L3Harris Technologies, Inc. (NYSE:LHX) Shares Purchased by Nemes Rush Group LLC

Nemes Rush Group LLC lifted its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 7.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,015 shares of the company’s stock after buying an additional 2,036 shares during the quarter. Nemes Rush Group LLC’s holdings in L3Harris Technologies were worth $6,965,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Meeder Asset Management Inc. raised its holdings in L3Harris Technologies by 260.6% in the 2nd quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock valued at $27,000 after acquiring an additional 86 shares during the last quarter. Transcendent Capital Group LLC acquired a new stake in L3Harris Technologies in the 4th quarter worth about $28,000. EntryPoint Capital LLC grew its holdings in L3Harris Technologies by 70.4% in the 1st quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock valued at $36,000 after buying an additional 69 shares during the period. Versant Capital Management Inc increased its stake 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 valued at $41,000 after acquiring an additional 80 shares during the last quarter. Finally, Family Firm Inc. acquired a new stake in shares of L3Harris Technologies in the second quarter worth approximately $45,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Trading Up 1.5 %

L3Harris Technologies stock opened at $234.99 on Friday. L3Harris Technologies, Inc. has a 12-month low of $160.25 and a 12-month high of $245.60. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.90 and a quick ratio of 0.74. The stock has a market capitalization of $44.57 billion, a PE ratio of 38.15, a price-to-earnings-growth ratio of 2.04 and a beta of 0.73. The firm has a 50 day simple moving average of $231.09 and a 200-day simple moving average of $222.53.

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, beating 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 during the quarter, compared to analyst estimates of $5.30 billion. During the same period last year, the company posted $2.97 EPS. The firm’s quarterly revenue was up 12.9% on a year-over-year basis. As a group, equities research analysts expect 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. Shareholders of record on Friday, September 6th were issued a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend was Friday, September 6th. L3Harris Technologies’s payout ratio is 75.32%.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction that occurred 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 transaction, the insider now 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 Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Ross Niebergall sold 2,988 shares of the firm’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 $3,861,670.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Scott T. Mikuen sold 10,527 shares of the company’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 completion of the transaction, the senior vice president now directly owns 47,616 shares in the company, valued at approximately $10,951,680. 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. 0.82% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

LHX has been the topic of a number of research analyst reports. Barclays lifted their target price on L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Morgan Stanley downgraded shares of 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. Susquehanna lifted their target price on L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research report on Monday, July 29th. Royal Bank of Canada lowered shares of 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, Wells Fargo & Company cut their target price on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, L3Harris Technologies presently has an average rating of “Moderate Buy” and an average target price of $247.08.

L3Harris Technologies Company 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.