L3Harris Technologies, Inc. (NYSE:LHX) Shares Purchased by Pathway Financial Advisers LLC

Pathway Financial Advisers LLC grew its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 1.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,476 shares of the company’s stock after purchasing an additional 56 shares during the period. Pathway Financial Advisers LLC’s holdings in L3Harris Technologies were worth $775,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Capital World Investors lifted its holdings in L3Harris Technologies by 26.0% in the fourth quarter. Capital World Investors now owns 16,056,272 shares of the company’s stock worth $3,381,784,000 after acquiring an additional 3,308,506 shares during the last quarter. Vanguard Group Inc. grew 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 buying an additional 2,692,771 shares during the last quarter. Wellington Management Group LLP increased its position in L3Harris Technologies by 34.7% in the fourth quarter. Wellington Management Group LLP now owns 4,416,904 shares of the company’s stock worth $930,288,000 after buying an additional 1,138,549 shares during the period. Manning & Napier Advisors LLC bought a new stake in L3Harris Technologies in the second quarter valued at $210,886,000. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of L3Harris Technologies by 236.8% during the second quarter. Envestnet Asset Management Inc. now owns 989,340 shares of the company’s stock valued at $222,186,000 after acquiring an additional 695,582 shares during the period. 84.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on LHX. Susquehanna lifted 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. Morgan Stanley downgraded L3Harris Technologies from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $275.00 to $257.00 in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft downgraded L3Harris Technologies from a “buy” rating to a “hold” rating and lifted their target price for the company from $245.00 to $257.00 in a research note on Friday, July 26th. Royal Bank of Canada lowered L3Harris Technologies from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $250.00 to $240.00 in a report on Wednesday, August 14th. Finally, Wells Fargo & Company reduced their price objective on shares of L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $247.08.

Insider Buying and Selling at L3Harris Technologies

In other news, SVP Scott T. Mikuen sold 15,887 shares of the firm’s stock in a transaction 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 sale, the senior vice president now owns 47,616 shares of the company’s stock, valued at $11,189,760. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, SVP Scott T. Mikuen sold 15,887 shares of the 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 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 transaction, the senior vice president now directly owns 47,616 shares in the company, valued at approximately $10,951,680. 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 three months. 0.82% of the stock is currently owned by company insiders.

L3Harris Technologies Stock Performance

LHX opened at $237.79 on Tuesday. The company has a quick ratio of 0.74, a current ratio of 0.90 and a debt-to-equity ratio of 0.56. L3Harris Technologies, Inc. has a fifty-two week low of $160.25 and a fifty-two week high of $245.60. The firm has a market cap of $45.10 billion, a PE ratio of 38.60, a P/E/G ratio of 2.04 and a beta of 0.73. The business has a fifty day simple moving average of $231.09 and a 200-day simple moving average of $222.75.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, July 25th. The company reported $3.24 EPS for the quarter, beating analysts’ consensus estimates of $3.18 by $0.06. The company had revenue of $5.30 billion during 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 business’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.97 earnings per share. As a group, equities analysts predict that L3Harris Technologies, Inc. will post 13.06 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

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 dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend was Friday, September 6th. L3Harris Technologies’s payout ratio is 75.32%.

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.