L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC lessened its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 3.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 80,305 shares of the company’s stock after selling 2,800 shares during the period. Gabelli Funds LLC’s holdings in L3Harris Technologies were worth $18,035,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Meeder Asset Management Inc. raised its stake in 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 during the last quarter. Transcendent Capital Group LLC acquired a new position in shares of L3Harris Technologies during the fourth quarter valued at about $28,000. EntryPoint Capital LLC raised its position in shares of L3Harris Technologies by 70.4% in the 1st quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock valued at $36,000 after purchasing an additional 69 shares during the last quarter. Versant Capital Management Inc boosted its stake in L3Harris Technologies by 77.7% in the 2nd quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock worth $41,000 after purchasing an additional 80 shares in the last quarter. Finally, Family Firm Inc. purchased a new stake in L3Harris Technologies during the 2nd quarter worth approximately $45,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft downgraded 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 note on Friday, July 26th. Royal Bank of Canada cut L3Harris Technologies from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from $250.00 to $240.00 in a research report on Wednesday, August 14th. Barclays boosted their price target on L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Morgan Stanley cut L3Harris Technologies from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $275.00 to $257.00 in a research note on Friday, August 9th. Finally, Susquehanna upped 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. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, L3Harris Technologies currently has an average rating of “Moderate Buy” and an average target price of $247.08.

Insider Buying and Selling

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction that occurred 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 directly owns 16,316 shares of the company’s stock, valued at $3,861,670.88. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 business’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $230.00, for a total transaction 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 approximately $10,951,680. 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. 0.82% of the stock is owned by company insiders.

L3Harris Technologies Trading Up 1.2 %

Shares of NYSE:LHX opened at $233.21 on Monday. The company has a market capitalization of $44.24 billion, a PE ratio of 37.86, a PEG ratio of 1.95 and a beta of 0.73. L3Harris Technologies, Inc. has a 12-month low of $160.25 and a 12-month high of $245.60. The business has a 50 day moving average of $231.36 and a two-hundred day moving average of $221.87. The company has a current ratio of 0.90, a quick ratio of 0.74 and a debt-to-equity ratio of 0.56.

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, beating 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 period in the previous year, the business posted $2.97 EPS. The business’s revenue was up 12.9% compared to the same quarter last year. As a group, analysts forecast that L3Harris Technologies, Inc. will post 13.06 EPS for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were paid a $1.16 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $4.64 annualized dividend and a dividend yield of 1.99%. L3Harris Technologies’s dividend 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.