Texas Capital Bancshares Inc TX Sells 433 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Texas Capital Bancshares Inc TX reduced its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 18.4% in the second quarter, Holdings Channel reports. The firm owned 1,924 shares of the company’s stock after selling 433 shares during the period. Texas Capital Bancshares Inc TX’s holdings in L3Harris Technologies were worth $432,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Meeder Asset Management Inc. grew its position in shares of 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 buying an additional 86 shares during the last quarter. Transcendent Capital Group LLC acquired a new position in L3Harris Technologies during the fourth quarter valued at $28,000. EntryPoint Capital LLC lifted its holdings in L3Harris Technologies by 70.4% in the first quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock valued at $36,000 after acquiring an additional 69 shares during the period. Versant Capital Management Inc increased its stake in shares of 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 purchasing an additional 80 shares in the last quarter. Finally, Family Firm Inc. purchased a new position in L3Harris Technologies during the second quarter worth approximately $45,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, SVP Scott T. Mikuen sold 10,527 shares of the business’s 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 transaction, the senior vice president now owns 47,616 shares in the company, valued at approximately $10,951,680. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 transaction 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Scott T. Mikuen sold 15,887 shares of L3Harris Technologies stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $235.00, for a total value of $3,733,445.00. Following the completion of the transaction, the senior vice president now owns 47,616 shares of the company’s stock, valued at $11,189,760. The disclosure for this sale can be found here. In the last three months, 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 equities research analysts recently issued reports on LHX shares. Royal Bank of Canada cut L3Harris Technologies from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $250.00 to $240.00 in a report on Wednesday, August 14th. Barclays increased 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. Susquehanna upped 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. Morgan Stanley cut shares of 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 research report on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft lowered L3Harris Technologies from a “buy” rating to a “hold” rating and upped their price objective for the stock from $245.00 to $257.00 in a research report on Friday, July 26th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $247.08.

L3Harris Technologies Trading Up 1.5 %

Shares of L3Harris Technologies stock opened at $235.05 on Friday. The company has a 50-day moving average of $231.09 and a two-hundred day moving average of $222.47. The stock has a market cap of $44.58 billion, a PE ratio of 38.16, a price-to-earnings-growth ratio of 2.04 and a beta of 0.73. The company has a current ratio of 0.90, a quick ratio of 0.74 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.

L3Harris Technologies (NYSE:LHX) last issued 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 firm had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.30 billion. During the same period last year, the company earned $2.97 EPS. The firm’s quarterly revenue was up 12.9% on a year-over-year basis. On average, research analysts anticipate that L3Harris Technologies, Inc. will post 13.06 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were paid a $1.16 dividend. The ex-dividend date was Friday, September 6th. This represents a $4.64 annualized dividend and a dividend yield of 1.97%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 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.