Douglas Lane & Associates LLC Takes $202,000 Position in L3Harris Technologies, Inc. (NYSE:LHX)

Douglas Lane & Associates LLC purchased a new stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 899 shares of the company’s stock, valued at approximately $202,000.

Several other institutional investors have also recently made changes to their positions in the company. Oak Harbor Wealth Partners LLC raised its position in shares of L3Harris Technologies by 1.7% during the 1st quarter. Oak Harbor Wealth Partners LLC now owns 2,985 shares of the company’s stock valued at $636,000 after buying an additional 49 shares during the period. Blossom Wealth Management increased its holdings in L3Harris Technologies by 2.1% in the 4th quarter. Blossom Wealth Management now owns 2,465 shares of the company’s stock valued at $519,000 after purchasing an additional 51 shares during the last quarter. JFS Wealth Advisors LLC increased its holdings in L3Harris Technologies by 12.2% in the 4th quarter. JFS Wealth Advisors LLC now owns 488 shares of the company’s stock valued at $103,000 after purchasing an additional 53 shares during the last quarter. Parkside Financial Bank & Trust increased its holdings in L3Harris Technologies by 13.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 504 shares of the company’s stock valued at $106,000 after purchasing an additional 58 shares during the last quarter. Finally, Lindbrook Capital LLC increased its holdings in L3Harris Technologies by 3.6% in the 1st quarter. Lindbrook Capital LLC now owns 1,657 shares of the company’s stock valued at $353,000 after purchasing an additional 58 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Buying and Selling

In related news, VP Sean J. Stackley sold 3,354 shares of the business’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $216.73, for a total transaction of $726,912.42. Following the completion of the transaction, the vice president now owns 14,186 shares in the company, valued at $3,074,531.78. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, VP Sean J. Stackley sold 3,354 shares of the business’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $216.73, for a total value of $726,912.42. Following the completion of the sale, the vice president now directly owns 14,186 shares of the company’s stock, valued at $3,074,531.78. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 transaction 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 $10,951,680. The disclosure for this sale can be found here. Over the last quarter, insiders sold 109,312 shares of company stock worth $24,712,822. Corporate insiders own 0.82% of the company’s stock.

L3Harris Technologies Stock Down 0.5 %

Shares of LHX stock traded down $1.14 on Tuesday, reaching $225.96. 707,876 shares of the stock were exchanged, compared to its average volume of 1,005,128. The company has a current ratio of 0.90, a quick ratio of 0.74 and a debt-to-equity ratio of 0.56. The business’s 50 day moving average price is $226.65 and its 200 day moving average price is $217.07. The company has a market capitalization of $42.86 billion, a price-to-earnings ratio of 36.68, a PEG ratio of 1.90 and a beta of 0.72. L3Harris Technologies, Inc. has a twelve month low of $160.25 and a twelve month high of $245.60.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, July 25th. The company reported $3.24 EPS for the quarter, topping analysts’ consensus estimates of $3.18 by $0.06. The firm had revenue of $5.30 billion during the quarter, compared to the consensus estimate of $5.30 billion. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The company’s revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.97 earnings per share. As a group, sell-side analysts expect that L3Harris Technologies, Inc. will post 13.04 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be paid a dividend of $1.16 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.05%. L3Harris Technologies’s payout ratio is currently 75.32%.

Analyst Ratings Changes

Several research firms recently weighed in on LHX. Wells Fargo & Company dropped their target price on shares of L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 target price on shares of L3Harris Technologies in a report on Monday, July 29th. Barclays lifted their target price on shares of L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating and lifted their target price for the company from $245.00 to $257.00 in a report on Friday, July 26th. Finally, Susquehanna lifted their target price on shares of L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a report on Monday, July 29th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, L3Harris Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $238.50.

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.