Bridges Investment Management Inc. Grows Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Bridges Investment Management Inc. boosted its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 813.1% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 9,158 shares of the company’s stock after buying an additional 8,155 shares during the period. Bridges Investment Management Inc.’s holdings in L3Harris Technologies were worth $2,057,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of LHX. Stifel Financial Corp raised 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 valued at $37,057,000 after purchasing an additional 6,675 shares during the period. Scout Investments Inc. lifted its holdings in shares of L3Harris Technologies by 59.4% in the fourth quarter. Scout Investments Inc. now owns 36,025 shares of the company’s stock worth $7,588,000 after buying an additional 13,423 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of L3Harris Technologies by 34.7% during the fourth quarter. Wellington Management Group LLP now owns 4,416,904 shares of the company’s stock worth $930,288,000 after acquiring an additional 1,138,549 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in L3Harris Technologies by 17.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 43,838 shares of the company’s stock valued at $9,845,000 after acquiring an additional 6,634 shares in the last quarter. Finally, Edgestream Partners L.P. increased its holdings in L3Harris Technologies by 151.6% in the 1st quarter. Edgestream Partners L.P. now owns 3,859 shares of the company’s stock valued at $822,000 after acquiring an additional 2,325 shares during the last quarter. 84.76% of the stock is owned by institutional investors.

Insider Transactions at L3Harris Technologies

In related news, SVP Scott T. Mikuen sold 10,527 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $230.00, for a total value of $2,421,210.00. Following the completion of the sale, the senior vice president now owns 47,616 shares in the company, valued at $10,951,680. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other L3Harris Technologies news, SVP Scott T. Mikuen sold 10,527 shares of L3Harris Technologies 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 completion of 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 filing with the SEC, which is available at the SEC website. Also, insider Ross Niebergall sold 2,988 shares of the stock in a transaction 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 transaction, the insider now directly owns 16,316 shares in the company, valued at approximately $3,861,670.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,402 shares of company stock valued at $6,861,855. 0.82% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on LHX. Royal Bank of Canada lowered 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. Wells Fargo & Company cut their price target on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Susquehanna increased their target price on L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating and upped their price target for the company from $245.00 to $257.00 in a research note on Friday, July 26th. Finally, Morgan Stanley cut shares of 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 equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $247.08.

L3Harris Technologies Stock Up 1.2 %

Shares of NYSE:LHX opened at $233.21 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.90 and a quick ratio of 0.74. The business has a 50 day simple moving average of $231.36 and a two-hundred day simple moving average of $221.77. L3Harris Technologies, Inc. has a 1 year low of $160.25 and a 1 year high of $245.60. The firm has a market capitalization of $44.24 billion, a PE ratio of 37.86, a price-to-earnings-growth ratio of 1.95 and a beta of 0.73.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, July 25th. The company reported $3.24 EPS for the quarter, beating 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 company had revenue of $5.30 billion for the quarter, compared to the consensus estimate of $5.30 billion. During the same quarter in the prior year, the company posted $2.97 EPS. L3Harris Technologies’s quarterly revenue was up 12.9% on a year-over-year basis. On average, equities analysts predict that L3Harris Technologies, Inc. will post 13.06 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were given a $1.16 dividend. The ex-dividend date was Friday, September 6th. This represents a $4.64 annualized dividend and a yield of 1.99%. L3Harris Technologies’s dividend payout ratio (DPR) is 75.32%.

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.