L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by HBK Sorce Advisory LLC

HBK Sorce Advisory LLC lowered its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 6.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,322 shares of the company’s stock after selling 168 shares during the quarter. HBK Sorce Advisory LLC’s holdings in L3Harris Technologies were worth $522,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Meeder Asset Management Inc. boosted its holdings in shares of L3Harris Technologies by 260.6% during the second quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock worth $27,000 after purchasing an additional 86 shares during the last quarter. Transcendent Capital Group LLC purchased a new position in L3Harris Technologies during the fourth quarter worth about $28,000. EntryPoint Capital LLC lifted its position in L3Harris Technologies by 70.4% during the first quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock worth $36,000 after buying an additional 69 shares during the period. Versant Capital Management Inc boosted its stake in L3Harris Technologies by 77.7% in the 2nd quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock worth $41,000 after buying an additional 80 shares during the last quarter. Finally, Family Firm Inc. purchased a new stake in L3Harris Technologies in the 2nd quarter valued at about $45,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LHX has been the topic of several research analyst reports. Royal Bank of Canada cut 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 lifted 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. Susquehanna upped their price objective on L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft cut L3Harris Technologies from a “buy” rating to a “hold” rating and lifted their target price for the company from $245.00 to $257.00 in a report on Friday, July 26th. Finally, Wells Fargo & Company cut their price objective on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, L3Harris Technologies has an average rating of “Moderate Buy” and an average price target of $247.08.

Insider Activity

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 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 Securities & Exchange Commission, which is available at the SEC website. In other L3Harris Technologies news, VP Sean J. Stackley sold 3,354 shares of the company’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 value of $726,912.42. Following the transaction, 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 filing with the SEC, which is accessible through the SEC website. Also, 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 transaction, the insider now owns 16,316 shares of the company’s stock, valued at $3,861,670.88. The disclosure for this sale can be found here. Insiders sold 32,756 shares of company stock worth $7,588,767 over the last ninety days. Corporate insiders own 0.82% of the company’s stock.

L3Harris Technologies Stock Performance

L3Harris Technologies stock opened at $229.77 on Friday. The firm 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 one year low of $160.25 and a one year high of $245.60. The stock’s 50 day moving average price is $231.07 and its 200 day moving average price is $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 posted its earnings results on Thursday, July 25th. The company reported $3.24 EPS for the quarter, topping analysts’ consensus estimates of $3.18 by $0.06. The business had revenue of $5.30 billion for 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 revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period in the previous year, the company posted $2.97 earnings per share. As a group, sell-side analysts expect that L3Harris Technologies, Inc. will post 13.06 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

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