SG Americas Securities LLC Sells 20,347 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

SG Americas Securities LLC trimmed its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 88.0% during the 3rd quarter, Holdings Channel.com reports. The fund owned 2,783 shares of the company’s stock after selling 20,347 shares during the quarter. SG Americas Securities LLC’s holdings in L3Harris Technologies were worth $662,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of LHX. Meeder Asset Management Inc. grew its holdings in shares of L3Harris Technologies by 260.6% in the second quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock worth $27,000 after purchasing an additional 86 shares during the last quarter. Transcendent Capital Group LLC bought a new stake in L3Harris Technologies in the 4th quarter worth $28,000. EntryPoint Capital LLC increased its position in shares of L3Harris Technologies by 70.4% in the first quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock valued at $36,000 after acquiring an additional 69 shares during the period. Versant Capital Management Inc raised its stake in shares of L3Harris Technologies by 77.7% during the second quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock valued at $41,000 after acquiring an additional 80 shares during the last quarter. Finally, Family Firm Inc. purchased a new stake in shares of L3Harris Technologies during the second quarter worth about $45,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Stock Performance

L3Harris Technologies stock opened at $246.04 on Monday. The stock’s 50 day moving average is $233.12 and its 200 day moving average is $224.74. The company has a market capitalization of $46.67 billion, a P/E ratio of 39.94, a PEG ratio of 2.08 and a beta of 0.73. L3Harris Technologies, Inc. has a twelve month low of $169.55 and a twelve month high of $247.33. 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 (NYSE:LHX) last issued its quarterly earnings results on Thursday, July 25th. The company reported $3.24 earnings per share for the quarter, beating the consensus estimate of $3.18 by $0.06. The firm had revenue of $5.30 billion during the quarter, compared to the consensus estimate 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 was up 12.9% on a year-over-year basis. During the same period last year, the company earned $2.97 earnings per share. On average, equities research analysts predict that L3Harris Technologies, Inc. will post 13.06 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

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

Analyst Upgrades and Downgrades

LHX has been the subject of a number of recent analyst reports. 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 research report on Wednesday, August 14th. Wells Fargo & Company dropped their price target on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Wolfe Research raised shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective on the stock in a research report on Thursday. Susquehanna upped their price objective on shares of L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a report on Monday, July 29th. Finally, Citigroup increased their price target on shares of L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a research note on Thursday. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $253.64.

Insider Activity at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total value of $731,103.84. Following the transaction, the insider now directly owns 13,328 shares of the company’s stock, valued at approximately $3,261,095.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.82% of the stock is owned by 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.