L3Harris Technologies, Inc. (NYSE:LHX) Shares Acquired by Milestone Asset Management LLC

Milestone Asset Management LLC boosted its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 89.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,034 shares of the company’s stock after acquiring an additional 2,374 shares during the period. Milestone Asset Management LLC’s holdings in L3Harris Technologies were worth $1,131,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Cross Staff Investments Inc boosted its stake in L3Harris Technologies by 12.4% in the fourth quarter. Cross Staff Investments Inc now owns 1,432 shares of the company’s stock valued at $302,000 after acquiring an additional 158 shares during the period. Boston Partners boosted its stake in L3Harris Technologies by 107.2% during the 4th quarter. Boston Partners now owns 813,558 shares of the company’s stock valued at $171,343,000 after purchasing an additional 420,943 shares during the period. Victory Capital Management Inc. boosted its stake in L3Harris Technologies by 40.0% during the 4th quarter. Victory Capital Management Inc. now owns 106,231 shares of the company’s stock valued at $22,374,000 after purchasing an additional 30,358 shares during the period. Stifel Financial Corp boosted its stake in L3Harris Technologies by 3.9% during the 4th quarter. Stifel Financial Corp now owns 175,895 shares of the company’s stock valued at $37,057,000 after purchasing an additional 6,675 shares during the period. Finally, Scout Investments Inc. boosted its stake in L3Harris Technologies by 59.4% during the 4th quarter. Scout Investments Inc. now owns 36,025 shares of the company’s stock valued at $7,588,000 after purchasing an additional 13,423 shares during the period. 84.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on LHX shares. Wells Fargo & Company reduced their target price on shares of L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. JPMorgan Chase & Co. boosted their target price on shares of L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Barclays upped their price target on shares of L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Morgan Stanley lowered shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $275.00 to $257.00 in a research note on Friday, August 9th. Finally, Royal Bank of Canada lowered shares of L3Harris Technologies from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from $250.00 to $240.00 in a research note on Wednesday, August 14th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $244.43.

L3Harris Technologies Stock Up 0.9 %

L3Harris Technologies stock traded up $1.97 during trading hours on Monday, hitting $230.47. The company had a trading volume of 413,392 shares, compared to its average volume of 986,608. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.90 and a quick ratio of 0.74. The firm has a market capitalization of $43.72 billion, a P/E ratio of 37.42, a price-to-earnings-growth ratio of 1.90 and a beta of 0.72. L3Harris Technologies, Inc. has a fifty-two week low of $160.25 and a fifty-two week high of $245.60. The firm’s fifty day moving average is $227.65 and its 200-day moving average is $218.37.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, July 25th. The company reported $3.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.18 by $0.06. The business 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%. L3Harris Technologies’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.97 EPS. On average, research analysts forecast that L3Harris Technologies, Inc. will post 13.04 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The business 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. This represents a $4.64 annualized dividend and a yield of 2.01%. The ex-dividend date is Friday, September 6th. L3Harris Technologies’s payout ratio is currently 75.32%.

Insider Activity at L3Harris Technologies

In related news, SVP Scott T. Mikuen sold 15,887 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $235.00, for a total transaction of $3,733,445.00. Following the completion of the transaction, the senior vice president now directly owns 47,616 shares in the company, valued at approximately $11,189,760. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, VP Sean J. Stackley sold 3,354 shares of the 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 transaction, the vice president now owns 14,186 shares in the company, valued at approximately $3,074,531.78. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Scott T. Mikuen sold 15,887 shares of the stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $235.00, for a total transaction of $3,733,445.00. Following the sale, the senior vice president now owns 47,616 shares of the company’s stock, valued at approximately $11,189,760. The disclosure for this sale can be found here. Insiders sold a total of 109,312 shares of company stock worth $24,712,822 in the last ninety days. 0.82% of the stock is currently owned by 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.