L3Harris Technologies, Inc. (NYSE:LHX) Stake Raised by PFG Investments LLC

PFG Investments LLC raised its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 12.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,485 shares of the company’s stock after acquiring an additional 167 shares during the quarter. PFG Investments LLC’s holdings in L3Harris Technologies were worth $333,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Transcendent Capital Group LLC acquired a new position in L3Harris Technologies in the 4th quarter valued at approximately $28,000. EntryPoint Capital LLC grew its holdings in shares of L3Harris Technologies by 70.4% during the 1st quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock valued at $36,000 after acquiring an additional 69 shares in the last quarter. Versant Capital Management Inc raised its holdings in shares of L3Harris Technologies by 77.7% during the second quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock worth $41,000 after acquiring an additional 80 shares in the last quarter. Family Firm Inc. acquired a new stake in L3Harris Technologies during the second quarter valued at $45,000. Finally, Sachetta LLC purchased a new position in L3Harris Technologies in the fourth quarter valued at about $49,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Activity at L3Harris Technologies

In other news, VP Sean J. Stackley sold 3,354 shares of L3Harris Technologies stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $216.73, for a total transaction of $726,912.42. Following 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 Securities & Exchange Commission, which is available through the SEC website. In other news, VP Sean J. Stackley sold 3,354 shares of L3Harris Technologies stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $216.73, for a total transaction of $726,912.42. Following the sale, the vice president now directly owns 14,186 shares in the company, valued at approximately $3,074,531.78. The sale was disclosed in a document filed with the SEC, which is available 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 transaction of $2,421,210.00. Following the completion of the transaction, the senior vice president now directly owns 47,616 shares of the company’s stock, valued at approximately $10,951,680. The disclosure for this sale can be found here. Insiders have sold 32,756 shares of company stock worth $7,588,767 over the last three months. Company insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Morgan Stanley downgraded L3Harris Technologies from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $275.00 to $257.00 in a research note on Friday, August 9th. Wells Fargo & Company reduced their target price on shares of L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Royal Bank of Canada downgraded shares of L3Harris Technologies from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $250.00 to $240.00 in a research report on Wednesday, August 14th. Barclays raised their price target 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. Finally, Deutsche Bank Aktiengesellschaft cut shares of L3Harris Technologies from a “buy” rating to a “hold” rating and upped their price objective for the stock from $245.00 to $257.00 in a report on Friday, July 26th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, L3Harris Technologies presently has an average rating of “Moderate Buy” and an average price target of $247.08.

L3Harris Technologies Stock Up 0.5 %

Shares of LHX stock opened at $228.17 on Friday. L3Harris Technologies, Inc. has a 12 month low of $160.25 and a 12 month high of $245.60. 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 firm has a market cap of $43.28 billion, a PE ratio of 37.04, a price-to-earnings-growth ratio of 1.88 and a beta of 0.73. The stock has a 50 day moving average of $230.96 and a 200-day moving average of $221.00.

L3Harris Technologies (NYSE:LHX) last released 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. The firm had revenue of $5.30 billion during the quarter, compared to analysts’ expectations of $5.30 billion. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The business’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.97 EPS. On average, equities analysts predict that L3Harris Technologies, Inc. will post 13.06 EPS for the current year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be given a dividend of $1.16 per share. 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 presently 75.32%.

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.