Godshalk Welsh Capital Management Inc. Lowers Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Godshalk Welsh Capital Management Inc. lessened its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 1.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,440 shares of the company’s stock after selling 50 shares during the period. Godshalk Welsh Capital Management Inc.’s holdings in L3Harris Technologies were worth $773,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in LHX. Vanguard Group Inc. lifted its stake in shares of L3Harris Technologies by 12.9% in the first quarter. Vanguard Group Inc. now owns 22,792,779 shares of the company’s stock worth $4,857,141,000 after acquiring an additional 2,606,267 shares in the last quarter. Capital World Investors raised its position in shares of L3Harris Technologies by 26.0% during the 4th quarter. Capital World Investors now owns 16,056,272 shares of the company’s stock worth $3,381,784,000 after purchasing an additional 3,308,506 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of L3Harris Technologies by 0.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,631,207 shares of the company’s stock worth $2,052,411,000 after purchasing an additional 45,845 shares during the period. Wellington Management Group LLP grew 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 worth $930,288,000 after buying an additional 1,138,549 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in L3Harris Technologies by 19.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,174,181 shares of the company’s stock worth $712,858,000 after buying an additional 523,315 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Performance

LHX opened at $230.46 on Friday. The firm has a market cap of $43.71 billion, a PE ratio of 37.41, 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. The business has a fifty day simple moving average of $231.31 and a 200-day simple moving average of $221.65. 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 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. The business had revenue of $5.30 billion during 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 revenue was up 12.9% compared to the same quarter last year. During the same period last year, the company posted $2.97 EPS. As a group, equities analysts predict that L3Harris Technologies, Inc. will post 13.06 EPS 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. 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 dividend payout ratio is presently 75.32%.

Insider Activity

In other news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $236.68, for a total value of $707,199.84. Following the completion of the sale, the insider now owns 16,316 shares in the company, valued at $3,861,670.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Scott T. Mikuen sold 10,527 shares of the stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $230.00, for a total value of $2,421,210.00. Following the completion of the sale, the senior vice president now owns 47,616 shares in the company, valued at $10,951,680. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ross Niebergall sold 2,988 shares of the stock in a transaction on 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 owns 16,316 shares of the company’s stock, valued at $3,861,670.88. The disclosure for this sale can be found here. Insiders sold 29,402 shares of company stock worth $6,861,855 over the last quarter. Corporate insiders own 0.82% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Barclays increased their price objective on L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Susquehanna increased their price objective on L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a report on Monday, July 29th. Wells Fargo & Company decreased their price objective on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Royal Bank of Canada lowered L3Harris Technologies from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $250.00 to $240.00 in a report on Wednesday, August 14th. Finally, Morgan Stanley lowered 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 research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $247.08.

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.