Alaethes Wealth LLC Grows Position in L3Harris Technologies, Inc. (NYSE:LHX)

Alaethes Wealth LLC raised its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 3.1% in the second quarter, HoldingsChannel.com reports. The fund owned 6,555 shares of the company’s stock after purchasing an additional 195 shares during the quarter. Alaethes Wealth LLC’s holdings in L3Harris Technologies were worth $1,472,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. 9258 Wealth Management LLC lifted its holdings in L3Harris Technologies by 20.0% in the 4th quarter. 9258 Wealth Management LLC now owns 4,371 shares of the company’s stock valued at $921,000 after purchasing an additional 727 shares in the last quarter. Rollins Financial purchased a new position in shares of L3Harris Technologies during the fourth quarter valued at approximately $217,000. Gryphon Financial Partners LLC lifted its stake in shares of L3Harris Technologies by 26.1% during the fourth quarter. Gryphon Financial Partners LLC now owns 1,808 shares of the company’s stock valued at $384,000 after buying an additional 374 shares during the period. Corient Private Wealth LLC grew its stake in L3Harris Technologies by 1.1% in the 4th quarter. Corient Private Wealth LLC now owns 90,843 shares of the company’s stock worth $19,134,000 after acquiring an additional 976 shares during the period. Finally, CreativeOne Wealth LLC raised its holdings in L3Harris Technologies by 8.9% in the 4th quarter. CreativeOne Wealth LLC now owns 1,749 shares of the company’s stock valued at $368,000 after acquiring an additional 143 shares during the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

L3Harris Technologies Stock Up 1.2 %

Shares of L3Harris Technologies stock opened at $233.21 on Friday. L3Harris Technologies, Inc. has a twelve month low of $160.25 and a twelve month high of $245.60. The stock has a market cap of $44.24 billion, a price-to-earnings ratio of 37.86, a price-to-earnings-growth ratio of 1.95 and a beta of 0.73. The company has a current ratio of 0.90, a quick ratio of 0.74 and a debt-to-equity ratio of 0.56. The company has a fifty day moving average price of $231.36 and a 200 day moving average price of $221.77.

L3Harris Technologies (NYSE:LHX) last issued 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. 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 in the previous year, the firm posted $2.97 earnings per share. The firm’s quarterly revenue was up 12.9% on a year-over-year basis. Equities research analysts forecast that L3Harris Technologies, Inc. will post 13.06 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were given a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 1.99%. The ex-dividend date was Friday, September 6th. L3Harris Technologies’s dividend payout ratio (DPR) is 75.32%.

Insider Activity

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

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft cut L3Harris Technologies from a “buy” rating to a “hold” rating and raised their price objective for the stock from $245.00 to $257.00 in a report on Friday, July 26th. Wells Fargo & Company lowered their price target on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Barclays increased their price objective on shares of L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Royal Bank of Canada downgraded shares of L3Harris Technologies from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from $250.00 to $240.00 in a report on Wednesday, August 14th. Finally, Morgan Stanley downgraded shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $275.00 to $257.00 in a research note on Friday, August 9th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $247.08.

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.