Waldron Private Wealth LLC Buys Shares of 1,003 L3Harris Technologies, Inc. (NYSE:LHX)

Waldron Private Wealth LLC bought a new position in shares of L3Harris Technologies, Inc. (NYSE:LHX) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 1,003 shares of the company’s stock, valued at approximately $225,000.

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

L3Harris Technologies Trading Up 1.3 %

Shares of L3Harris Technologies stock opened at $236.67 on Monday. L3Harris Technologies, Inc. has a 52 week low of $160.25 and a 52 week high of $245.60. The stock has a 50 day moving average price of $229.66 and a two-hundred day moving average price of $219.95. The stock has a market capitalization of $44.90 billion, a PE ratio of 38.42, a price-to-earnings-growth 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 (NYSE:LHX) last posted its quarterly earnings results on Thursday, July 25th. The company reported $3.24 earnings per share for the quarter, beating the consensus estimate of $3.18 by $0.06. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The company had revenue of $5.30 billion during the quarter, compared to analyst estimates of $5.30 billion. During the same quarter in the prior year, the business earned $2.97 earnings per share. The firm’s revenue for the quarter was up 12.9% on a year-over-year basis. As a group, equities analysts anticipate that L3Harris Technologies, Inc. will post 13.06 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be paid a dividend of $1.16 per share. The ex-dividend date is Friday, September 6th. This represents a $4.64 annualized dividend and a dividend yield of 1.96%. L3Harris Technologies’s payout ratio is 75.32%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on LHX. Royal Bank of Canada lowered shares of L3Harris Technologies from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $250.00 to $240.00 in a research note on Wednesday, August 14th. Barclays increased their target price on L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Susquehanna boosted their price target on L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating and upped their price target for the company from $245.00 to $257.00 in a research note on Friday, July 26th. Finally, Morgan Stanley lowered shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $275.00 to $257.00 in a report on Friday, August 9th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $247.08.

Insider Buying and Selling

In other L3Harris Technologies news, VP Sean J. Stackley sold 3,354 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $218.00, for a total transaction of $731,172.00. Following the completion of the transaction, the vice president now owns 17,540 shares in the company, valued at $3,823,720. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Sean J. Stackley sold 3,354 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $218.00, for a total value of $731,172.00. Following the completion of the transaction, the vice president now directly owns 17,540 shares of the company’s stock, valued at $3,823,720. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Christopher E. Kubasik sold 26,190 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $225.70, for a total transaction of $5,911,083.00. Following the completion of the transaction, the chief executive officer now directly owns 120,326 shares in the company, valued at approximately $27,157,578.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 59,312 shares of company stock valued at $13,523,822. 0.82% of the stock is owned by insiders.

L3Harris Technologies Company 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.