Sei Investments Co. Acquires 6,305 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Sei Investments Co. boosted its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 3.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 177,819 shares of the company’s stock after purchasing an additional 6,305 shares during the quarter. Sei Investments Co. owned approximately 0.09% of L3Harris Technologies worth $39,933,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Meeder Asset Management Inc. raised its holdings in shares of L3Harris Technologies by 260.6% during the 2nd quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock worth $27,000 after acquiring an additional 86 shares in the last quarter. Transcendent Capital Group LLC purchased a new stake in shares of L3Harris Technologies during the 4th quarter worth approximately $28,000. EntryPoint Capital LLC raised its holdings in shares of L3Harris Technologies by 70.4% during the 1st 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 raised its holdings in shares of L3Harris Technologies by 77.7% during the 2nd quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock worth $41,000 after acquiring an additional 80 shares in the last quarter. Finally, Family Firm Inc. purchased a new stake in shares of L3Harris Technologies during the 2nd quarter worth approximately $45,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $236.68, for a total transaction of $707,199.84. Following the transaction, the insider now owns 16,316 shares of the company’s stock, valued at approximately $3,861,670.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP Scott T. Mikuen sold 10,527 shares of the firm’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 sale, the senior vice president now 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 available through the SEC website. Also, insider Ross Niebergall sold 2,988 shares of the firm’s 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 in the company, valued at approximately $3,861,670.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,402 shares of company stock valued at $6,861,855. 0.82% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Wells Fargo & Company decreased their price target on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft lowered 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 report on Friday, July 26th. Morgan Stanley lowered L3Harris Technologies from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $275.00 to $257.00 in a report on Friday, August 9th. Royal Bank of Canada lowered L3Harris Technologies from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $250.00 to $240.00 in a report on Wednesday, August 14th. Finally, Barclays increased their price target on L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $247.08.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock opened at $237.73 on Tuesday. L3Harris Technologies, Inc. has a 52 week low of $160.25 and a 52 week high of $245.60. The company has a quick ratio of 0.74, a current ratio of 0.90 and a debt-to-equity ratio of 0.56. The stock’s fifty day moving average is $231.42 and its two-hundred day moving average is $222.04. The company has a market capitalization of $45.09 billion, a PE ratio of 38.59, a price-to-earnings-growth ratio of 1.95 and a beta of 0.73.

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, 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 business had revenue of $5.30 billion for the quarter, compared to the consensus estimate of $5.30 billion. During the same quarter in the prior year, the company earned $2.97 EPS. The business’s revenue was up 12.9% compared to the same quarter last year. As a group, analysts expect that L3Harris Technologies, Inc. will post 13.06 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend was Friday, September 6th. L3Harris Technologies’s payout ratio is 75.32%.

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.