L3Harris Technologies, Inc. (NYSE:LHX) Shares Purchased by Meeder Asset Management Inc.

Meeder Asset Management Inc. increased its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 260.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 119 shares of the company’s stock after purchasing an additional 86 shares during the quarter. Meeder Asset Management Inc.’s holdings in L3Harris Technologies were worth $27,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Transcendent Capital Group LLC acquired a new stake in L3Harris Technologies in the fourth quarter valued at $28,000. EntryPoint Capital LLC lifted its holdings in L3Harris Technologies by 70.4% in the first quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock valued at $36,000 after acquiring an additional 69 shares during the period. Versant Capital Management Inc lifted its holdings in L3Harris Technologies by 77.7% in the second quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock valued at $41,000 after acquiring an additional 80 shares during the period. Family Firm Inc. acquired a new stake in L3Harris Technologies in the second quarter valued at $45,000. Finally, Sachetta LLC acquired a new stake in L3Harris Technologies in the fourth quarter valued at $49,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on LHX. Barclays raised their target price on 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 downgraded L3Harris Technologies from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $250.00 to $240.00 in a report on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft cut L3Harris Technologies from a “buy” rating to a “hold” rating and raised their price target for the company from $245.00 to $257.00 in a research report on Friday, July 26th. Morgan Stanley cut L3Harris Technologies from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $275.00 to $257.00 in a research report on Friday, August 9th. Finally, Susquehanna raised their price target on L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research report on Monday, July 29th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, L3Harris Technologies has an average rating of “Moderate Buy” and an average target price of $247.08.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, SVP Scott T. Mikuen sold 10,527 shares of L3Harris Technologies stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $230.00, for a total value of $2,421,210.00. Following the completion of the sale, the senior vice president now owns 47,616 shares in the company, valued at approximately $10,951,680. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Scott T. Mikuen sold 15,887 shares of L3Harris Technologies stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $235.00, for a total value of $3,733,445.00. Following the transaction, the senior vice president now directly owns 47,616 shares of the company’s stock, valued at approximately $11,189,760. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Scott T. Mikuen sold 10,527 shares of L3Harris Technologies stock in a transaction dated 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 completion of the transaction, the senior vice president now directly owns 47,616 shares in the company, valued at $10,951,680. The disclosure for this sale can be found here. Insiders sold 29,402 shares of company stock worth $6,861,855 in the last 90 days. 0.82% of the stock is owned by company insiders.

L3Harris Technologies Trading Up 0.7 %

L3Harris Technologies stock opened at $229.77 on Monday. The stock has a market cap of $43.58 billion, a PE ratio of 37.30, a P/E/G ratio of 1.95 and a beta of 0.73. The stock has a 50-day moving average price of $231.07 and a 200 day moving average price of $221.25. L3Harris Technologies, Inc. has a 52 week low of $160.25 and a 52 week high of $245.60. The company has a current ratio of 0.90, a quick ratio of 0.74 and a debt-to-equity ratio of 0.56.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, July 25th. The company reported $3.24 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 13.02% and a net margin of 5.73%. The firm’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.97 EPS. Equities research analysts predict that L3Harris Technologies, Inc. will post 13.06 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be issued a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 2.02%. The ex-dividend date is Friday, September 6th. L3Harris Technologies’s dividend payout ratio (DPR) is 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.