L3Harris Technologies, Inc. (NYSE:LHX) Stake Reduced by Crestwood Advisors Group LLC

Crestwood Advisors Group LLC reduced its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 50.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,586 shares of the company’s stock after selling 1,590 shares during the quarter. Crestwood Advisors Group LLC’s holdings in L3Harris Technologies were worth $356,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in LHX. Capital World Investors grew its stake in L3Harris Technologies by 26.0% during the 4th quarter. Capital World Investors now owns 16,056,272 shares of the company’s stock worth $3,381,784,000 after buying an additional 3,308,506 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of L3Harris Technologies by 15.4% in the fourth quarter. Vanguard Group Inc. now owns 20,186,512 shares of the company’s stock worth $4,251,683,000 after purchasing an additional 2,692,771 shares in the last quarter. Mizuho Markets Americas LLC grew its stake in shares of L3Harris Technologies by 990.3% in the fourth quarter. Mizuho Markets Americas LLC now owns 2,204,675 shares of the company’s stock worth $464,349,000 after purchasing an additional 2,002,475 shares in the last quarter. Norges Bank bought a new position in shares of L3Harris Technologies in the fourth quarter worth $325,147,000. Finally, Wellington Management Group LLP grew its stake in shares of L3Harris Technologies by 34.7% in the fourth quarter. Wellington Management Group LLP now owns 4,416,904 shares of the company’s stock worth $930,288,000 after purchasing an additional 1,138,549 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on LHX. Morgan Stanley cut L3Harris Technologies from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $275.00 to $257.00 in a research note on Friday, August 9th. Barclays increased their price target 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 increased their price target on L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research note on Monday, July 29th. Wells Fargo & Company decreased their price target on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft cut L3Harris Technologies from a “buy” rating to a “hold” rating and increased their price target for the stock from $245.00 to $257.00 in a research note on Friday, July 26th. 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.com, L3Harris Technologies has a consensus rating of “Moderate Buy” and an average target price of $247.08.

L3Harris Technologies Trading Down 0.6 %

Shares of NYSE LHX opened at $235.28 on Wednesday. L3Harris Technologies, Inc. has a 12 month low of $160.25 and a 12 month high of $245.60. The company has a market cap of $44.63 billion, a price-to-earnings ratio of 38.19, a P/E/G ratio of 1.96 and a beta of 0.72. The company has a quick ratio of 0.74, a current ratio of 0.90 and a debt-to-equity ratio of 0.56. The business has a fifty day simple moving average of $230.10 and a 200-day simple moving average of $220.29.

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

L3Harris Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be issued a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Friday, September 6th. L3Harris Technologies’s dividend payout ratio is 75.32%.

Insider Buying and Selling

In related news, 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 value of $726,912.42. Following the completion of the sale, the vice president now directly owns 14,186 shares of the company’s stock, valued at approximately $3,074,531.78. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, 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 value of $726,912.42. Following the completion of the sale, the vice president now directly owns 14,186 shares of the company’s stock, valued at approximately $3,074,531.78. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Scott T. Mikuen sold 10,527 shares of the stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $230.00, for a total value of $2,421,210.00. Following the completion of the sale, the senior vice president now directly owns 47,616 shares of the company’s stock, valued at $10,951,680. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,122 shares of company stock valued at $7,612,739. Corporate insiders own 0.82% of the company’s stock.

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.