Intech Investment Management LLC Grows Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Intech Investment Management LLC grew its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 261.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,834 shares of the company’s stock after purchasing an additional 10,007 shares during the quarter. Intech Investment Management LLC’s holdings in L3Harris Technologies were worth $3,107,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. 9258 Wealth Management LLC raised its stake in shares of L3Harris Technologies by 20.0% during the fourth quarter. 9258 Wealth Management LLC now owns 4,371 shares of the company’s stock valued at $921,000 after acquiring an additional 727 shares in the last quarter. Rollins Financial bought a new stake in L3Harris Technologies during the 4th quarter valued at $217,000. Gryphon Financial Partners LLC lifted its holdings in shares of L3Harris Technologies by 26.1% in the 4th quarter. Gryphon Financial Partners LLC now owns 1,808 shares of the company’s stock worth $384,000 after buying an additional 374 shares during the period. Cambridge Investment Research Advisors Inc. grew its position in shares of L3Harris Technologies by 11.2% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 35,682 shares of the company’s stock worth $7,515,000 after buying an additional 3,596 shares in the last quarter. Finally, Commerce Bank increased its stake in shares of L3Harris Technologies by 0.8% during the fourth quarter. Commerce Bank now owns 19,127 shares of the company’s stock valued at $4,029,000 after buying an additional 148 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, 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 transaction, 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 can be accessed through this link. In other news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $3,861,670.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Scott T. Mikuen sold 10,527 shares of the stock in a transaction 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 transaction, the senior vice president now directly owns 47,616 shares in the company, valued at $10,951,680. The disclosure for this sale can be found here. Insiders have sold 29,402 shares of company stock valued at $6,861,855 in the last 90 days. 0.82% of the stock is currently owned by company insiders.

L3Harris Technologies Trading Up 1.2 %

L3Harris Technologies stock opened at $233.21 on Monday. The stock has a 50-day moving average price of $231.36 and a 200 day moving average price of $221.87. The company has a market capitalization 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. The company has a quick ratio of 0.74, a current ratio of 0.90 and a debt-to-equity ratio of 0.56.

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 firm had revenue of $5.30 billion during the quarter, compared to analysts’ expectations of $5.30 billion. During the same quarter last year, the company posted $2.97 earnings per share. The firm’s revenue was up 12.9% compared to the same quarter last year. Sell-side analysts anticipate that L3Harris Technologies, Inc. will post 13.06 EPS for the current year.

L3Harris Technologies Dividend Announcement

The business also recently declared 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 yield of 1.99%. The ex-dividend date of this dividend was Friday, September 6th. L3Harris Technologies’s payout ratio is presently 75.32%.

Analysts Set New Price Targets

Several research analysts have issued reports on LHX shares. Royal Bank of Canada cut shares of L3Harris Technologies from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $250.00 to $240.00 in a report on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $245.00 to $257.00 in a research note on Friday, July 26th. Barclays lifted their price target on L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Morgan Stanley lowered L3Harris Technologies from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $275.00 to $257.00 in a research note on Friday, August 9th. Finally, Susquehanna lifted their price objective on shares of L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research report on Monday, July 29th. 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, the stock currently has an average rating of “Moderate Buy” and a consensus 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.