Ascent Group LLC Invests $2.08 Million in L3Harris Technologies, Inc. (NYSE:LHX)

Ascent Group LLC bought a new stake in L3Harris Technologies, Inc. (NYSE:LHX) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 9,750 shares of the company’s stock, valued at approximately $2,078,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LHX. Capital World Investors lifted its stake in shares of L3Harris Technologies by 26.0% during the 4th quarter. Capital World Investors now owns 16,056,272 shares of the company’s stock valued at $3,381,784,000 after buying an additional 3,308,506 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of L3Harris Technologies by 15.4% during the 4th quarter. Vanguard Group Inc. now owns 20,186,512 shares of the company’s stock valued at $4,251,683,000 after buying an additional 2,692,771 shares in the last quarter. Mizuho Markets Americas LLC lifted its stake in shares of L3Harris Technologies by 990.3% during the 4th quarter. Mizuho Markets Americas LLC now owns 2,204,675 shares of the company’s stock valued at $464,349,000 after buying an additional 2,002,475 shares in the last quarter. Norges Bank purchased a new stake in shares of L3Harris Technologies during the 4th quarter valued at approximately $325,147,000. Finally, Wellington Management Group LLP lifted its stake in shares of L3Harris Technologies by 34.7% during the 4th quarter. Wellington Management Group LLP now owns 4,416,904 shares of the company’s stock valued at $930,288,000 after buying an additional 1,138,549 shares in the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on LHX shares. Susquehanna upped their price target on shares of L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research note on Monday. Barclays increased their target price on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 target price on shares of L3Harris Technologies in a research note on Monday. JPMorgan Chase & Co. increased their target price on shares of L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Finally, Alembic Global Advisors upgraded shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 target price on the stock in a research note on Monday, April 22nd. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $235.25.

L3Harris Technologies Trading Down 2.0 %

Shares of LHX stock traded down $4.63 on Monday, hitting $224.78. 1,356,833 shares of the company’s stock traded hands, compared to its average volume of 998,424. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.74 and a current ratio of 0.90. L3Harris Technologies, Inc. has a one year low of $160.25 and a one year high of $245.60. The company’s fifty day simple moving average is $226.21 and its 200 day simple moving average is $216.14. The stock has a market capitalization of $42.64 billion, a price-to-earnings ratio of 36.49, a P/E/G ratio of 1.91 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last released its 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 company had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.30 billion. During the same quarter last year, the firm earned $2.97 EPS. The firm’s quarterly revenue was up 12.9% compared to the same quarter last year. Equities analysts forecast that L3Harris Technologies, Inc. will post 12.99 EPS for the current year.

L3Harris Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be issued a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date is Friday, September 6th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

Insider Transactions at L3Harris Technologies

In other news, SVP Scott T. Mikuen sold 10,527 shares of the firm’s stock in a transaction dated 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 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 available at the SEC website. In related news, SVP Scott T. Mikuen sold 10,527 shares of L3Harris Technologies 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 directly owns 47,616 shares of the company’s stock, valued at approximately $10,951,680. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Christopher E. Kubasik sold 25,000 shares of L3Harris Technologies stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $225.11, for a total transaction of $5,627,750.00. Following the transaction, the chief executive officer now directly owns 120,326 shares of the company’s stock, valued at $27,086,585.86. The disclosure for this sale can be found here. In the last ninety days, insiders sold 109,312 shares of company stock valued at $24,712,822. Company 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.