Amalgamated Bank Has $8.58 Million Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Amalgamated Bank trimmed its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 2.4% in the second quarter, according to its most recent filing with the SEC. The firm owned 38,206 shares of the company’s stock after selling 921 shares during the period. Amalgamated Bank’s holdings in L3Harris Technologies were worth $8,580,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Capital World Investors boosted its holdings in L3Harris Technologies by 26.0% during the fourth 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 in the last quarter. Vanguard Group Inc. boosted its stake in L3Harris Technologies by 15.4% in the 4th 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 in the last quarter. Wellington Management Group LLP grew its position in L3Harris Technologies by 34.7% in the fourth 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 period. Manning & Napier Advisors LLC acquired a new position in L3Harris Technologies during the second quarter worth $210,886,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of L3Harris Technologies by 54.5% during the first quarter. Bank of New York Mellon Corp now owns 2,650,866 shares of the company’s stock valued at $564,899,000 after acquiring an additional 934,935 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Stock Performance

LHX opened at $229.71 on Thursday. The firm has a 50 day simple moving average of $231.31 and a 200 day simple moving average of $221.59. 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 company has a market cap of $43.57 billion, a price-to-earnings ratio of 37.29, a price-to-earnings-growth ratio of 1.95 and a beta of 0.73. L3Harris Technologies, Inc. has a fifty-two week low of $160.25 and a fifty-two week high of $245.60.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, July 25th. The company reported $3.24 earnings per share for the quarter, beating the consensus estimate of $3.18 by $0.06. The firm had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.30 billion. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The company’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.97 earnings per share. On average, sell-side analysts anticipate that L3Harris Technologies, Inc. will post 13.06 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors 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 yield of 2.02%. The ex-dividend date is Friday, September 6th. L3Harris Technologies’s dividend payout ratio is currently 75.32%.

Insider Buying and Selling at L3Harris Technologies

In other news, SVP Scott T. Mikuen sold 15,887 shares of L3Harris Technologies 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 transaction, the senior vice president now directly owns 47,616 shares of the company’s stock, valued at $11,189,760. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, SVP Scott T. Mikuen sold 15,887 shares of the firm’s stock in a transaction on 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Scott T. Mikuen sold 10,527 shares of the business’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $230.00, for a total value of $2,421,210.00. Following the completion of the transaction, the senior vice president now directly owns 47,616 shares of the company’s stock, valued at $10,951,680. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,402 shares of company stock valued at $6,861,855. Corporate insiders own 0.82% of the company’s stock.

Analyst Upgrades and Downgrades

LHX has been the subject of a number of recent analyst reports. Wells Fargo & Company dropped 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 report on Wednesday, July 31st. Susquehanna boosted their target price on L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a report on Monday, July 29th. Royal Bank of Canada cut L3Harris Technologies from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $250.00 to $240.00 in a report on Wednesday, August 14th. Barclays boosted their price objective on L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Finally, Morgan Stanley lowered shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $275.00 to $257.00 in a report on Friday, August 9th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $247.08.

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.