Mercer Global Advisors Inc. ADV Acquires 52 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Mercer Global Advisors Inc. ADV lifted its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 0.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,033 shares of the company’s stock after purchasing an additional 52 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in L3Harris Technologies were worth $5,173,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Capital World Investors increased its stake in shares of L3Harris Technologies by 26.0% during the fourth quarter. Capital World Investors now owns 16,056,272 shares of the company’s stock valued at $3,381,784,000 after buying an additional 3,308,506 shares during the period. Vanguard Group Inc. raised its holdings in shares of L3Harris Technologies by 15.4% in the 4th quarter. Vanguard Group Inc. now owns 20,186,512 shares of the company’s stock valued at $4,251,683,000 after purchasing an additional 2,692,771 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of L3Harris Technologies by 34.7% in the 4th quarter. Wellington Management Group LLP now owns 4,416,904 shares of the company’s stock worth $930,288,000 after purchasing an additional 1,138,549 shares during the period. Manning & Napier Advisors LLC bought a new position in shares of L3Harris Technologies during the second quarter valued at approximately $210,886,000. Finally, Bank of New York Mellon Corp increased its holdings in L3Harris Technologies by 54.5% during the first quarter. Bank of New York Mellon Corp now owns 2,650,866 shares of the company’s stock valued at $564,899,000 after buying an additional 934,935 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insiders Place Their Bets

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 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 directly owns 47,616 shares in the company, valued at $10,951,680. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Scott T. Mikuen sold 10,527 shares of L3Harris Technologies stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $230.00, for a total value of $2,421,210.00. Following the sale, the senior vice president now owns 47,616 shares of the company’s stock, valued at approximately $10,951,680. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ross Niebergall sold 2,988 shares of the company’s 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 transaction, the insider now owns 16,316 shares of the company’s stock, valued at $3,861,670.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,402 shares of company stock worth $6,861,855. 0.82% of the stock is owned by corporate insiders.

L3Harris Technologies Trading Up 1.2 %

NYSE LHX opened at $233.21 on Friday. 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. The company has a market capitalization 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 company has a fifty day moving average of $231.36 and a 200 day moving average of $221.82.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, July 25th. The company reported $3.24 EPS for the quarter, topping analysts’ consensus estimates of $3.18 by $0.06. The firm had revenue of $5.30 billion for the quarter, compared to the consensus estimate of $5.30 billion. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The company’s revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.97 earnings per share. Research analysts forecast that L3Harris Technologies, Inc. will post 13.06 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were given 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 of this dividend was Friday, September 6th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on LHX shares. Susquehanna upped their target price on L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a report on Monday, July 29th. Morgan Stanley downgraded L3Harris Technologies from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $275.00 to $257.00 in a research report on Friday, August 9th. Barclays boosted their target price on shares of L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft cut shares of 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. Finally, Wells Fargo & Company reduced their price objective on shares of L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, L3Harris Technologies currently has an average rating of “Moderate Buy” and an average target price of $247.08.

About L3Harris Technologies

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.