L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Shapiro Capital Management LLC

Shapiro Capital Management LLC cut its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 2.5% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 538,456 shares of the company’s stock after selling 13,718 shares during the quarter. L3Harris Technologies comprises approximately 3.7% of Shapiro Capital Management LLC’s investment portfolio, making the stock its 8th largest holding. Shapiro Capital Management LLC’s holdings in L3Harris Technologies were worth $120,926,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Meeder Asset Management Inc. lifted its stake in shares of L3Harris Technologies by 260.6% in the second quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock worth $27,000 after acquiring an additional 86 shares during the period. Transcendent Capital Group LLC acquired a new stake in shares of L3Harris Technologies during the fourth quarter worth $28,000. EntryPoint Capital LLC raised 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 buying an additional 69 shares during the last quarter. Versant Capital Management Inc lifted 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 valued at $41,000 after buying an additional 80 shares during the period. Finally, Family Firm Inc. bought a new stake in L3Harris Technologies during the second quarter valued at $45,000. Institutional investors own 84.76% of the company’s stock.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies 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 owns 16,316 shares of the company’s stock, valued at $3,861,670.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other L3Harris Technologies news, SVP Scott T. Mikuen sold 10,527 shares of the stock in a transaction dated Thursday, July 11th. The shares were 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 owns 47,616 shares in the company, valued at $10,951,680. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ross Niebergall sold 2,988 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $236.68, for a total transaction of $707,199.84. Following the completion of 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. Insiders have sold 29,402 shares of company stock worth $6,861,855 in the last ninety days. Company insiders own 0.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on LHX. Deutsche Bank Aktiengesellschaft lowered L3Harris Technologies from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $245.00 to $257.00 in a research report on Friday, July 26th. Royal Bank of Canada cut 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. Barclays lifted 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. Susquehanna increased their target price 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. Finally, Wells Fargo & Company decreased their price target on shares of L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Five 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, the company has a consensus rating of “Moderate Buy” and a consensus target price of $247.08.

L3Harris Technologies Trading Up 1.9 %

NYSE LHX opened at $237.73 on Tuesday. 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 business has a fifty day simple moving average of $231.42 and a 200 day simple moving average of $222.04. L3Harris Technologies, Inc. has a 12 month low of $160.25 and a 12 month high of $245.60. The firm has a market capitalization of $45.09 billion, a P/E ratio of 38.59, a PEG ratio of 1.95 and a beta of 0.73.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, July 25th. The company reported $3.24 earnings per share (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 firm had revenue of $5.30 billion during the quarter, compared to analyst estimates of $5.30 billion. During the same quarter in the prior year, the business posted $2.97 EPS. The business’s revenue was up 12.9% compared to the same quarter last year. On average, analysts predict that L3Harris Technologies, Inc. will post 13.06 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors 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 dividend on an annualized basis and a yield of 1.95%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 75.32%.

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.