L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC reduced its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 18.2% during the 2nd quarter, Holdings Channel.com reports. The fund owned 321,222 shares of the company’s stock after selling 71,248 shares during the quarter. Hsbc Holdings PLC’s holdings in L3Harris Technologies were worth $72,218,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. RFG Advisory LLC grew its holdings in shares of L3Harris Technologies by 3.1% during the second quarter. RFG Advisory LLC now owns 1,416 shares of the company’s stock worth $318,000 after purchasing an additional 43 shares during the last quarter. Optas LLC boosted its holdings in shares of L3Harris Technologies by 3.3% in the second quarter. Optas LLC now owns 1,381 shares of the company’s stock valued at $310,000 after acquiring an additional 44 shares during the period. Founders Financial Securities LLC grew its position in shares of L3Harris Technologies by 2.8% during the second quarter. Founders Financial Securities LLC now owns 1,774 shares of the company’s stock worth $398,000 after acquiring an additional 48 shares during the last quarter. Whitener Capital Management Inc. increased its holdings in shares of L3Harris Technologies by 3.0% in the 2nd quarter. Whitener Capital Management Inc. now owns 1,715 shares of the company’s stock valued at $385,000 after acquiring an additional 50 shares during the period. Finally, Newman Dignan & Sheerar Inc. raised its position in L3Harris Technologies by 0.6% in the 2nd quarter. Newman Dignan & Sheerar Inc. now owns 8,888 shares of the company’s stock valued at $1,996,000 after purchasing an additional 55 shares during the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Trading Up 0.3 %

Shares of LHX stock opened at $230.46 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.90 and a quick ratio of 0.74. L3Harris Technologies, Inc. has a 1-year low of $160.25 and a 1-year high of $245.60. The firm has a market capitalization of $43.71 billion, a PE ratio of 37.41, a P/E/G ratio of 1.95 and a beta of 0.73. The business’s fifty day moving average price is $231.31 and its 200 day moving average price is $221.65.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, July 25th. The company reported $3.24 earnings per share (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 the consensus estimate of $5.30 billion. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period last year, the firm earned $2.97 EPS. As a group, sell-side analysts forecast that L3Harris Technologies, Inc. will post 13.06 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be given a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend is Friday, September 6th. L3Harris Technologies’s dividend payout ratio is currently 75.32%.

Insider Transactions at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $236.68, for a total value of $707,199.84. Following the sale, the insider now directly owns 16,316 shares of the company’s stock, valued at approximately $3,861,670.88. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, SVP Scott T. Mikuen sold 10,527 shares of the company’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 approximately $10,951,680. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Ross Niebergall sold 2,988 shares of the 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 sale, the insider now owns 16,316 shares in the company, valued at approximately $3,861,670.88. The disclosure for this sale can be found here. Insiders sold 29,402 shares of company stock valued at $6,861,855 in the last 90 days. 0.82% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft downgraded shares of 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. Susquehanna boosted their price target on 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 company from $275.00 to $257.00 in a research note on Friday, August 9th. Royal Bank of Canada downgraded L3Harris Technologies from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from $250.00 to $240.00 in a research note on Wednesday, August 14th. Finally, Barclays upped 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. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus 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.