Central Valley Advisors LLC Has $1.63 Million Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Central Valley Advisors LLC cut its position in L3Harris Technologies, Inc. (NYSE:LHX) by 8.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,844 shares of the company’s stock after selling 647 shares during the period. Central Valley Advisors LLC’s holdings in L3Harris Technologies were worth $1,628,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. KBC Group NV lifted its holdings in shares of L3Harris Technologies by 15.2% in the 4th quarter. KBC Group NV now owns 17,050 shares of the company’s stock worth $3,591,000 after purchasing an additional 2,248 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of L3Harris Technologies by 141.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 23,792 shares of the company’s stock valued at $5,011,000 after buying an additional 13,945 shares during the last quarter. Cetera Advisor Networks LLC increased its position in shares of L3Harris Technologies by 18.2% during the fourth quarter. Cetera Advisor Networks LLC now owns 27,258 shares of the company’s stock worth $5,741,000 after acquiring an additional 4,191 shares in the last quarter. Cibc World Markets Corp raised its holdings in shares of L3Harris Technologies by 133.5% in the 4th quarter. Cibc World Markets Corp now owns 24,379 shares of the company’s stock worth $5,135,000 after acquiring an additional 13,940 shares during the last quarter. Finally, Pinebridge Investments L.P. lifted its position in L3Harris Technologies by 74.7% in the 4th quarter. Pinebridge Investments L.P. now owns 13,215 shares of the company’s stock valued at $2,784,000 after acquiring an additional 5,651 shares in the last quarter. 84.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Royal Bank of Canada downgraded L3Harris Technologies from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $250.00 to $240.00 in a research note on Wednesday, August 14th. Barclays lifted their price objective on shares of L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Morgan Stanley downgraded shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $275.00 to $257.00 in a report on Friday, August 9th. Susquehanna boosted their price target on shares of L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a report on Monday, July 29th. Finally, Wells Fargo & Company decreased their price objective on shares of L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $246.54.

L3Harris Technologies Stock Performance

Shares of NYSE LHX traded up $0.55 during mid-day trading on Friday, hitting $243.66. The company had a trading volume of 372,741 shares, compared to its average volume of 933,624. 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, Inc. has a 1 year low of $160.25 and a 1 year high of $247.33. The company has a market capitalization of $46.22 billion, a price-to-earnings ratio of 39.56, a P/E/G ratio of 2.04 and a beta of 0.73. The stock’s 50-day moving average price is $231.62 and its 200-day moving average price is $223.50.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, July 25th. The company reported $3.24 earnings per share for the quarter, beating 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 business had revenue of $5.30 billion during the quarter, compared to analyst estimates of $5.30 billion. During the same quarter in the previous year, the firm earned $2.97 EPS. The company’s quarterly revenue was up 12.9% compared to the same quarter last year. On average, sell-side analysts forecast that L3Harris Technologies, Inc. will post 13.06 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were paid a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 1.90%. The ex-dividend date was Friday, September 6th. L3Harris Technologies’s dividend payout ratio is 75.32%.

Insider Buying and Selling

In other L3Harris Technologies news, SVP Scott T. Mikuen sold 10,527 shares of the business’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 47,616 shares of the company’s stock, valued at $10,951,680. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction dated 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 directly owns 16,316 shares of the company’s stock, valued at approximately $3,861,670.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Scott T. Mikuen sold 10,527 shares of the business’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 value of $2,421,210.00. Following the completion of the sale, the senior vice president now owns 47,616 shares of the company’s stock, valued at $10,951,680. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,390 shares of company stock worth $7,592,959. Insiders own 0.82% of the company’s stock.

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.