Thrivent Financial for Lutherans Buys 782 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Thrivent Financial for Lutherans boosted its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 0.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 401,795 shares of the company’s stock after buying an additional 782 shares during the quarter. Thrivent Financial for Lutherans owned 0.21% of L3Harris Technologies worth $90,236,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of LHX. Capital World Investors boosted its stake in shares of L3Harris Technologies by 26.0% during the 4th quarter. Capital World Investors now owns 16,056,272 shares of the company’s stock worth $3,381,784,000 after purchasing an additional 3,308,506 shares during the period. Vanguard Group Inc. lifted its stake in L3Harris Technologies by 15.4% in the fourth quarter. Vanguard Group Inc. now owns 20,186,512 shares of the company’s stock worth $4,251,683,000 after purchasing an additional 2,692,771 shares during 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 valued at $930,288,000 after buying 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 raised its holdings in shares of L3Harris Technologies by 54.5% in the first quarter. Bank of New York Mellon Corp now owns 2,650,866 shares of the company’s stock worth $564,899,000 after buying an additional 934,935 shares during the period. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Up 1.2 %

LHX stock opened at $233.21 on Friday. The stock 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, Inc. has a 52 week low of $160.25 and a 52 week high of $245.60. 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 firm has a 50 day moving average of $231.36 and a 200 day moving average of $221.82.

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

L3Harris Technologies Dividend Announcement

The company also recently declared 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 was Friday, September 6th. This represents a $4.64 annualized dividend and a yield of 1.99%. L3Harris Technologies’s payout ratio is presently 75.32%.

Insider Activity

In related news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $236.68, for a total transaction of $707,199.84. Following the completion of the sale, the insider now owns 16,316 shares of the company’s stock, valued at $3,861,670.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the company’s 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 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 filing with the SEC, which is available through the SEC website. Also, SVP Scott T. Mikuen sold 15,887 shares of L3Harris Technologies stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $235.00, for a total value of $3,733,445.00. Following the transaction, the senior vice president now owns 47,616 shares of the company’s stock, valued at approximately $11,189,760. 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. Company insiders own 0.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Morgan Stanley cut 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 report on Friday, August 9th. Wells Fargo & Company lowered their target price 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. Deutsche Bank Aktiengesellschaft downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating and raised their price target for the stock from $245.00 to $257.00 in a research note on Friday, July 26th. 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 company from $250.00 to $240.00 in a report on Wednesday, August 14th. Finally, Barclays upped their target price on shares of L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target 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.