Brighton Jones LLC Acquires 55 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Brighton Jones LLC grew its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 3.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,616 shares of the company’s stock after buying an additional 55 shares during the quarter. Brighton Jones LLC’s holdings in L3Harris Technologies were worth $363,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in L3Harris Technologies by 12.9% in the 1st quarter. Vanguard Group Inc. now owns 22,792,779 shares of the company’s stock worth $4,857,141,000 after purchasing an additional 2,606,267 shares during the period. Capital World Investors raised 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 acquiring an additional 3,308,506 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in L3Harris Technologies by 0.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,631,207 shares of the company’s stock valued at $2,052,411,000 after acquiring an additional 45,845 shares during the period. Wellington Management Group LLP increased its holdings in shares of L3Harris Technologies by 34.7% in the fourth quarter. Wellington Management Group LLP now owns 4,416,904 shares of the company’s stock worth $930,288,000 after purchasing an additional 1,138,549 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of L3Harris Technologies by 19.7% in the second quarter. Bank of New York Mellon Corp now owns 3,174,181 shares of the company’s stock worth $712,858,000 after purchasing an additional 523,315 shares during the last quarter. 84.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. 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. Wells Fargo & Company lowered their price target 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 lowered their target price for the stock from $250.00 to $240.00 in a report on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft lowered L3Harris Technologies from a “buy” rating to a “hold” rating and upped their target price for the stock from $245.00 to $257.00 in a report on Friday, July 26th. Finally, Susquehanna upped their price target on L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research report on Monday, July 29th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $247.08.

L3Harris Technologies Price Performance

NYSE:LHX opened at $233.21 on Monday. L3Harris Technologies, Inc. has a one year low of $160.25 and a one year high of $245.60. 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 firm has a market cap of $44.24 billion, a price-to-earnings ratio of 37.86, a PEG ratio of 1.95 and a beta of 0.73. The firm’s fifty day moving average is $231.36 and its two-hundred day moving average is $221.87.

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

L3Harris Technologies Dividend Announcement

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

Insider Activity at L3Harris Technologies

In related news, SVP Scott T. Mikuen sold 10,527 shares of the firm’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 transaction, the senior vice president now directly owns 47,616 shares of the company’s stock, valued at approximately $10,951,680. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other L3Harris Technologies news, SVP Scott T. Mikuen sold 15,887 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $235.00, for a total value of $3,733,445.00. Following the completion of the sale, the senior vice president now owns 47,616 shares in the company, valued at approximately $11,189,760. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Scott T. Mikuen sold 10,527 shares of the stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $230.00, for a total transaction of $2,421,210.00. Following the completion of the sale, the senior vice president now owns 47,616 shares of the company’s stock, valued at approximately $10,951,680. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,402 shares of company stock valued at $6,861,855. 0.82% of the stock is owned by corporate insiders.

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.