L3Harris Technologies, Inc. (NYSE:LHX) Shares Bought by Intech Investment Management LLC

Intech Investment Management LLC grew its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 261.5% in the second quarter, Holdings Channel.com reports. The institutional investor owned 13,834 shares of the company’s stock after buying an additional 10,007 shares during the quarter. Intech Investment Management LLC’s holdings in L3Harris Technologies were worth $3,107,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Meeder Asset Management Inc. lifted its stake in L3Harris Technologies by 260.6% in the 2nd quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock worth $27,000 after purchasing an additional 86 shares in the last quarter. Transcendent Capital Group LLC purchased a new position in L3Harris Technologies during the fourth quarter worth approximately $28,000. EntryPoint Capital LLC lifted its position 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 buying an additional 69 shares in the last quarter. Versant Capital Management Inc boosted its stake in L3Harris Technologies by 77.7% during the second quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock worth $41,000 after buying an additional 80 shares during the last quarter. Finally, Family Firm Inc. purchased a new stake in L3Harris Technologies in the 2nd quarter valued at $45,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Stock Up 1.2 %

Shares of LHX opened at $233.21 on Monday. The company’s 50-day simple moving average is $231.36 and its 200-day simple moving average is $221.87. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.74 and a current ratio of 0.90. L3Harris Technologies, Inc. has a 1 year low of $160.25 and a 1 year high of $245.60. The stock has a market capitalization of $44.24 billion, a PE ratio of 37.86, a P/E/G ratio of 1.95 and a beta of 0.73.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, July 25th. The company reported $3.24 EPS for the quarter, beating 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 quarter last year, the company posted $2.97 EPS. The firm’s revenue was up 12.9% compared to the same quarter last year. Analysts forecast that L3Harris Technologies, Inc. will post 13.06 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were issued a dividend of $1.16 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $4.64 annualized dividend and a yield of 1.99%. L3Harris Technologies’s dividend payout ratio (DPR) is 75.32%.

Insider Buying and Selling at L3Harris Technologies

In other news, SVP Scott T. Mikuen sold 10,527 shares of the business’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $230.00, for a total transaction of $2,421,210.00. Following the completion of the transaction, the senior vice president now directly owns 47,616 shares of the company’s stock, valued at $10,951,680. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, SVP Scott T. Mikuen sold 10,527 shares of the stock in a transaction 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 transaction, the senior vice president now owns 47,616 shares of the company’s stock, valued at $10,951,680. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies 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 sale, the insider now directly owns 16,316 shares of the company’s stock, valued at $3,861,670.88. The disclosure for this sale can be found here. Insiders have sold 29,402 shares of company stock valued at $6,861,855 in the last quarter. Corporate insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

LHX has been the topic of several recent research reports. Morgan Stanley cut shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $275.00 to $257.00 in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft cut shares of L3Harris Technologies from a “buy” rating to a “hold” rating and increased their price target for the company from $245.00 to $257.00 in a research note on Friday, July 26th. Royal Bank of Canada downgraded shares of L3Harris Technologies from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $250.00 to $240.00 in a report on Wednesday, August 14th. 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. Finally, Barclays raised their target price 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 analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $247.08.

L3Harris Technologies 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.