L3Harris Technologies, Inc. (NYSE:LHX) Shares Purchased by Benjamin Edwards Inc.

Benjamin Edwards Inc. increased its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 22.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,585 shares of the company’s stock after acquiring an additional 292 shares during the period. Benjamin Edwards Inc.’s holdings in L3Harris Technologies were worth $356,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LHX. 9258 Wealth Management LLC boosted its position in L3Harris Technologies by 20.0% during the fourth quarter. 9258 Wealth Management LLC now owns 4,371 shares of the company’s stock worth $921,000 after purchasing an additional 727 shares in the last quarter. Rollins Financial purchased a new position in L3Harris Technologies during the fourth quarter worth approximately $217,000. Gryphon Financial Partners LLC boosted its position in 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 in the last quarter. Assetmark Inc. boosted its position in L3Harris Technologies by 11.4% during 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 in the last quarter. Finally, Franklin Resources Inc. boosted its position in L3Harris Technologies by 14.8% during the fourth quarter. Franklin Resources Inc. now owns 251,757 shares of the company’s stock worth $53,025,000 after purchasing an additional 32,362 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies 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 completion of the sale, 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 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 L3Harris Technologies stock in a transaction 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 of the company’s stock, valued at $10,951,680. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $236.68, for a total value of $707,199.84. Following the completion of the sale, the insider now directly owns 16,316 shares of the company’s stock, valued at $3,861,670.88. The disclosure for this sale can be found here. Insiders sold a total of 29,402 shares of company stock valued at $6,861,855 over the last quarter. 0.82% of the stock is owned by insiders.

Wall Street Analyst Weigh In

LHX has been the topic of a number of recent analyst reports. Wells Fargo & Company lowered their price target on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Barclays raised their target price on L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Susquehanna raised 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. Morgan Stanley downgraded L3Harris Technologies from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $275.00 to $257.00 in a research report on Friday, August 9th. Finally, Royal Bank of Canada downgraded L3Harris Technologies from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $250.00 to $240.00 in a research report on Wednesday, August 14th. Five 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 company has a consensus rating of “Moderate Buy” and an average target price of $247.08.

L3Harris Technologies Price Performance

LHX stock opened at $233.21 on Friday. The business has a fifty day moving average of $231.36 and a two-hundred day moving average of $221.82. The company has a quick ratio of 0.74, a current ratio of 0.90 and a debt-to-equity ratio of 0.56. The stock has a market cap of $44.24 billion, a price-to-earnings ratio of 37.86, a price-to-earnings-growth ratio of 1.95 and a beta of 0.73. L3Harris Technologies, Inc. has a 52-week low of $160.25 and a 52-week high of $245.60.

L3Harris Technologies (NYSE:LHX) last posted 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. The company had revenue of $5.30 billion during the quarter, compared to analysts’ expectations of $5.30 billion. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The firm’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.97 earnings per share. As a group, research analysts anticipate 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. Shareholders of record on Friday, September 6th were paid a dividend of $1.16 per share. The ex-dividend date of this dividend 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%.

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.