Mackenzie Financial Corp Purchases 416 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Mackenzie Financial Corp grew its position in L3Harris Technologies, Inc. (NYSE:LHX) by 2.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,342 shares of the company’s stock after acquiring an additional 416 shares during the quarter. Mackenzie Financial Corp’s holdings in L3Harris Technologies were worth $3,895,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Meeder Asset Management Inc. lifted its stake in 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 purchasing an additional 86 shares during the last quarter. Transcendent Capital Group LLC purchased a new stake in shares of L3Harris Technologies in the fourth quarter worth approximately $28,000. EntryPoint Capital LLC lifted its stake 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 during the last quarter. Versant Capital Management Inc boosted its holdings in 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 period. Finally, Family Firm Inc. bought a new position in L3Harris Technologies in the 2nd quarter valued at $45,000. Institutional investors own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on LHX. Barclays boosted their target price 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. Wells Fargo & Company dropped their target price on shares of L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating and lifted their price target for the company from $245.00 to $257.00 in a research note on Friday, July 26th. Royal Bank of Canada cut L3Harris Technologies from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $250.00 to $240.00 in a research note on Wednesday, August 14th. Finally, Susquehanna lifted their target price on L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research report on Monday, July 29th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $247.08.

L3Harris Technologies Trading Up 3.1 %

Shares of NYSE LHX opened at $245.29 on Wednesday. L3Harris Technologies, Inc. has a 1-year low of $160.25 and a 1-year high of $247.33. The business has a fifty day moving average price of $231.19 and a 200 day moving average price of $222.98. The stock has a market capitalization of $46.53 billion, a P/E ratio of 39.82, a price-to-earnings-growth ratio of 2.04 and a beta of 0.73. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.90 and a quick ratio of 0.74.

L3Harris Technologies (NYSE:LHX) last released 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 business had revenue of $5.30 billion during the quarter, compared to analyst estimates of $5.30 billion. During the same period in the prior year, the firm posted $2.97 earnings per share. The company’s quarterly revenue was up 12.9% on a year-over-year basis. Equities research analysts expect that L3Harris Technologies, Inc. will post 13.06 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company 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 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend was Friday, September 6th. L3Harris Technologies’s dividend payout ratio is currently 75.32%.

Insider Transactions at L3Harris Technologies

In related news, SVP Scott T. Mikuen sold 10,527 shares of the business’s stock in a transaction 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 transaction, the senior vice president now directly owns 47,616 shares in the company, valued at approximately $10,951,680. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other L3Harris Technologies news, SVP Scott T. Mikuen sold 15,887 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $235.00, for a total transaction of $3,733,445.00. Following the transaction, the senior vice president now owns 47,616 shares in the company, valued at approximately $11,189,760. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Scott T. Mikuen sold 10,527 shares of L3Harris Technologies stock in a transaction 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 owns 47,616 shares of the company’s stock, valued at $10,951,680. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,402 shares of company stock valued at $6,861,855. Corporate insiders own 0.82% of the company’s stock.

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.