Ritholtz Wealth Management Purchases 423 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Ritholtz Wealth Management raised its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 27.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,978 shares of the company’s stock after acquiring an additional 423 shares during the period. Ritholtz Wealth Management’s holdings in L3Harris Technologies were worth $444,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in LHX. Boston Partners raised its position in L3Harris Technologies by 107.2% in the 4th quarter. Boston Partners now owns 813,558 shares of the company’s stock worth $171,343,000 after purchasing an additional 420,943 shares during the period. Victory Capital Management Inc. lifted its stake in shares of L3Harris Technologies by 40.0% in the 4th quarter. Victory Capital Management Inc. now owns 106,231 shares of the company’s stock valued at $22,374,000 after acquiring an additional 30,358 shares during the last quarter. Stifel Financial Corp boosted its holdings in L3Harris Technologies by 3.9% during the 4th quarter. Stifel Financial Corp now owns 175,895 shares of the company’s stock valued at $37,057,000 after acquiring an additional 6,675 shares during the period. Scout Investments Inc. grew its position in 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 acquiring an additional 13,423 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in L3Harris Technologies by 34.7% in the 4th 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 period. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Stock Up 0.5 %

Shares of L3Harris Technologies stock opened at $236.47 on Thursday. L3Harris Technologies, Inc. has a 1 year low of $160.25 and a 1 year high of $245.60. The firm has a market cap of $44.85 billion, a price-to-earnings ratio of 38.39, a PEG ratio of 1.96 and a beta of 0.73. The company has a 50-day moving average of $230.36 and a 200 day moving average of $220.40. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.90 and a quick ratio of 0.74.

L3Harris Technologies (NYSE:LHX) last announced its earnings results 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. 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 during the quarter, compared to the consensus estimate of $5.30 billion. During the same quarter last year, the firm earned $2.97 earnings per share. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. 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 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be paid a $1.16 dividend. The ex-dividend date is Friday, September 6th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.96%. L3Harris Technologies’s dividend payout ratio is currently 75.32%.

Insider Activity

In related news, VP Sean J. Stackley sold 3,354 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $218.00, for a total value of $731,172.00. Following the transaction, the vice president now owns 17,540 shares in the company, valued at approximately $3,823,720. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other L3Harris Technologies news, VP Sean J. Stackley sold 3,354 shares of L3Harris Technologies stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $218.00, for a total value of $731,172.00. Following the completion of the transaction, the vice president now directly owns 17,540 shares of the company’s stock, valued at $3,823,720. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Scott T. Mikuen sold 10,527 shares of the 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 sale, the senior vice president now owns 47,616 shares in the company, valued at approximately $10,951,680. The disclosure for this sale can be found here. Insiders sold 33,122 shares of company stock worth $7,612,739 over the last three months. 0.82% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on LHX. Morgan Stanley cut shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $275.00 to $257.00 in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft lowered shares of L3Harris Technologies from a “buy” rating to a “hold” rating and raised their price target for the stock from $245.00 to $257.00 in a report on Friday, July 26th. Susquehanna upped their price objective on shares of L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research note on Monday, July 29th. Barclays raised their target price on L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Finally, Royal Bank of Canada cut L3Harris Technologies from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $250.00 to $240.00 in a report on Wednesday, August 14th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $247.08.

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.