L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by D.B. Root & Company LLC

D.B. Root & Company LLC decreased its position in L3Harris Technologies, Inc. (NYSE:LHX) by 1.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,738 shares of the company’s stock after selling 46 shares during the quarter. D.B. Root & Company LLC’s holdings in L3Harris Technologies were worth $839,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. RFG Advisory LLC grew its stake in L3Harris Technologies by 3.1% in the 2nd quarter. RFG Advisory LLC now owns 1,416 shares of the company’s stock worth $318,000 after acquiring an additional 43 shares during the period. Oak Harbor Wealth Partners LLC boosted its position in shares of L3Harris Technologies by 1.7% in the first quarter. Oak Harbor Wealth Partners LLC now owns 2,985 shares of the company’s stock worth $636,000 after acquiring an additional 49 shares during the last quarter. JFS Wealth Advisors LLC increased its position in L3Harris Technologies by 12.2% during the fourth quarter. JFS Wealth Advisors LLC now owns 488 shares of the company’s stock worth $103,000 after purchasing an additional 53 shares during the last quarter. Newman Dignan & Sheerar Inc. boosted its holdings in shares of L3Harris Technologies by 0.6% in the 2nd quarter. Newman Dignan & Sheerar Inc. now owns 8,888 shares of the company’s stock valued at $1,996,000 after purchasing an additional 55 shares during the last quarter. Finally, Parkside Financial Bank & Trust grew its stake in shares of L3Harris Technologies by 13.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 504 shares of the company’s stock valued at $106,000 after buying an additional 58 shares during the period. 84.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on LHX. Deutsche Bank Aktiengesellschaft cut L3Harris Technologies from a “buy” rating to a “hold” rating and lifted their target price for the company from $245.00 to $257.00 in a report on Friday, July 26th. Susquehanna raised their price target on shares of L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a report on Monday, July 29th. Barclays increased their price objective on shares of L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Alembic Global Advisors raised shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price target for the company in a research report on Monday, April 22nd. Finally, Wells Fargo & Company reduced their price objective on 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 ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $245.14.

L3Harris Technologies Price Performance

Shares of NYSE LHX traded up $0.50 during mid-day trading on Monday, reaching $228.83. The company had a trading volume of 531,246 shares, compared to its average volume of 996,258. The company has a 50-day moving average price of $227.36 and a two-hundred day moving average price of $217.87. The stock has a market cap of $43.40 billion, a PE ratio of 37.15, a P/E/G ratio of 1.90 and a beta of 0.72. 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 $245.60.

L3Harris Technologies (NYSE:LHX) last issued 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 for the quarter, compared to analysts’ expectations of $5.30 billion. During the same quarter last year, the business posted $2.97 EPS. L3Harris Technologies’s revenue was up 12.9% on a year-over-year basis. On average, equities analysts anticipate that L3Harris Technologies, Inc. will post 13.04 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be issued a $1.16 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.03%. L3Harris Technologies’s dividend payout ratio is 75.32%.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, VP Sean J. Stackley sold 3,354 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $218.00, for a total value of $731,172.00. Following the transaction, the vice president now owns 17,540 shares in the company, valued at approximately $3,823,720. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, VP Sean J. Stackley sold 3,354 shares of the business’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $218.00, for a total transaction of $731,172.00. Following the transaction, the vice president now directly owns 17,540 shares in the company, valued at approximately $3,823,720. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Scott T. Mikuen sold 15,887 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $235.00, for a total value of $3,733,445.00. Following the sale, the senior vice president now owns 47,616 shares of the company’s stock, valued at $11,189,760. The disclosure for this sale can be found here. Insiders sold 109,312 shares of company stock valued at $24,712,822 over the last three months. 0.82% of the stock is owned by corporate insiders.

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.