L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Daymark Wealth Partners LLC

Daymark Wealth Partners LLC lowered its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 2.3% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 26,387 shares of the company’s stock after selling 631 shares during the quarter. Daymark Wealth Partners LLC’s holdings in L3Harris Technologies were worth $6,277,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Meeder Asset Management Inc. lifted its stake in shares of L3Harris Technologies by 260.6% during 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 period. Transcendent Capital Group LLC purchased a new position in shares of L3Harris Technologies during the 4th quarter worth $28,000. EntryPoint Capital LLC boosted its holdings in shares of L3Harris Technologies by 70.4% during the first quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock worth $36,000 after purchasing an additional 69 shares during the last quarter. Versant Capital Management Inc grew its position in shares of L3Harris Technologies by 77.7% in the second quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock valued at $41,000 after purchasing an additional 80 shares during the period. Finally, Family Firm Inc. purchased a new stake in L3Harris Technologies in the 2nd quarter valued at about $45,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

Shares of LHX stock traded up $0.60 during midday trading on Wednesday, reaching $241.88. 40,124 shares of the company were exchanged, compared to its average volume of 923,949. L3Harris Technologies, Inc. has a 12 month low of $169.55 and a 12 month high of $247.33. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.74 and a current ratio of 0.90. The company has a market cap of $45.88 billion, a P/E ratio of 39.15, a PEG ratio of 2.04 and a beta of 0.73. The company’s 50 day moving average price is $232.23 and its two-hundred day moving average price is $224.07.

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

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were paid a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend was Friday, September 6th. L3Harris Technologies’s dividend payout ratio is presently 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 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 owns 47,616 shares in the company, valued at approximately $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 accessible through this hyperlink. In related news, SVP Scott T. Mikuen sold 15,887 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $235.00, for a total transaction of $3,733,445.00. Following the transaction, the senior vice president now directly owns 47,616 shares of the company’s stock, valued at approximately $11,189,760. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Scott T. Mikuen sold 10,527 shares of the firm’s stock in a transaction dated 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,390 shares of company stock worth $7,592,959 in the last three months. 0.82% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

LHX has been the topic of several research analyst reports. Morgan Stanley cut shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $275.00 to $257.00 in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft lowered their price target on L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Royal Bank of Canada downgraded L3Harris Technologies from an “outperform” rating to a “sector perform” rating and dropped their target price for the company from $250.00 to $240.00 in a report on Wednesday, August 14th. Susquehanna lifted their price objective on shares of L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research note on Monday, July 29th. Finally, Barclays boosted 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. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, L3Harris Technologies currently has an average rating of “Moderate Buy” and an average target price of $246.54.

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.