Clayton Partners LLC Sells 169 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Clayton Partners LLC reduced its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 1.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 15,880 shares of the company’s stock after selling 169 shares during the period. L3Harris Technologies comprises 2.9% of Clayton Partners LLC’s portfolio, making the stock its 14th biggest position. Clayton Partners LLC’s holdings in L3Harris Technologies were worth $3,566,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Meeder Asset Management Inc. boosted 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 purchasing an additional 86 shares during the period. Transcendent Capital Group LLC bought a new position in L3Harris Technologies in the 4th quarter worth about $28,000. EntryPoint Capital LLC increased its position in shares of L3Harris Technologies by 70.4% during the first quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock worth $36,000 after acquiring an additional 69 shares during the period. Versant Capital Management Inc raised 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 acquiring an additional 80 shares in the last quarter. Finally, Family Firm Inc. purchased a new stake in shares of L3Harris Technologies in the second quarter valued at approximately $45,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, SVP Scott T. Mikuen sold 15,887 shares of L3Harris Technologies stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $235.00, for a total transaction of $3,733,445.00. Following the completion of the sale, the senior vice president now directly owns 47,616 shares in the company, valued at approximately $11,189,760. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the business’s stock in a transaction that occurred 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 directly owns 16,316 shares of the company’s stock, valued at $3,861,670.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Scott T. Mikuen sold 15,887 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $235.00, for a total transaction of $3,733,445.00. Following the sale, the senior vice president now directly owns 47,616 shares in the company, valued at approximately $11,189,760. The disclosure for this sale can be found here. Insiders have sold a total of 29,402 shares of company stock worth $6,861,855 over the last quarter. Insiders own 0.82% of the company’s stock.

L3Harris Technologies Stock Performance

LHX opened at $233.21 on Friday. The firm’s 50-day moving average price is $231.36 and its 200-day moving average price is $221.77. The company has a market cap of $44.24 billion, a P/E ratio of 37.86, a price-to-earnings-growth ratio of 1.95 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. L3Harris Technologies, Inc. has a 52-week low of $160.25 and a 52-week high of $245.60.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, July 25th. The company reported $3.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.18 by $0.06. The business had revenue of $5.30 billion for 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%. L3Harris Technologies’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.97 EPS. As a group, equities analysts anticipate that L3Harris Technologies, Inc. will post 13.06 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were issued a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date was Friday, September 6th. L3Harris Technologies’s dividend payout ratio (DPR) is 75.32%.

Analysts Set New Price Targets

Several research analysts have commented on the company. Wells Fargo & Company decreased their target price 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. Barclays upped their price target on shares of L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft cut L3Harris Technologies from a “buy” rating to a “hold” rating and increased their target price for the company from $245.00 to $257.00 in a research report on Friday, July 26th. Royal Bank of Canada cut L3Harris Technologies from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $250.00 to $240.00 in a research note on Wednesday, August 14th. Finally, Susquehanna raised their price objective on L3Harris Technologies from $260.00 to $270.00 and gave the company 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 issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.