Bradley Foster & Sargent Inc. CT Trims Position in L3Harris Technologies, Inc. (NYSE:LHX)

Bradley Foster & Sargent Inc. CT decreased its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 0.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 6,547 shares of the company’s stock after selling 48 shares during the period. Bradley Foster & Sargent Inc. CT’s holdings in L3Harris Technologies were worth $1,470,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of LHX. Meeder Asset Management Inc. lifted its stake 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 buying an additional 86 shares during the period. Transcendent Capital Group LLC purchased a new position in shares of L3Harris Technologies during the fourth quarter valued at approximately $28,000. EntryPoint Capital LLC lifted its stake in shares of L3Harris Technologies by 70.4% during the first quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock valued at $36,000 after buying an additional 69 shares during the period. Versant Capital Management Inc lifted its stake 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 buying an additional 80 shares during the period. Finally, Family Firm Inc. purchased a new position in L3Harris Technologies during the second quarter worth approximately $45,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

LHX opened at $229.71 on Thursday. The company has a fifty day simple moving average of $231.31 and a 200 day simple moving average of $221.59. The firm has a market cap of $43.57 billion, a price-to-earnings ratio of 37.29, a PEG ratio of 1.95 and a beta of 0.73. L3Harris Technologies, Inc. has a twelve month low of $160.25 and a twelve month high of $245.60. The company has a current ratio of 0.90, a quick ratio of 0.74 and a debt-to-equity ratio of 0.56.

L3Harris Technologies (NYSE:LHX) last released its quarterly 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. The business had revenue of $5.30 billion during the quarter, compared to analyst estimates of $5.30 billion. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The business’s revenue was up 12.9% on a year-over-year basis. During the same period last year, the business earned $2.97 EPS. Equities research analysts expect that L3Harris Technologies, Inc. will post 13.06 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be issued a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 2.02%. The ex-dividend date is Friday, September 6th. L3Harris Technologies’s dividend payout ratio is currently 75.32%.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $236.68, for a total transaction of $707,199.84. Following the completion of the transaction, the insider now directly owns 16,316 shares of the company’s stock, valued at approximately $3,861,670.88. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $236.68, for a total transaction of $707,199.84. Following the completion of the transaction, the insider now directly owns 16,316 shares of the company’s stock, valued at approximately $3,861,670.88. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Scott T. Mikuen sold 10,527 shares of the firm’s stock in a transaction on Thursday, July 11th. The stock was 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 of the company’s stock, valued at $10,951,680. The disclosure for this sale can be found here. Insiders sold a total of 29,402 shares of company stock valued at $6,861,855 in the last ninety days. Corporate insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on LHX shares. Morgan Stanley downgraded shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $275.00 to $257.00 in a research note on Friday, August 9th. Barclays increased their price target on shares of 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 cut their price target on shares of L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Royal Bank of Canada downgraded shares of L3Harris Technologies from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $250.00 to $240.00 in a research note on Wednesday, August 14th. Finally, Susquehanna increased their price objective on shares of L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research report on Monday, July 29th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.