Ieq Capital LLC Grows Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Ieq Capital LLC boosted its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 23.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,308 shares of the company’s stock after acquiring an additional 2,560 shares during the quarter. Ieq Capital LLC’s holdings in L3Harris Technologies were worth $2,989,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. 9258 Wealth Management LLC raised its holdings in L3Harris Technologies by 20.0% during the 4th quarter. 9258 Wealth Management LLC now owns 4,371 shares of the company’s stock valued at $921,000 after buying an additional 727 shares during the last quarter. Rollins Financial bought a new position in shares of L3Harris Technologies during the fourth quarter valued at about $217,000. Gryphon Financial Partners LLC boosted its holdings in shares of L3Harris Technologies by 26.1% during the fourth quarter. Gryphon Financial Partners LLC now owns 1,808 shares of the company’s stock worth $384,000 after purchasing an additional 374 shares during the period. Assetmark Inc. grew its stake in shares of L3Harris Technologies by 11.4% in the fourth quarter. Assetmark Inc. now owns 17,664 shares of the company’s stock worth $3,720,000 after purchasing an additional 1,807 shares during the last quarter. Finally, Franklin Resources Inc. increased its holdings in L3Harris Technologies by 14.8% during the 4th quarter. Franklin Resources Inc. now owns 251,757 shares of the company’s stock valued at $53,025,000 after purchasing an additional 32,362 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on LHX. Susquehanna lifted their price objective on L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research report on Monday, July 29th. Royal Bank of Canada lowered shares of 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 report on Wednesday, August 14th. Barclays lifted their target price on shares of L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Morgan Stanley lowered shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $275.00 to $257.00 in a report on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft downgraded L3Harris Technologies from a “buy” rating to a “hold” rating and upped their target price for the stock from $245.00 to $257.00 in a report on Friday, July 26th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $247.08.

L3Harris Technologies Price Performance

LHX opened at $233.21 on Friday. The firm has a market cap of $44.24 billion, a PE ratio of 37.86, a P/E/G ratio of 1.95 and a beta of 0.73. The stock has a 50-day moving average price of $231.36 and a 200-day moving average price of $221.82. L3Harris Technologies, Inc. has a 1 year low of $160.25 and a 1 year high of $245.60. 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 issued its earnings results 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 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 analysts’ expectations of $5.30 billion. During the same period in the previous year, the company earned $2.97 earnings per share. The business’s revenue for the quarter was up 12.9% compared to the same quarter last year. Sell-side analysts predict that L3Harris Technologies, Inc. will post 13.06 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

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

Insider Transactions at L3Harris Technologies

In related news, 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 transaction of $707,199.84. Following the sale, the insider now directly owns 16,316 shares of the company’s stock, valued at $3,861,670.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, SVP Scott T. Mikuen sold 10,527 shares of the business’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 directly owns 47,616 shares of the company’s stock, valued at $10,951,680. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ross Niebergall sold 2,988 shares of the 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 transaction, the insider now owns 16,316 shares in the company, valued at approximately $3,861,670.88. The disclosure for this sale can be found here. Insiders sold 29,402 shares of company stock worth $6,861,855 over the last quarter. 0.82% of the stock is currently owned by insiders.

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.