New Century Financial Group LLC Buys 83 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

New Century Financial Group LLC raised its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 3.9% during the 2nd quarter, Holdings Channel reports. The fund owned 2,193 shares of the company’s stock after purchasing an additional 83 shares during the period. New Century Financial Group LLC’s holdings in L3Harris Technologies were worth $493,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Delphi Management Inc. MA boosted its position in L3Harris Technologies by 3.9% during the 2nd quarter. Delphi Management Inc. MA now owns 4,722 shares of the company’s stock valued at $1,060,000 after acquiring an additional 178 shares in the last quarter. Ariadne Wealth Management LP acquired a new stake in shares of L3Harris Technologies in the 2nd quarter worth $206,000. Cetera Investment Advisers boosted its position in shares of L3Harris Technologies by 1.9% in the 2nd quarter. Cetera Investment Advisers now owns 64,747 shares of the company’s stock worth $14,541,000 after purchasing an additional 1,217 shares in the last quarter. 3Chopt Investment Partners LLC acquired a new stake in shares of L3Harris Technologies in the 2nd quarter worth $401,000. Finally, Truist Financial Corp boosted its position in shares of L3Harris Technologies by 19.2% in the 2nd quarter. Truist Financial Corp now owns 133,536 shares of the company’s stock worth $29,990,000 after purchasing an additional 21,529 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

Insider Buying and Selling

In related news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 16,316 shares of the company’s stock, valued at approximately $3,861,670.88. The transaction 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 the company’s stock in a transaction dated 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 transaction, the insider now owns 16,316 shares of the company’s stock, valued at approximately $3,861,670.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Scott T. Mikuen sold 10,527 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $230.00, for a total value of $2,421,210.00. Following the sale, the senior vice president now owns 47,616 shares of the company’s stock, valued at $10,951,680. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,402 shares of company stock valued at $6,861,855. 0.82% of the stock is owned by company insiders.

L3Harris Technologies Stock Performance

Shares of LHX stock opened at $245.29 on Wednesday. The stock has a market cap of $46.53 billion, a PE ratio of 39.82, a price-to-earnings-growth ratio of 2.04 and a beta of 0.73. The business has a 50-day simple moving average of $231.19 and a 200-day simple moving average of $222.98. 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 52-week low of $160.25 and a 52-week high of $247.33.

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, beating the consensus estimate of $3.18 by $0.06. The business had revenue of $5.30 billion during the quarter, compared to analysts’ expectations of $5.30 billion. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.97 EPS. On average, equities analysts expect that L3Harris Technologies, Inc. will post 13.06 EPS for the current year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were issued a $1.16 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $4.64 dividend on an annualized basis and a yield of 1.89%. L3Harris Technologies’s payout ratio is 75.32%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on LHX shares. Barclays raised their price objective on L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. 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 research report on Friday, July 26th. Wells Fargo & Company lowered their price objective 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. Royal Bank of Canada lowered L3Harris Technologies from an “outperform” rating to a “sector perform” rating and reduced their target price for the stock from $250.00 to $240.00 in a research note on Wednesday, August 14th. Finally, Susquehanna raised their target price on L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research note on Monday, July 29th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $247.08.

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.