Simon Quick Advisors LLC Sells 923 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Simon Quick Advisors LLC decreased its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 48.7% during the second quarter, Holdings Channel reports. The fund owned 974 shares of the company’s stock after selling 923 shares during the period. Simon Quick Advisors LLC’s holdings in L3Harris Technologies were worth $219,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in LHX. Bfsg LLC bought a new position in L3Harris Technologies in the first quarter worth $25,000. Transcendent Capital Group LLC purchased a new position in L3Harris Technologies during the 4th quarter valued at about $28,000. EntryPoint Capital LLC boosted its stake in L3Harris Technologies by 70.4% during the first quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock worth $36,000 after acquiring an additional 69 shares in the last quarter. Versant Capital Management Inc grew its holdings in L3Harris Technologies by 77.7% in the second quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock worth $41,000 after purchasing an additional 80 shares during the period. Finally, Family Firm Inc. bought a new position in shares of L3Harris Technologies during the second quarter valued at approximately $45,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Analyst Ratings Changes

LHX has been the topic of a number of analyst reports. Susquehanna boosted their price target on L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft downgraded L3Harris Technologies from a “buy” rating to a “hold” rating and boosted their target price for the stock from $245.00 to $257.00 in a report on Friday, July 26th. Wells Fargo & Company reduced 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. Royal Bank of Canada cut shares of L3Harris Technologies from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $250.00 to $240.00 in a research note on Wednesday, August 14th. Finally, Barclays raised their price objective on shares of L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $247.08.

Insider Buying and Selling

In other L3Harris Technologies news, VP Sean J. Stackley sold 3,354 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $216.73, for a total value of $726,912.42. Following the transaction, the vice president now directly owns 14,186 shares in the company, valued at $3,074,531.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other L3Harris Technologies news, SVP Scott T. Mikuen sold 10,527 shares of the company’s stock in a transaction dated 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 completion of the sale, the senior vice president now owns 47,616 shares in the company, valued at $10,951,680. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Sean J. Stackley sold 3,354 shares of the firm’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $216.73, for a total value of $726,912.42. Following the completion of the transaction, the vice president now directly owns 14,186 shares in the company, valued at approximately $3,074,531.78. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,110 shares of company stock valued at $8,319,939. 0.82% of the stock is owned by insiders.

L3Harris Technologies Trading Down 1.7 %

Shares of LHX stock opened at $232.52 on Friday. The stock has a market capitalization of $44.10 billion, a P/E ratio of 37.75, a P/E/G ratio of 1.96 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 firm’s 50 day moving average is $230.55 and its 200 day moving average is $220.49. L3Harris Technologies, Inc. has a 12-month low of $160.25 and a 12-month high of $245.60.

L3Harris Technologies (NYSE:LHX) last released 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. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The firm had revenue of $5.30 billion for the quarter, compared to the consensus estimate of $5.30 billion. During the same period last year, the business posted $2.97 EPS. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. Research analysts expect 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 will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be paid a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 2.00%. The ex-dividend date is Friday, September 6th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

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.