L3Harris Technologies, Inc. (NYSE:LHX) Shares Purchased by Park Avenue Securities LLC

Park Avenue Securities LLC raised its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 3.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,526 shares of the company’s stock after purchasing an additional 176 shares during the period. Park Avenue Securities LLC’s holdings in L3Harris Technologies were worth $1,314,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of LHX. Meeder Asset Management Inc. grew its holdings in shares of L3Harris Technologies by 260.6% during 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 last quarter. Transcendent Capital Group LLC acquired a new stake in L3Harris Technologies in the fourth quarter worth $28,000. EntryPoint Capital LLC increased its position in L3Harris Technologies by 70.4% in the first quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock worth $36,000 after buying an additional 69 shares during the period. Versant Capital Management Inc boosted its holdings 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 valued at $41,000 after acquiring an additional 80 shares during the period. Finally, Family Firm Inc. bought a new position in shares of L3Harris Technologies during the second quarter worth about $45,000. 84.76% of the stock is owned by institutional investors and hedge funds.

L3Harris Technologies Stock Down 0.8 %

Shares of L3Harris Technologies stock opened at $241.66 on Tuesday. L3Harris Technologies, Inc. has a 12-month low of $169.55 and a 12-month high of $247.33. The firm has a market capitalization of $45.84 billion, a PE ratio of 39.23, a price-to-earnings-growth ratio of 2.04 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 stock’s fifty day moving average is $231.62 and its 200-day moving average is $223.66.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data 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 return on equity of 13.02% and a net margin of 5.73%. The firm had revenue of $5.30 billion for the quarter, compared to the consensus estimate of $5.30 billion. During the same quarter in the previous year, the company earned $2.97 EPS. The business’s revenue for the quarter was up 12.9% compared to the same quarter last year. Equities analysts anticipate that L3Harris Technologies, Inc. will post 13.06 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend was Friday, September 6th. L3Harris Technologies’s payout ratio is 75.32%.

Insider Buying and Selling at L3Harris Technologies

In other news, SVP Scott T. Mikuen sold 15,887 shares of the firm’s stock in a transaction on 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 completion of the sale, the senior vice president now owns 47,616 shares of the company’s stock, valued at $11,189,760. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, SVP Scott T. Mikuen sold 15,887 shares of the stock in a transaction that occurred on 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 directly owns 47,616 shares of the company’s stock, valued at $11,189,760. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Scott T. Mikuen sold 10,527 shares of the business’s stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 47,616 shares in the company, valued at $10,951,680. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,390 shares of company stock valued at $7,592,959 in the last three months. 0.82% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

LHX has been the topic of several recent research reports. Royal Bank of Canada downgraded shares of L3Harris Technologies from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $250.00 to $240.00 in a research report on Wednesday, August 14th. Susquehanna boosted their price objective on L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research report on Monday, July 29th. Barclays raised 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 reduced their price target on L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Finally, Morgan Stanley lowered L3Harris Technologies from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $275.00 to $257.00 in a report on Friday, August 9th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $246.54.

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.