L3Harris Technologies, Inc. (NYSE:LHX) Shares Acquired by J.W. Cole Advisors Inc.

J.W. Cole Advisors Inc. boosted its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 6.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,092 shares of the company’s stock after buying an additional 263 shares during the period. J.W. Cole Advisors Inc.’s holdings in L3Harris Technologies were worth $919,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. lifted its position in L3Harris Technologies by 260.6% in the 2nd quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock valued at $27,000 after purchasing an additional 86 shares during the last quarter. Transcendent Capital Group LLC acquired a new position in shares of L3Harris Technologies during the fourth quarter worth approximately $28,000. EntryPoint Capital LLC grew its holdings 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 buying an additional 69 shares in the last quarter. Versant Capital Management Inc increased its position 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 acquiring an additional 80 shares during the period. Finally, Family Firm Inc. bought a new stake in L3Harris Technologies during the 2nd quarter valued at $45,000. 84.76% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction that occurred on 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 $3,861,670.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $236.68, for a total value of $707,199.84. Following the transaction, the insider now directly owns 16,316 shares of the company’s stock, valued at $3,861,670.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Scott T. Mikuen sold 10,527 shares of L3Harris Technologies stock in a transaction on 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 sale, the senior vice president now directly owns 47,616 shares of the company’s stock, valued at approximately $10,951,680. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,402 shares of company stock valued at $6,861,855. Corporate insiders own 0.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Barclays increased their price target on L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Wells Fargo & Company lowered their target price on shares of L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Susquehanna upped their price target on shares of L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research note on Monday, July 29th. Morgan Stanley lowered shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $275.00 to $257.00 in a research note on Friday, August 9th. Finally, Royal Bank of Canada downgraded 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. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $247.08.

L3Harris Technologies Trading Up 0.8 %

Shares of NYSE LHX opened at $231.69 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 12 month low of $160.25 and a 12 month high of $245.60. The company has a market cap of $43.95 billion, a price-to-earnings ratio of 37.61, a P/E/G ratio of 1.95 and a beta of 0.73. The business has a fifty day simple moving average of $231.19 and a 200-day simple moving average of $221.39.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, July 25th. The company reported $3.24 EPS for the quarter, topping the consensus estimate of $3.18 by $0.06. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The company had revenue of $5.30 billion during the quarter, compared to analysts’ expectations of $5.30 billion. During the same period last year, the company posted $2.97 earnings per share. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. Sell-side analysts predict 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 will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be issued a dividend of $1.16 per share. The ex-dividend date is Friday, September 6th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.00%. L3Harris Technologies’s dividend payout ratio is 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.