L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by LVW Advisors LLC

LVW Advisors LLC lowered its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 24.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,599 shares of the company’s stock after selling 527 shares during the quarter. LVW Advisors LLC’s holdings in L3Harris Technologies were worth $359,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of LHX. Bfsg LLC acquired a new stake in shares of L3Harris Technologies in the first quarter valued at about $25,000. Transcendent Capital Group LLC acquired a new stake in shares of L3Harris Technologies in the 4th quarter worth approximately $28,000. EntryPoint Capital LLC increased its stake in 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 raised its holdings in 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, Sachetta LLC purchased a new stake in L3Harris Technologies during the fourth quarter worth $49,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Trading Down 0.8 %

Shares of LHX stock traded down $1.79 during trading hours on Tuesday, hitting $227.04. 44,503 shares of the company were exchanged, compared to its average volume of 990,118. L3Harris Technologies, Inc. has a 1 year low of $160.25 and a 1 year high of $245.60. The firm has a fifty day moving average of $227.36 and a 200 day moving average of $217.87. The firm has a market cap of $43.06 billion, a PE ratio of 37.15, a PEG ratio of 1.90 and a beta of 0.72. The company has a quick ratio of 0.74, a current ratio of 0.90 and a debt-to-equity ratio of 0.56.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, July 25th. The company reported $3.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.18 by $0.06. The company had revenue of $5.30 billion during the quarter, compared to analysts’ expectations of $5.30 billion. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The business’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the previous year, the company earned $2.97 EPS. Analysts expect that L3Harris Technologies, Inc. will post 13.04 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be issued a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date is Friday, September 6th. L3Harris Technologies’s payout ratio is currently 75.32%.

Analyst Ratings Changes

Several research analysts have recently issued reports on LHX shares. Susquehanna lifted their price target on L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research note on Monday, July 29th. Barclays lifted their target price on shares of L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Morgan Stanley cut shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $275.00 to $257.00 in a research note on Friday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 target price on shares of L3Harris Technologies in a research note on Monday, July 29th. Finally, Alembic Global Advisors raised L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price target for the company in a report on Monday, April 22nd. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $245.14.

Insider Buying and Selling

In other L3Harris Technologies news, SVP Scott T. Mikuen sold 10,527 shares of the business’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 $10,951,680. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other L3Harris Technologies news, SVP Scott T. Mikuen sold 15,887 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 47,616 shares in the company, valued at approximately $11,189,760. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 stock was sold at an average price of $230.00, for a total transaction of $2,421,210.00. Following the transaction, the senior vice president now directly owns 47,616 shares in the company, valued at $10,951,680. The disclosure for this sale can be found here. In the last quarter, insiders sold 109,312 shares of company stock valued at $24,712,822. 0.82% of the stock is currently owned by corporate insiders.

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.