L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by FineMark National Bank & Trust

FineMark National Bank & Trust trimmed its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 3.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,112 shares of the company’s stock after selling 273 shares during the period. FineMark National Bank & Trust’s holdings in L3Harris Technologies were worth $1,597,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of LHX. Boston Partners boosted its position in shares of L3Harris Technologies by 107.2% during the fourth quarter. Boston Partners now owns 813,558 shares of the company’s stock worth $171,343,000 after buying an additional 420,943 shares during the period. Victory Capital Management Inc. grew its stake 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. Stifel Financial Corp increased its holdings in shares of L3Harris Technologies by 3.9% during the fourth quarter. Stifel Financial Corp now owns 175,895 shares of the company’s stock valued at $37,057,000 after purchasing an additional 6,675 shares during the period. Scout Investments Inc. raised its stake in shares of L3Harris Technologies by 59.4% during the fourth quarter. Scout Investments Inc. now owns 36,025 shares of the company’s stock valued at $7,588,000 after purchasing an additional 13,423 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in 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 during the period. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Down 1.7 %

LHX stock opened at $232.52 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.90 and a quick ratio of 0.74. The firm has a market capitalization of $44.10 billion, a P/E ratio of 37.75, a P/E/G ratio of 1.96 and a beta of 0.73. L3Harris Technologies, Inc. has a 52-week low of $160.25 and a 52-week high of $245.60. The company’s 50 day simple moving average is $230.55 and its 200-day simple moving average is $220.49.

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

L3Harris Technologies Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, September 6th. This represents a $4.64 dividend on an annualized basis and a yield of 2.00%. L3Harris Technologies’s payout ratio is presently 75.32%.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $236.68, for a total value of $707,199.84. Following the completion of the sale, the insider now directly owns 16,316 shares of the company’s stock, valued at $3,861,670.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $236.68, for a total value of $707,199.84. Following the transaction, the insider now owns 16,316 shares in the company, valued at approximately $3,861,670.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Scott T. Mikuen sold 15,887 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $235.00, for a total transaction of $3,733,445.00. Following the completion of the sale, the senior vice president now owns 47,616 shares of the company’s stock, valued at approximately $11,189,760. The disclosure for this sale can be found here. Insiders have sold a total of 36,110 shares of company stock valued at $8,319,939 in the last 90 days. 0.82% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on LHX shares. Deutsche Bank Aktiengesellschaft lowered shares of L3Harris Technologies from a “buy” rating to a “hold” rating and upped their price target for the stock from $245.00 to $257.00 in a research note on Friday, July 26th. Susquehanna upped their target price on L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research report on Monday, July 29th. Wells Fargo & Company lowered their price target on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Royal Bank of Canada lowered L3Harris Technologies from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $250.00 to $240.00 in a report on Wednesday, August 14th. Finally, Morgan Stanley lowered L3Harris Technologies from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $275.00 to $257.00 in a report on Friday, August 9th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $247.08.

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.