Amalgamated Bank Sells 921 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Amalgamated Bank trimmed its position in L3Harris Technologies, Inc. (NYSE:LHX) by 2.4% during the second quarter, HoldingsChannel.com reports. The firm owned 38,206 shares of the company’s stock after selling 921 shares during the quarter. Amalgamated Bank’s holdings in L3Harris Technologies were worth $8,580,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of LHX. Meeder Asset Management Inc. lifted its stake in L3Harris Technologies by 260.6% in the 2nd quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock valued at $27,000 after acquiring an additional 86 shares in the last quarter. Transcendent Capital Group LLC bought a new stake in shares of L3Harris Technologies in the fourth quarter worth $28,000. EntryPoint Capital LLC boosted its holdings 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 purchasing an additional 69 shares during the last quarter. Versant Capital Management Inc grew its position 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 purchasing an additional 80 shares in the last quarter. Finally, Family Firm Inc. acquired a new stake in L3Harris Technologies in the 2nd quarter valued at $45,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $236.68, for a total transaction of $707,199.84. Following the completion of the sale, the insider now owns 16,316 shares of the company’s stock, valued at $3,861,670.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $236.68, for a total transaction of $707,199.84. Following 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 legal filing with the SEC, which is available through this hyperlink. Also, SVP Scott T. Mikuen sold 15,887 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $235.00, for a total transaction of $3,733,445.00. Following the completion of the sale, the senior vice president now directly owns 47,616 shares of the company’s stock, valued at approximately $11,189,760. The disclosure for this sale can be found here. Insiders have sold a total of 29,402 shares of company stock valued at $6,861,855 in the last ninety days. 0.82% of the stock is currently owned by corporate insiders.

L3Harris Technologies Stock Performance

NYSE LHX opened at $229.71 on Thursday. The stock has a market cap of $43.57 billion, a PE ratio of 37.29, a P/E/G ratio of 1.95 and a beta of 0.73. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.74 and a current ratio of 0.90. The firm has a 50-day moving average of $231.31 and a 200-day moving average of $221.59. 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 quarterly earnings data on Thursday, July 25th. The company reported $3.24 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $5.30 billion during the quarter, compared to the consensus estimate of $5.30 billion. During the same period last year, the business posted $2.97 earnings per share. The business’s revenue for the quarter was up 12.9% compared to the same quarter last year. On average, sell-side analysts anticipate that L3Harris Technologies, Inc. will post 13.06 EPS for the current year.

L3Harris Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be paid a $1.16 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $4.64 annualized dividend and a yield of 2.02%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on LHX shares. Deutsche Bank Aktiengesellschaft cut L3Harris Technologies from a “buy” rating to a “hold” rating and raised their price objective for the company from $245.00 to $257.00 in a report on Friday, July 26th. Wells Fargo & Company decreased their price target on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Barclays upped their price objective on L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. 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 company from $250.00 to $240.00 in a research note on Wednesday, August 14th. Finally, Susquehanna upped their price target on shares of L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research report on Monday, July 29th. Five equities research 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 currently has an average rating of “Moderate Buy” and an average price target of $247.08.

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.