Summit Trail Advisors LLC Raises Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Summit Trail Advisors LLC lifted its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 4.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,172 shares of the company’s stock after acquiring an additional 196 shares during the quarter. Summit Trail Advisors LLC’s holdings in L3Harris Technologies were worth $937,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in LHX. Meeder Asset Management Inc. raised its position in shares of L3Harris Technologies by 260.6% in the second quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock valued at $27,000 after purchasing an additional 86 shares during the period. Transcendent Capital Group LLC purchased a new position in L3Harris Technologies in the 4th quarter valued at approximately $28,000. EntryPoint Capital LLC raised its holdings in L3Harris Technologies by 70.4% during the 1st quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock valued at $36,000 after acquiring an additional 69 shares during the period. Versant Capital Management Inc lifted its position in shares of L3Harris Technologies by 77.7% during the second quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock worth $41,000 after acquiring an additional 80 shares in the last quarter. Finally, Family Firm Inc. bought a new position in shares of L3Harris Technologies in the second quarter worth $45,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Trading Up 1.2 %

NYSE LHX opened at $233.21 on Monday. 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 stock’s 50-day simple moving average is $231.36 and its two-hundred day simple moving average is $221.87. L3Harris Technologies, Inc. has a twelve month low of $160.25 and a twelve month high of $245.60. The company has a market capitalization of $44.24 billion, a price-to-earnings ratio of 37.86, a PEG ratio of 1.95 and a beta of 0.73.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, July 25th. The company reported $3.24 earnings per share for the quarter, beating 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 revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period last year, the firm posted $2.97 EPS. Research analysts forecast that L3Harris Technologies, Inc. will post 13.06 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were paid a $1.16 dividend. The ex-dividend date was Friday, September 6th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.99%. L3Harris Technologies’s dividend payout ratio (DPR) is 75.32%.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the business’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 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 is accessible through the SEC website. In related news, SVP Scott T. Mikuen sold 15,887 shares of the firm’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 47,616 shares in the company, valued at approximately $11,189,760. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Ross Niebergall sold 2,988 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $3,861,670.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,402 shares of company stock valued at $6,861,855. Insiders own 0.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of 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 raised their price objective on shares of L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research report on Monday, July 29th. Royal Bank of Canada lowered shares of L3Harris Technologies from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $250.00 to $240.00 in a report on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft cut shares of 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 note on Friday, July 26th. Finally, Wells Fargo & Company reduced their price target 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. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, L3Harris Technologies has an average rating of “Moderate Buy” and an average price target 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.