Moloney Securities Asset Management LLC Decreases Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Moloney Securities Asset Management LLC trimmed its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 25.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,855 shares of the company’s stock after selling 953 shares during the quarter. Moloney Securities Asset Management LLC’s holdings in L3Harris Technologies were worth $641,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Bfsg LLC acquired a new position in shares of L3Harris Technologies in the 1st quarter valued at approximately $25,000. Transcendent Capital Group LLC bought a new stake in shares of L3Harris Technologies in the 4th quarter worth about $28,000. EntryPoint Capital LLC raised its stake in shares of 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 purchasing an additional 69 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of L3Harris Technologies by 77.7% during the second quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock worth $41,000 after purchasing an additional 80 shares during the last quarter. Finally, Family Firm Inc. acquired a new position in L3Harris Technologies in the second quarter worth about $45,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

Shares of NYSE:LHX opened at $236.67 on Friday. The firm’s 50 day moving average is $229.44 and its two-hundred day moving average is $219.62. The firm has a market capitalization of $44.89 billion, a P/E ratio of 38.42, a PEG ratio of 1.90 and a beta of 0.72. The company has a current ratio of 0.90, a quick ratio of 0.74 and a debt-to-equity ratio of 0.56. L3Harris Technologies, Inc. has a 52 week low of $160.25 and a 52 week high of $245.60.

L3Harris Technologies (NYSE:LHX) last posted 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 return on equity of 13.02% and a net margin of 5.73%. The firm had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.30 billion. During the same period last year, the firm earned $2.97 EPS. The firm’s revenue was up 12.9% compared to the same quarter last year. Analysts anticipate that L3Harris Technologies, Inc. will post 13.04 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be issued a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Friday, September 6th. L3Harris Technologies’s payout ratio is currently 75.32%.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, VP Sean J. Stackley sold 3,354 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $216.73, for a total transaction of $726,912.42. Following the sale, the vice president now directly owns 14,186 shares in the company, valued at approximately $3,074,531.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other L3Harris Technologies news, VP Sean J. Stackley sold 3,354 shares of the stock in a transaction on Monday, June 17th. The stock was 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 directly owns 14,186 shares of the company’s stock, valued at approximately $3,074,531.78. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Scott T. Mikuen sold 15,887 shares of the business’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $235.00, for a total value of $3,733,445.00. Following the completion of the sale, the senior vice president now directly owns 47,616 shares in the company, valued at approximately $11,189,760. The disclosure for this sale can be found here. Insiders sold 59,312 shares of company stock worth $13,523,822 in the last 90 days. Corporate insiders own 0.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Susquehanna increased their target price on L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a report on Monday, July 29th. Wells Fargo & Company decreased their price objective 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. Morgan Stanley lowered shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $275.00 to $257.00 in a research note on Friday, August 9th. Barclays lifted their price target 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. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating and boosted their price objective for the company from $245.00 to $257.00 in a research report on Friday, July 26th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, L3Harris Technologies presently has an average rating of “Moderate Buy” and an average target price of $247.08.

About L3Harris Technologies

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.