Beacon Pointe Advisors LLC Decreases Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Beacon Pointe Advisors LLC lessened its stake in L3Harris Technologies, Inc. (NYSE:LHXGet Rating) by 10.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,094 shares of the company’s stock after selling 785 shares during the quarter. Beacon Pointe Advisors LLC’s holdings in L3Harris Technologies were worth $1,711,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cowa LLC acquired a new position in shares of L3Harris Technologies in the 1st quarter valued at approximately $26,000. Crewe Advisors LLC acquired a new position in shares of L3Harris Technologies in the 2nd quarter valued at approximately $30,000. Wagner Wealth Management LLC acquired a new position in shares of L3Harris Technologies in the 2nd quarter valued at approximately $32,000. Apeiron RIA LLC acquired a new position in shares of L3Harris Technologies in the 2nd quarter valued at approximately $33,000. Finally, Sound Income Strategies LLC raised its position in shares of L3Harris Technologies by 333.3% in the 2nd quarter. Sound Income Strategies LLC now owns 156 shares of the company’s stock valued at $38,000 after purchasing an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 83.00% of the company’s stock.

Insider Transactions at L3Harris Technologies

In other news, VP James P. Girard sold 5,000 shares of the stock in a transaction on Tuesday, November 8th. The stock was sold at an average price of $229.38, for a total value of $1,146,900.00. Following the completion of the transaction, the vice president now owns 7,144 shares of the company’s stock, valued at $1,638,690.72. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Christopher E. Kubasik sold 20,000 shares of the firm’s stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $245.22, for a total transaction of $4,904,400.00. Following the completion of the transaction, the chief executive officer now owns 98,926 shares of the company’s stock, valued at $24,258,633.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP James P. Girard sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $229.38, for a total value of $1,146,900.00. Following the transaction, the vice president now directly owns 7,144 shares of the company’s stock, valued at approximately $1,638,690.72. The disclosure for this sale can be found here. Over the last quarter, insiders sold 37,460 shares of company stock valued at $8,792,500. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on LHX shares. Wolfe Research began coverage on L3Harris Technologies in a research report on Monday, October 10th. They issued a “peer perform” rating on the stock. Wells Fargo & Company lowered L3Harris Technologies from an “overweight” rating to an “equal weight” rating and set a $238.00 price target on the stock. in a research report on Wednesday, September 28th. Royal Bank of Canada began coverage on L3Harris Technologies in a research report on Monday, August 29th. They set an “outperform” rating and a $285.00 price target on the stock. Raymond James lowered L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research report on Friday, October 28th. Finally, StockNews.com began coverage on L3Harris Technologies in a research report on Wednesday, October 12th. They set a “buy” rating on the stock. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $269.42.

L3Harris Technologies Price Performance

Shares of LHX opened at $226.43 on Thursday. The company has a market cap of $43.11 billion, a P/E ratio of 39.31, a PEG ratio of 6.47 and a beta of 0.75. The stock has a fifty day moving average price of $229.46 and a 200 day moving average price of $232.50. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.10 and a quick ratio of 0.87. L3Harris Technologies, Inc. has a 12 month low of $200.71 and a 12 month high of $279.71.

L3Harris Technologies (NYSE:LHXGet Rating) last issued its quarterly earnings data on Thursday, October 27th. The company reported $3.26 EPS for the quarter, missing analysts’ consensus estimates of $3.47 by ($0.21). The company had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $4.41 billion. L3Harris Technologies had a return on equity of 13.18% and a net margin of 6.71%. L3Harris Technologies’s quarterly revenue was up .4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.21 earnings per share. On average, research analysts forecast that L3Harris Technologies, Inc. will post 12.86 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Friday, November 18th will be paid a $1.12 dividend. The ex-dividend date of this dividend is Thursday, November 17th. This represents a $4.48 annualized dividend and a dividend yield of 1.98%. L3Harris Technologies’s payout ratio is 77.78%.

About L3Harris Technologies

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L3Harris Technologies, Inc, an aerospace and defense technology company, provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides multi-mission intelligence, surveillance, and reconnaissance (ISR) systems; and communication systems, as well as fleet management support, sensor development, modification, and periodic depot maintenance services for ISR and airborne missions.

Further Reading

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Institutional Ownership by Quarter for L3Harris Technologies (NYSE:LHX)

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