35,048 Shares in L3Harris Technologies, Inc. (NYSE:LHX) Purchased by Interval Partners LP

Interval Partners LP purchased a new stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 35,048 shares of the company’s stock, valued at approximately $7,871,000.

A number of other hedge funds have also recently bought and sold shares of the stock. Meeder Asset Management Inc. grew its stake in shares of L3Harris Technologies by 260.6% in the second quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock valued at $27,000 after buying an additional 86 shares in the last quarter. Transcendent Capital Group LLC bought a new position in shares of L3Harris Technologies in the 4th quarter valued at about $28,000. EntryPoint Capital LLC increased its stake in shares of L3Harris Technologies by 70.4% during the 1st quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock worth $36,000 after purchasing an additional 69 shares during the last quarter. Versant Capital Management Inc raised its holdings in shares of L3Harris Technologies by 77.7% in the 2nd quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock valued at $41,000 after purchasing an additional 80 shares during the period. Finally, Family Firm Inc. acquired a new stake in L3Harris Technologies in the 2nd quarter valued at about $45,000. 84.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

LHX has been the topic of several research analyst reports. Susquehanna upped their price objective on L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research note on Monday, July 29th. Wells Fargo & Company dropped their price target on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft cut shares of L3Harris Technologies from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $245.00 to $257.00 in a research report on Friday, July 26th. Royal Bank of Canada lowered shares of L3Harris Technologies from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from $250.00 to $240.00 in a research report on Wednesday, August 14th. Finally, Morgan Stanley downgraded shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $275.00 to $257.00 in a report 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $247.08.

Insider Transactions at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction that occurred 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 transaction, 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 accessible through this hyperlink. In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the firm’s 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 sale, the insider now owns 16,316 shares of the company’s stock, valued at approximately $3,861,670.88. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Scott T. Mikuen sold 15,887 shares of the business’s stock in a transaction on Monday, July 15th. The stock was 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 directly owns 47,616 shares of the company’s stock, valued at approximately $11,189,760. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,402 shares of company stock valued at $6,861,855. Company insiders own 0.82% of the company’s stock.

L3Harris Technologies Trading Up 1.2 %

Shares of NYSE:LHX opened at $233.21 on Monday. The business’s 50 day simple moving average is $231.36 and its 200 day simple moving average is $221.87. 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 P/E ratio of 37.86, a P/E/G ratio of 1.95 and a beta of 0.73.

L3Harris Technologies (NYSE:LHX) last released 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 for the quarter, compared to analyst estimates of $5.30 billion. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. L3Harris Technologies’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the firm posted $2.97 EPS. On average, research analysts anticipate that L3Harris Technologies, Inc. will post 13.06 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were given a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 1.99%. The ex-dividend date was Friday, September 6th. L3Harris Technologies’s payout ratio is presently 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.