Core Alternative Capital Raises Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Core Alternative Capital grew its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 6.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,778 shares of the company’s stock after purchasing an additional 1,050 shares during the period. Core Alternative Capital’s holdings in L3Harris Technologies were worth $3,993,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in LHX. Meeder Asset Management Inc. increased its position 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 valued at $27,000 after buying an additional 86 shares during the period. Transcendent Capital Group LLC bought a new stake in L3Harris Technologies during the 4th quarter worth approximately $28,000. EntryPoint Capital LLC lifted its stake in L3Harris Technologies by 70.4% in the 1st quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock worth $36,000 after purchasing an additional 69 shares in the last quarter. Versant Capital Management Inc boosted its holdings in L3Harris Technologies by 77.7% in the 2nd quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock valued at $41,000 after purchasing an additional 80 shares during the period. Finally, Family Firm Inc. purchased a new position in shares of L3Harris Technologies during the 2nd quarter valued at $45,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $234.99 on Monday. 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 fifty-two week low of $160.25 and a fifty-two week high of $245.60. The business has a 50 day moving average price of $231.09 and a 200-day moving average price of $222.58. The firm has a market cap of $44.57 billion, a PE ratio of 38.15, a price-to-earnings-growth ratio of 2.04 and a beta of 0.73.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, July 25th. The company reported $3.24 earnings per share (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 analyst estimates of $5.30 billion. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The company’s revenue was up 12.9% on a year-over-year basis. During the same quarter last year, the firm earned $2.97 EPS. Equities research analysts predict that L3Harris Technologies, Inc. will post 13.06 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were issued a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend was Friday, September 6th. L3Harris Technologies’s dividend payout ratio (DPR) is currently 75.32%.

Insider Transactions at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now owns 16,316 shares of the company’s stock, valued at $3,861,670.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other 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 value of $707,199.84. Following the completion of the sale, the insider now directly owns 16,316 shares of the company’s stock, valued at approximately $3,861,670.88. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Scott T. Mikuen sold 15,887 shares of L3Harris Technologies 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 sale, the senior vice president now directly owns 47,616 shares in the company, valued at approximately $11,189,760. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,402 shares of company stock worth $6,861,855. 0.82% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Wells Fargo & Company decreased their target price on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Barclays boosted their price target on shares of L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Susquehanna raised their price objective on shares of L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research report on Monday, July 29th. Royal Bank of Canada lowered shares of L3Harris Technologies from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $250.00 to $240.00 in a research report on Wednesday, August 14th. Finally, Deutsche Bank Aktiengesellschaft lowered L3Harris Technologies from a “buy” rating to a “hold” rating and lifted their price target for the stock from $245.00 to $257.00 in a research note on Friday, July 26th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.