Mutual of America Capital Management LLC Has $5.37 Million Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Mutual of America Capital Management LLC lowered its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 38.7% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 23,891 shares of the company’s stock after selling 15,100 shares during the period. Mutual of America Capital Management LLC’s holdings in L3Harris Technologies were worth $5,365,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Capital World Investors raised its stake in 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. increased its position in L3Harris Technologies by 15.4% during the 4th quarter. Vanguard Group Inc. now owns 20,186,512 shares of the company’s stock worth $4,251,683,000 after purchasing an additional 2,692,771 shares in the last quarter. Wellington Management Group LLP boosted 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 buying an additional 1,138,549 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of L3Harris Technologies during the second quarter worth $210,886,000. Finally, Bank of New York Mellon Corp increased 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 worth $564,899,000 after buying an additional 934,935 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

LHX has been the topic of several recent research reports. Barclays raised their price objective on L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Susquehanna boosted their price target on L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a report on Monday, July 29th. Morgan Stanley lowered shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $275.00 to $257.00 in a report on Friday, August 9th. Royal Bank of Canada lowered shares of L3Harris Technologies from an “outperform” rating to a “sector perform” rating and reduced their target price for the stock from $250.00 to $240.00 in a report on Wednesday, August 14th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating and raised their price target for the company from $245.00 to $257.00 in a research note on Friday, July 26th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $247.08.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction that occurred 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 transaction, 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 can be accessed through the SEC website. In other news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were 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 approximately $3,861,670.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Scott T. Mikuen sold 15,887 shares of the firm’s stock in a transaction dated 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 in the company, valued at $11,189,760. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,402 shares of company stock worth $6,861,855. Insiders own 0.82% of the company’s stock.

L3Harris Technologies Stock Up 1.2 %

LHX stock opened at $233.21 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.74 and a current ratio of 0.90. L3Harris Technologies, Inc. has a fifty-two week low of $160.25 and a fifty-two week high of $245.60. The stock’s 50 day simple moving average is $231.36 and its 200 day simple moving average is $221.77. The company has a market cap of $44.24 billion, a P/E ratio of 37.86, a price-to-earnings-growth ratio of 1.95 and a beta of 0.73.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, July 25th. The company reported $3.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.18 by $0.06. The company had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.30 billion. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. L3Harris Technologies’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period last year, the business earned $2.97 EPS. On average, research analysts expect that L3Harris Technologies, Inc. will post 13.06 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were given a $1.16 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $4.64 annualized dividend and a yield of 1.99%. L3Harris Technologies’s payout ratio is 75.32%.

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.