1ST Source Bank Sells 198 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

1ST Source Bank lowered its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 5.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,793 shares of the company’s stock after selling 198 shares during the quarter. 1ST Source Bank’s holdings in L3Harris Technologies were worth $852,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. RFG Advisory LLC lifted its stake in L3Harris Technologies by 3.1% in the second quarter. RFG Advisory LLC now owns 1,416 shares of the company’s stock valued at $318,000 after buying an additional 43 shares during the period. Optas LLC raised its position in shares of L3Harris Technologies by 3.3% in the 2nd quarter. Optas LLC now owns 1,381 shares of the company’s stock valued at $310,000 after acquiring an additional 44 shares during the period. Founders Financial Securities LLC grew its holdings in L3Harris Technologies by 2.8% during the second quarter. Founders Financial Securities LLC now owns 1,774 shares of the company’s stock valued at $398,000 after purchasing an additional 48 shares during the period. Whitener Capital Management Inc. grew its holdings in L3Harris Technologies by 3.0% during the second quarter. Whitener Capital Management Inc. now owns 1,715 shares of the company’s stock valued at $385,000 after purchasing an additional 50 shares during the period. Finally, Newman Dignan & Sheerar Inc. increased its stake in L3Harris Technologies by 0.6% in the second quarter. Newman Dignan & Sheerar Inc. now owns 8,888 shares of the company’s stock valued at $1,996,000 after purchasing an additional 55 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on LHX. Deutsche Bank Aktiengesellschaft lowered shares of L3Harris Technologies from a “buy” rating to a “hold” rating and boosted their price target for the company from $245.00 to $257.00 in a report on Friday, July 26th. Royal Bank of Canada downgraded L3Harris Technologies from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from $250.00 to $240.00 in a report on Wednesday, August 14th. Barclays lifted their price objective on L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Morgan Stanley downgraded shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $275.00 to $257.00 in a report on Friday, August 9th. Finally, Susquehanna upped their price target on shares of L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a report on Monday, July 29th. Five 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 company presently has a consensus rating of “Moderate Buy” and an average price target of $247.08.

L3Harris Technologies Stock Performance

Shares of NYSE LHX opened at $229.77 on Friday. The stock has a market capitalization of $43.58 billion, a PE ratio of 37.30, a price-to-earnings-growth ratio of 1.95 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 stock has a 50 day moving average price of $231.07 and a 200 day moving average price of $221.19. 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 released its 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 business had revenue of $5.30 billion during the quarter, compared to analysts’ expectations of $5.30 billion. During the same period last year, the business earned $2.97 earnings per share. The firm’s revenue was up 12.9% on a year-over-year basis. Analysts predict that L3Harris Technologies, Inc. will post 13.06 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company 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 $1.16 dividend. The ex-dividend date is Friday, September 6th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.02%. L3Harris Technologies’s payout ratio is 75.32%.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, VP Sean J. Stackley sold 3,354 shares of the business’s 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 transaction, the vice president now owns 14,186 shares of the company’s stock, valued at $3,074,531.78. The sale was disclosed in a document filed with the SEC, which is available through this link. In other L3Harris Technologies news, SVP Scott T. Mikuen sold 10,527 shares of the company’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $230.00, for a total value of $2,421,210.00. Following the transaction, the senior vice president now directly owns 47,616 shares in the company, valued at $10,951,680. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Sean J. Stackley sold 3,354 shares of the firm’s stock in a transaction dated 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 32,756 shares of company stock worth $7,588,767. Insiders own 0.82% of the company’s stock.

About L3Harris Technologies

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.