew its position in L3Harris Technologies, Inc. (NYSE:LHX) by 13.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,760 shares of the company’s stock after acquiring an additional 560 shares during the period. Valmark Advisers Inc.’s holdings in L3Harris Technologies were worth $1,069,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Victory Capital Management Inc. lifted its position in L3Harris Technologies by 40.0% during the 4th quarter. Victory Capital Management Inc. now owns 106,231 shares of the company’s stock worth $22,374,000 after buying an additional 30,358 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of L3Harris Technologies during the fourth quarter worth approximately $205,000. Summit Global Investments acquired a new stake in shares of L3Harris Technologies in the fourth quarter valued at approximately $398,000. Benjamin F. Edwards & Company Inc. raised its position in L3Harris Technologies by 48.2% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 4,673 shares of the company’s stock worth $984,000 after purchasing an additional 1,519 shares during the last quarter. Finally, 9258 Wealth Management LLC lifted its holdings in L3Harris Technologies by 20.0% during the 4th quarter. 9258 Wealth Management LLC now owns 4,371 shares of the company’s stock worth $921,000 after buying an additional 727 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Wells Fargo & Company cut their price target on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Morgan Stanley lowered shares of 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. Royal Bank of Canada lowered shares of L3Harris Technologies from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $250.00 to $240.00 in a report on Wednesday, August 14th. Barclays lifted their price target on shares of L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Finally, Susquehanna upped their price objective on shares of L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research report on Monday, July 29th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, L3Harris Technologies has an average rating of “Moderate Buy” and an average price target of $247.08.

Insiders Place Their Bets

In related news, VP Sean J. Stackley sold 3,354 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $216.73, for a total value of $726,912.42. Following the completion of the sale, the vice president now directly owns 14,186 shares in the company, valued at $3,074,531.78. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, SVP Scott T. Mikuen sold 15,887 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was 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 of the company’s stock, valued at $11,189,760. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Sean J. Stackley sold 3,354 shares of the stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $216.73, for a total transaction of $726,912.42. Following the completion of the transaction, the vice president now directly owns 14,186 shares of the company’s stock, valued at approximately $3,074,531.78. The disclosure for this sale can be found here. Insiders have sold a total of 59,312 shares of company stock worth $13,523,822 in the last quarter. Corporate insiders own 0.82% of the company’s stock.

L3Harris Technologies Stock Performance

Shares of LHX stock opened at $236.67 on Monday. The company has a market capitalization of $44.90 billion, a price-to-earnings ratio of 38.42, a PEG ratio of 1.96 and a beta of 0.72. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.74 and a current ratio of 0.90. L3Harris Technologies, Inc. has a 52 week low of $160.25 and a 52 week high of $245.60. The company has a 50-day simple moving average of $229.66 and a 200 day simple moving average of $219.95.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, July 25th. The company reported $3.24 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $5.30 billion. During the same period last year, the firm posted $2.97 EPS. The firm’s revenue for the quarter was up 12.9% compared to the same quarter last year. On average, sell-side analysts predict that L3Harris Technologies, Inc. will post 13.06 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be paid a $1.16 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $4.64 annualized dividend and a dividend yield of 1.96%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 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.