Pathway Financial Advisers LLC Boosts Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Pathway Financial Advisers LLC grew its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 1.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,476 shares of the company’s stock after buying an additional 56 shares during the period. Pathway Financial Advisers LLC’s holdings in L3Harris Technologies were worth $775,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. 9258 Wealth Management LLC raised its stake in L3Harris Technologies by 20.0% in the 4th quarter. 9258 Wealth Management LLC now owns 4,371 shares of the company’s stock valued at $921,000 after purchasing an additional 727 shares during the last quarter. Rollins Financial purchased a new stake in L3Harris Technologies in the 4th quarter worth approximately $217,000. TD Asset Management Inc raised its holdings in L3Harris Technologies by 6.2% in the 4th quarter. TD Asset Management Inc now owns 85,173 shares of the company’s stock valued at $17,939,000 after acquiring an additional 4,992 shares during the last quarter. Brown Brothers Harriman & Co. lifted its stake in shares of L3Harris Technologies by 57.3% during the 4th quarter. Brown Brothers Harriman & Co. now owns 837 shares of the company’s stock worth $176,000 after purchasing an additional 305 shares during the period. Finally, Eagle Asset Management Inc. acquired a new stake in shares of L3Harris Technologies during the fourth quarter worth $224,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft lowered L3Harris Technologies from a “buy” rating to a “hold” rating and upped their target price for the company from $245.00 to $257.00 in a research note on Friday, July 26th. Morgan Stanley downgraded shares of 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 research note on Friday, August 9th. Royal Bank of Canada lowered shares of L3Harris Technologies from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from $250.00 to $240.00 in a report on Wednesday, August 14th. Barclays boosted their target price on shares of L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Finally, Wells Fargo & Company cut their price target on shares of L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $247.08.

Insider Buying and Selling at L3Harris Technologies

In other news, SVP Scott T. Mikuen sold 10,527 shares of L3Harris Technologies stock in a transaction dated 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 sale, the senior vice president now directly owns 47,616 shares of the company’s stock, valued at $10,951,680. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, SVP Scott T. Mikuen sold 10,527 shares of L3Harris Technologies stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $230.00, for a total value of $2,421,210.00. Following the completion of the sale, the senior vice president now owns 47,616 shares in the company, valued at $10,951,680. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Scott T. Mikuen sold 15,887 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $235.00, for a total transaction of $3,733,445.00. Following the completion of the sale, the senior vice president now directly owns 47,616 shares in the company, valued at $11,189,760. The disclosure for this sale can be found here. Insiders sold a total of 29,402 shares of company stock valued at $6,861,855 in the last ninety days. Insiders own 0.82% of the company’s stock.

L3Harris Technologies Trading Up 1.2 %

Shares of LHX opened at $237.79 on Tuesday. L3Harris Technologies, Inc. has a 12 month low of $160.25 and a 12 month high of $245.60. The stock’s 50-day moving average is $231.09 and its two-hundred day moving average is $222.75. 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 stock has a market cap of $45.10 billion, a PE ratio of 38.60, a P/E/G ratio of 2.04 and a beta of 0.73.

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, topping analysts’ consensus estimates of $3.18 by $0.06. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The firm had revenue of $5.30 billion during the quarter, compared to analysts’ expectations of $5.30 billion. During the same quarter in the prior year, the business earned $2.97 EPS. L3Harris Technologies’s quarterly revenue was up 12.9% compared to the same quarter last year. Equities analysts forecast that L3Harris Technologies, Inc. will post 13.06 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were given a $1.16 dividend. The ex-dividend date was Friday, September 6th. This represents a $4.64 dividend on an annualized basis and a yield of 1.95%. L3Harris Technologies’s payout ratio is currently 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.