L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Gradient Investments LLC

Gradient Investments LLC lowered its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 4.0% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 74,701 shares of the company’s stock after selling 3,141 shares during the quarter. Gradient Investments LLC’s holdings in L3Harris Technologies were worth $16,776,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Capital World Investors raised its stake in L3Harris Technologies by 26.0% in the 4th quarter. Capital World Investors now owns 16,056,272 shares of the company’s stock valued at $3,381,784,000 after purchasing an additional 3,308,506 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of L3Harris Technologies by 15.4% during the fourth 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 during the period. Mizuho Markets Americas LLC boosted its position in L3Harris Technologies by 990.3% during the fourth quarter. Mizuho Markets Americas LLC now owns 2,204,675 shares of the company’s stock worth $464,349,000 after acquiring an additional 2,002,475 shares during the last quarter. Norges Bank purchased a new stake in L3Harris Technologies in the 4th quarter worth approximately $325,147,000. Finally, Wellington Management Group LLP raised its holdings in L3Harris Technologies by 34.7% in the 4th quarter. Wellington Management Group LLP now owns 4,416,904 shares of the company’s stock valued at $930,288,000 after acquiring an additional 1,138,549 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on LHX. JPMorgan Chase & Co. lifted their price objective on L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Morgan Stanley cut L3Harris Technologies from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $275.00 to $257.00 in a report on Friday, August 9th. Alembic Global Advisors upgraded shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price objective on the stock in a report on Monday, April 22nd. Wells Fargo & Company lowered 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. Finally, Susquehanna increased their price target on shares of L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research note on Monday, July 29th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $244.43.

Insider Activity

In other news, CEO Christopher E. Kubasik sold 26,190 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $225.70, for a total value of $5,911,083.00. Following the transaction, the chief executive officer now directly owns 120,326 shares in the company, valued at approximately $27,157,578.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Christopher E. Kubasik sold 26,190 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $225.70, for a total value of $5,911,083.00. Following the sale, the chief executive officer now owns 120,326 shares of the company’s stock, valued at approximately $27,157,578.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Christopher E. Kubasik sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $222.45, for a total value of $5,561,250.00. Following the transaction, the chief executive officer now owns 120,326 shares of the company’s stock, valued at approximately $26,766,518.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 109,312 shares of company stock worth $24,712,822. 0.82% of the stock is currently owned by insiders.

L3Harris Technologies Stock Up 0.9 %

NYSE:LHX traded up $2.01 on Friday, reaching $228.50. The stock had a trading volume of 642,098 shares, compared to its average volume of 990,237. L3Harris Technologies, Inc. has a 12-month low of $160.25 and a 12-month high of $245.60. The stock has a market cap of $43.34 billion, a P/E ratio of 37.09, a price-to-earnings-growth 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. The company has a 50-day moving average of $227.65 and a 200 day moving average of $218.25.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, July 25th. The company reported $3.24 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $5.30 billion. During the same period last year, the business earned $2.97 EPS. The firm’s revenue for the quarter was up 12.9% compared to the same quarter last year. On average, research analysts predict that L3Harris Technologies, Inc. will post 13.04 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be issued a $1.16 dividend. The ex-dividend date is Friday, September 6th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.03%. L3Harris Technologies’s dividend payout ratio (DPR) is 75.32%.

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.