Bard Financial Services Inc. Cuts Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Bard Financial Services Inc. lessened its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 26.5% in the 3rd quarter, Holdings Channel.com reports. The fund owned 4,100 shares of the company’s stock after selling 1,480 shares during the quarter. Bard Financial Services Inc.’s holdings in L3Harris Technologies were worth $975,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LHX. Vanguard Group Inc. increased its holdings in L3Harris Technologies by 15.4% in the 4th quarter. Vanguard Group Inc. now owns 20,186,512 shares of the company’s stock worth $4,251,683,000 after acquiring an additional 2,692,771 shares in the last quarter. Wellington Management Group LLP increased its holdings in L3Harris Technologies by 34.7% in the 4th quarter. Wellington Management Group LLP now owns 4,416,904 shares of the company’s stock worth $930,288,000 after acquiring an additional 1,138,549 shares in the last quarter. Manning & Napier Advisors LLC purchased a new stake in L3Harris Technologies in the 2nd quarter worth $210,886,000. Envestnet Asset Management Inc. increased its holdings in L3Harris Technologies by 236.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 989,340 shares of the company’s stock worth $222,186,000 after acquiring an additional 695,582 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its holdings in L3Harris Technologies by 296.8% in the 4th quarter. Point72 Asset Management L.P. now owns 725,228 shares of the company’s stock worth $152,748,000 after acquiring an additional 542,453 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on LHX shares. Deutsche Bank Aktiengesellschaft lowered their target price on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a research note on Thursday. Morgan Stanley cut shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $275.00 to $257.00 in a research note on Friday, August 9th. Susquehanna lifted 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. Royal Bank of Canada cut shares of L3Harris Technologies from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $250.00 to $240.00 in a research note on Wednesday, August 14th. Finally, Wells Fargo & Company lowered 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. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $246.54.

Insider Transactions at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $236.68, for a total transaction of $707,199.84. Following the sale, the insider now owns 16,316 shares of the company’s stock, valued at approximately $3,861,670.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Scott T. Mikuen sold 10,527 shares of the firm’s stock in a transaction that occurred on 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 sale, the senior vice president now directly owns 47,616 shares in the company, valued at approximately $10,951,680. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,390 shares of company stock valued at $7,592,959. 0.82% of the stock is currently owned by corporate insiders.

L3Harris Technologies Trading Up 0.2 %

LHX stock traded up $0.55 during mid-day trading on Friday, hitting $243.66. 372,741 shares of the company were exchanged, compared to its average volume of 933,624. 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 firm has a market capitalization of $46.22 billion, a P/E ratio of 39.56, a PEG ratio of 2.04 and a beta of 0.73. The business has a fifty day simple moving average of $231.62 and a 200-day simple moving average of $223.50. L3Harris Technologies, Inc. has a 12-month low of $160.25 and a 12-month high of $247.33.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, July 25th. The company reported $3.24 earnings per share for the quarter, topping the consensus estimate of $3.18 by $0.06. The company had revenue of $5.30 billion during the quarter, compared to analyst estimates of $5.30 billion. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. L3Harris Technologies’s revenue was up 12.9% compared to the same quarter last year. During the same quarter last year, the firm posted $2.97 earnings per share. On average, equities research analysts predict that L3Harris Technologies, Inc. will post 13.06 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm 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. The ex-dividend date was Friday, September 6th. This represents a $4.64 annualized dividend and a dividend yield of 1.90%. L3Harris Technologies’s dividend payout ratio is presently 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.