Creative Planning Decreases Position in L3Harris Technologies, Inc. (NYSE:LHX)

Creative Planning lessened its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 2.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 41,076 shares of the company’s stock after selling 1,035 shares during the period. Creative Planning’s holdings in L3Harris Technologies were worth $9,225,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Scout Investments Inc. boosted its stake in shares of L3Harris Technologies by 59.4% during the 4th quarter. Scout Investments Inc. now owns 36,025 shares of the company’s stock worth $7,588,000 after purchasing an additional 13,423 shares during the period. Wellington Management Group LLP boosted its position in shares of L3Harris Technologies by 34.7% during 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 during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of L3Harris Technologies by 17.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 43,838 shares of the company’s stock valued at $9,845,000 after buying an additional 6,634 shares during the last quarter. Edgestream Partners L.P. raised its holdings in shares of L3Harris Technologies by 151.6% in the first quarter. Edgestream Partners L.P. now owns 3,859 shares of the company’s stock worth $822,000 after buying an additional 2,325 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of L3Harris Technologies by 0.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,585,362 shares of the company’s stock worth $2,018,870,000 after acquiring an additional 40,448 shares during the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Ross Niebergall sold 2,988 shares of the firm’s 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 transaction, the insider now owns 16,316 shares in the company, valued at approximately $3,861,670.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Scott T. Mikuen sold 15,887 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $235.00, for a total value of $3,733,445.00. Following the sale, the senior vice president now owns 47,616 shares in the company, valued at $11,189,760. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies 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 transaction, 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 have sold 29,402 shares of company stock valued at $6,861,855 over the last ninety days. 0.82% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on LHX. Susquehanna increased their target price on L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research note on Monday, July 29th. Morgan Stanley cut L3Harris Technologies from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $275.00 to $257.00 in a research note on Friday, August 9th. Barclays lifted their target price on L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft lowered 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. Finally, Wells Fargo & Company lowered their price objective on shares of L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, L3Harris Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $247.08.

L3Harris Technologies Trading Up 3.1 %

NYSE:LHX opened at $245.29 on Wednesday. The firm has a 50 day moving average of $231.19 and a 200 day moving average of $222.98. The company has a quick ratio of 0.74, a current ratio of 0.90 and a debt-to-equity ratio of 0.56. L3Harris Technologies, Inc. has a 52 week low of $160.25 and a 52 week high of $247.33. The stock has a market capitalization of $46.53 billion, a price-to-earnings ratio of 39.82, a PEG ratio of 2.04 and a beta of 0.73.

L3Harris Technologies (NYSE:LHX) last announced its earnings results 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 firm had revenue of $5.30 billion for the quarter, compared to the consensus estimate of $5.30 billion. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The firm’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period in the previous year, the business earned $2.97 EPS. As a group, sell-side analysts anticipate that L3Harris Technologies, Inc. will post 13.06 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend was Friday, September 6th. This represents a $4.64 annualized dividend and a dividend yield of 1.89%. L3Harris Technologies’s payout ratio is currently 75.32%.

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.