Westwood Holdings Group Inc. Trims Position in L3Harris Technologies, Inc. (NYSE:LHX)

Westwood Holdings Group Inc. lessened its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 0.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 20,234 shares of the company’s stock after selling 135 shares during the quarter. Westwood Holdings Group Inc.’s holdings in L3Harris Technologies were worth $4,544,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Stifel Financial Corp increased its position in L3Harris Technologies by 3.9% during the fourth quarter. Stifel Financial Corp now owns 175,895 shares of the company’s stock valued at $37,057,000 after acquiring an additional 6,675 shares during the last quarter. Scout Investments Inc. increased its position in L3Harris Technologies by 59.4% during the fourth quarter. Scout Investments Inc. now owns 36,025 shares of the company’s stock valued at $7,588,000 after acquiring an additional 13,423 shares during the last quarter. Wellington Management Group LLP increased its position in 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 acquiring an additional 1,138,549 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in L3Harris Technologies by 17.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 43,838 shares of the company’s stock valued at $9,845,000 after purchasing an additional 6,634 shares during the period. Finally, Edgestream Partners L.P. grew its holdings in L3Harris Technologies by 151.6% during the first quarter. Edgestream Partners L.P. now owns 3,859 shares of the company’s stock valued at $822,000 after purchasing an additional 2,325 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on LHX shares. Deutsche Bank Aktiengesellschaft lowered L3Harris Technologies from a “buy” rating to a “hold” rating and boosted their price target for the company from $245.00 to $257.00 in a report on Friday, July 26th. Royal Bank of Canada lowered L3Harris Technologies from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $250.00 to $240.00 in a 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 report on Tuesday, July 30th. Wells Fargo & Company cut their price target on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Finally, Susquehanna boosted their price target on L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a report on Monday, July 29th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $247.08.

Insider Buying and Selling at L3Harris Technologies

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 transaction of $707,199.84. Following the completion of the transaction, the insider now owns 16,316 shares in the company, valued at approximately $3,861,670.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other L3Harris Technologies news, SVP Scott T. Mikuen sold 10,527 shares of the firm’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 47,616 shares in the company, valued at approximately $10,951,680. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ross Niebergall sold 2,988 shares of the firm’s 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 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 29,402 shares of company stock worth $6,861,855 in the last quarter. 0.82% of the stock is owned by corporate insiders.

L3Harris Technologies Stock Performance

NYSE LHX opened at $233.21 on Monday. The firm 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. 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 business has a 50-day moving average price of $231.36 and a 200-day moving average price of $221.87. L3Harris Technologies, Inc. has a twelve month low of $160.25 and a twelve month high of $245.60.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, July 25th. The company reported $3.24 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 13.02% and a net margin of 5.73%. The firm’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.97 EPS. As a group, equities research analysts predict that L3Harris Technologies, Inc. will post 13.06 EPS for the current fiscal 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 issued a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 1.99%. The ex-dividend date was Friday, September 6th. L3Harris Technologies’s dividend payout ratio is presently 75.32%.

L3Harris Technologies 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.