Caprock Group LLC Acquires Shares of 1,155 L3Harris Technologies, Inc. (NYSE:LHX)

Caprock Group LLC acquired a new stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,155 shares of the company’s stock, valued at approximately $260,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Capital World Investors lifted its position in shares of L3Harris Technologies by 26.0% during the fourth quarter. Capital World Investors now owns 16,056,272 shares of the company’s stock worth $3,381,784,000 after acquiring an additional 3,308,506 shares in the last quarter. Vanguard Group Inc. lifted its position 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 worth $4,251,683,000 after acquiring an additional 2,692,771 shares in the last quarter. Mizuho Markets Americas LLC lifted its position in shares of 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 in the last quarter. Norges Bank purchased a new stake in shares of L3Harris Technologies during the fourth quarter worth $325,147,000. Finally, Wellington Management Group LLP lifted its position in shares of L3Harris Technologies by 34.7% during the fourth quarter. Wellington Management Group LLP now owns 4,416,904 shares of the company’s stock worth $930,288,000 after acquiring an additional 1,138,549 shares in the last quarter. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies Stock Up 0.7 %

LHX opened at $229.77 on Friday. The stock has a market cap of $43.58 billion, a PE ratio of 37.30, a P/E/G ratio of 1.95 and a beta of 0.73. 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, Inc. has a 52 week low of $160.25 and a 52 week high of $245.60. The business’s fifty day simple moving average is $231.07 and its 200 day simple moving average is $221.13.

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 analysts’ consensus estimates of $3.18 by $0.06. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The firm had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.30 billion. During the same period last year, the firm earned $2.97 earnings per share. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. As a group, research analysts expect that L3Harris Technologies, Inc. will post 13.06 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be paid a dividend of $1.16 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.02%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 75.32%.

Insider Activity

In other news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $236.68, for a total transaction of $707,199.84. Following the transaction, the insider now directly owns 16,316 shares of the company’s stock, valued at $3,861,670.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $236.68, for a total value of $707,199.84. Following the sale, the insider now directly owns 16,316 shares of the company’s stock, valued at $3,861,670.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Sean J. Stackley sold 3,354 shares of the firm’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $216.73, for a total value of $726,912.42. Following the completion of the sale, the vice president now directly owns 14,186 shares in the company, valued at $3,074,531.78. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,756 shares of company stock valued at $7,588,767. 0.82% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on LHX. Deutsche Bank Aktiengesellschaft downgraded L3Harris Technologies from a “buy” rating to a “hold” rating and increased their target price for the stock from $245.00 to $257.00 in a research report on Friday, July 26th. Barclays increased their price objective on L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Wells Fargo & Company lowered their price objective on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Morgan Stanley downgraded L3Harris Technologies from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $275.00 to $257.00 in a research report on Friday, August 9th. Finally, Royal Bank of Canada downgraded L3Harris Technologies from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $250.00 to $240.00 in a research report on Wednesday, August 14th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, L3Harris Technologies has an average rating of “Moderate Buy” and an average price target of $247.08.

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.