L3Harris Technologies, Inc. (NYSE:LHX) Stock Position Decreased by King Luther Capital Management Corp

King Luther Capital Management Corp lowered its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 1.3% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 356,124 shares of the company’s stock after selling 4,825 shares during the period. King Luther Capital Management Corp owned about 0.19% of L3Harris Technologies worth $79,978,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Stifel Financial Corp grew its stake in L3Harris Technologies by 3.9% during the 4th quarter. Stifel Financial Corp now owns 175,895 shares of the company’s stock worth $37,057,000 after buying an additional 6,675 shares during the last quarter. Scout Investments Inc. increased its holdings in shares of L3Harris Technologies by 59.4% in 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 period. Wellington Management Group LLP lifted its position 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 valued at $930,288,000 after purchasing an additional 1,138,549 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in L3Harris Technologies by 17.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 43,838 shares of the company’s stock valued at $9,845,000 after purchasing an additional 6,634 shares during the period. Finally, Edgestream Partners L.P. grew its position in L3Harris Technologies by 151.6% in the 1st quarter. Edgestream Partners L.P. now owns 3,859 shares of the company’s stock worth $822,000 after purchasing an additional 2,325 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

LHX has been the subject of several analyst reports. Barclays boosted their price objective on L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Wells Fargo & Company reduced their price target on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. 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 report on Friday, July 26th. Royal Bank of Canada cut L3Harris Technologies from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $250.00 to $240.00 in a report on Wednesday, August 14th. Finally, Morgan Stanley downgraded 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. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $247.08.

Insider Buying and Selling

In other L3Harris Technologies news, SVP Scott T. Mikuen sold 10,527 shares of the business’s stock in a transaction 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 directly owns 47,616 shares of the company’s stock, valued at approximately $10,951,680. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Ross Niebergall sold 2,988 shares of the firm’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 transaction of $707,199.84. Following the completion of the sale, the insider now directly owns 16,316 shares in the company, valued at $3,861,670.88. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Scott T. Mikuen sold 10,527 shares of the company’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 completion of the transaction, 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. In the last 90 days, insiders sold 29,402 shares of company stock valued at $6,861,855. Company insiders own 0.82% of the company’s stock.

L3Harris Technologies Stock Up 0.3 %

Shares of L3Harris Technologies stock opened at $230.46 on Friday. 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 12-month low of $160.25 and a 12-month high of $245.60. The firm has a market capitalization of $43.71 billion, a PE ratio of 37.41, a price-to-earnings-growth ratio of 1.95 and a beta of 0.73. The stock’s fifty day moving average is $231.31 and its 200-day moving average is $221.65.

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 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be given a $1.16 dividend. The ex-dividend date is Friday, September 6th. This represents a $4.64 annualized dividend and a dividend yield of 2.01%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

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.