ASB Consultores LLC Sells 118 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

ASB Consultores LLC trimmed its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 5.9% in the second quarter, Holdings Channel.com reports. The firm owned 1,895 shares of the company’s stock after selling 118 shares during the quarter. ASB Consultores LLC’s holdings in L3Harris Technologies were worth $426,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of LHX. Capital World Investors increased its stake in L3Harris Technologies by 26.0% during the 4th quarter. Capital World Investors now owns 16,056,272 shares of the company’s stock worth $3,381,784,000 after purchasing an additional 3,308,506 shares in the last quarter. Vanguard Group Inc. increased its stake in L3Harris Technologies by 15.4% during the 4th quarter. Vanguard Group Inc. now owns 20,186,512 shares of the company’s stock worth $4,251,683,000 after purchasing an additional 2,692,771 shares in the last quarter. Wellington Management Group LLP boosted its position in L3Harris Technologies by 34.7% during the 4th quarter. Wellington Management Group LLP now owns 4,416,904 shares of the company’s stock worth $930,288,000 after acquiring an additional 1,138,549 shares during the last quarter. Manning & Napier Advisors LLC acquired a new position in L3Harris Technologies during the 2nd quarter worth approximately $210,886,000. Finally, Bank of New York Mellon Corp boosted its position in L3Harris Technologies by 54.5% during the 1st quarter. Bank of New York Mellon Corp now owns 2,650,866 shares of the company’s stock worth $564,899,000 after acquiring an additional 934,935 shares during the last quarter. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies Stock Up 0.3 %

Shares of NYSE LHX opened at $230.46 on Friday. 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, Inc. has a 52 week low of $160.25 and a 52 week high of $245.60. The stock has a market capitalization of $43.71 billion, a P/E ratio of 37.41, a PEG ratio of 1.95 and a beta of 0.73. The stock’s fifty day moving average is $231.31 and its 200 day moving average is $221.65.

L3Harris Technologies (NYSE:LHX) last issued its quarterly 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. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The company had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.30 billion. During the same quarter last year, the business earned $2.97 earnings per share. L3Harris Technologies’s revenue was up 12.9% on a year-over-year basis. Sell-side analysts forecast that L3Harris Technologies, Inc. will post 13.06 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently disclosed 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. This represents a $4.64 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Friday, September 6th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on LHX shares. Wells Fargo & Company reduced their price target on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Morgan Stanley downgraded L3Harris Technologies from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $275.00 to $257.00 in a research report on Friday, August 9th. Barclays increased 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. Royal Bank of Canada downgraded L3Harris Technologies from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $250.00 to $240.00 in a report on Wednesday, August 14th. Finally, Susquehanna increased their price objective on L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a report on Monday, July 29th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $247.08.

Insider Activity at L3Harris Technologies

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 transaction of $3,733,445.00. Following the sale, the senior vice president now directly owns 47,616 shares of the company’s stock, valued at $11,189,760. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $236.68, for a total value 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 L3Harris Technologies stock in a transaction that occurred on 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 completion of the transaction, the senior vice president now directly owns 47,616 shares in the company, valued at $11,189,760. The disclosure for this sale can be found here. Insiders have sold 29,402 shares of company stock valued at $6,861,855 over the last ninety days. 0.82% of the stock is owned by corporate insiders.

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.