Raymond James Trust N.A. Buys 122 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Raymond James Trust N.A. grew its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 0.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,182 shares of the company’s stock after acquiring an additional 122 shares during the quarter. Raymond James Trust N.A.’s holdings in L3Harris Technologies were worth $3,859,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of LHX. Boston Partners grew its holdings in shares of L3Harris Technologies by 107.2% during the fourth quarter. Boston Partners now owns 813,558 shares of the company’s stock valued at $171,343,000 after buying an additional 420,943 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of L3Harris Technologies by 40.0% in the fourth quarter. Victory Capital Management Inc. now owns 106,231 shares of the company’s stock worth $22,374,000 after purchasing an additional 30,358 shares during the last quarter. Stifel Financial Corp lifted its holdings in shares of L3Harris Technologies by 3.9% during the fourth 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 in the last quarter. Scout Investments Inc. increased its holdings in L3Harris Technologies by 59.4% in the 4th quarter. Scout Investments Inc. now owns 36,025 shares of the company’s stock worth $7,588,000 after buying an additional 13,423 shares in the last quarter. Finally, Wellington Management Group LLP raised its position 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 worth $930,288,000 after buying an additional 1,138,549 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Buying and Selling

In other L3Harris Technologies news, VP Sean J. Stackley sold 3,354 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $218.00, for a total value of $731,172.00. Following the completion of the transaction, the vice president now directly owns 17,540 shares in the company, valued at $3,823,720. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Sean J. Stackley sold 3,354 shares of L3Harris Technologies stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $218.00, for a total value of $731,172.00. Following the transaction, the vice president now owns 17,540 shares of the company’s stock, valued at approximately $3,823,720. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Christopher E. Kubasik sold 26,190 shares of the stock in a transaction on 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 sale, the chief executive officer now owns 120,326 shares of the company’s stock, valued at approximately $27,157,578.20. The disclosure for this sale can be found here. Insiders sold 84,312 shares of company stock worth $19,085,072 in the last three months. 0.82% of the stock is owned by insiders.

L3Harris Technologies Stock Up 0.1 %

L3Harris Technologies stock traded up $0.22 during midday trading on Monday, hitting $230.90. 17,742 shares of the company’s stock were exchanged, compared to its average volume of 968,810. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.74 and a current ratio of 0.90. The company has a market cap of $43.80 billion, a PE ratio of 37.45, a P/E/G ratio of 1.90 and a beta of 0.72. The firm has a 50-day moving average of $228.75 and a two-hundred day moving average of $219.15. L3Harris Technologies, Inc. has a 12 month low of $160.25 and a 12 month high of $245.60.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results 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. The firm 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 company’s revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.97 EPS. As a group, analysts expect that L3Harris Technologies, Inc. will post 13.04 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be given a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Friday, September 6th. L3Harris Technologies’s payout ratio is 75.32%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on LHX shares. Wells Fargo & Company decreased 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. Morgan Stanley cut L3Harris Technologies from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $275.00 to $257.00 in a report on Friday, August 9th. Barclays boosted their target price on shares of L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Susquehanna upped their price objective on L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research report on Monday, July 29th. Finally, Royal Bank of Canada downgraded L3Harris Technologies from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $250.00 to $240.00 in a research report on Wednesday, August 14th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $244.43.

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.