Choreo LLC Purchases New Position in L3Harris Technologies, Inc. (NYSE:LHX)

Choreo LLC purchased a new stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 4,298 shares of the company’s stock, valued at approximately $955,000.

Several other institutional investors and hedge funds have also bought and sold shares of LHX. Transcendent Capital Group LLC bought a new position in shares of L3Harris Technologies during the fourth quarter valued at approximately $28,000. EntryPoint Capital LLC raised its holdings in 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 purchasing an additional 69 shares in the last quarter. Versant Capital Management Inc boosted its stake 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 purchasing an additional 80 shares in the last quarter. Family Firm Inc. bought a new position in L3Harris Technologies in the second quarter worth about $45,000. Finally, Sachetta LLC purchased a new stake in L3Harris Technologies in the fourth quarter worth about $49,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Trading Up 0.5 %

NYSE:LHX opened at $228.17 on Friday. The stock has a market cap of $43.28 billion, a price-to-earnings ratio of 37.04, a PEG ratio of 1.88 and a beta of 0.73. 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 company’s 50 day moving average price is $230.96 and its 200-day moving average price is $221.00. L3Harris Technologies, Inc. has a 52 week low of $160.25 and a 52 week high of $245.60.

L3Harris Technologies (NYSE:LHX) last issued 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 for the quarter, compared to the consensus estimate of $5.30 billion. During the same period last year, the business posted $2.97 EPS. The company’s revenue was up 12.9% compared to the same quarter last year. On average, equities research analysts forecast that L3Harris Technologies, Inc. will post 13.06 earnings per share for the current fiscal 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 $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend is Friday, September 6th. L3Harris Technologies’s dividend payout ratio (DPR) is 75.32%.

Analyst Ratings Changes

A number of research firms have weighed in on LHX. Morgan Stanley downgraded L3Harris Technologies from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $275.00 to $257.00 in a report on Friday, August 9th. Wells Fargo & Company decreased their price objective on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Barclays boosted their target price on shares of L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. 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 stock from $250.00 to $240.00 in a research note on Wednesday, August 14th. Finally, Susquehanna boosted their price objective on shares of L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research note on Monday, July 29th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $247.08.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of the business’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 transaction of $707,199.84. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Sean J. Stackley sold 3,354 shares of the business’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $216.73, for a total transaction of $726,912.42. Following the completion of the sale, the vice president now owns 14,186 shares of the company’s stock, valued at approximately $3,074,531.78. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $236.68, for a total value of $707,199.84. Following the completion of the transaction, the insider now directly owns 16,316 shares in the company, valued at $3,861,670.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,756 shares of company stock worth $7,588,767. Company 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.