L3Harris Technologies, Inc. (NYSE:LHX) Shares Purchased by Stokes Capital Advisors LLC

Stokes Capital Advisors LLC raised its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 0.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,345 shares of the company’s stock after purchasing an additional 225 shares during the quarter. L3Harris Technologies comprises approximately 1.8% of Stokes Capital Advisors LLC’s holdings, making the stock its 26th biggest holding. Stokes Capital Advisors LLC’s holdings in L3Harris Technologies were worth $6,366,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Capital World Investors lifted its stake in shares of L3Harris Technologies by 26.0% in the 4th quarter. Capital World Investors now owns 16,056,272 shares of the company’s stock valued at $3,381,784,000 after purchasing an additional 3,308,506 shares in the last quarter. Vanguard Group Inc. increased its position in shares of L3Harris Technologies by 15.4% in the fourth quarter. Vanguard Group Inc. now owns 20,186,512 shares of the company’s stock worth $4,251,683,000 after acquiring an additional 2,692,771 shares in the last quarter. Mizuho Markets Americas LLC raised its stake in shares of L3Harris Technologies by 990.3% in the 4th quarter. Mizuho Markets Americas LLC now owns 2,204,675 shares of the company’s stock valued at $464,349,000 after acquiring an additional 2,002,475 shares during the period. Norges Bank acquired a new position in shares of L3Harris Technologies during the 4th quarter valued at $325,147,000. Finally, Wellington Management Group LLP lifted its holdings in shares of L3Harris Technologies by 34.7% during the 4th 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 in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, VP Sean J. Stackley sold 3,354 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $218.00, for a total value of $731,172.00. Following the completion of the sale, the vice president now directly owns 17,540 shares of the company’s stock, valued at $3,823,720. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other L3Harris Technologies 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 value of $3,733,445.00. Following the completion of the transaction, the senior vice president now owns 47,616 shares in the company, valued at approximately $11,189,760. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Sean J. Stackley sold 3,354 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $218.00, for a total transaction of $731,172.00. Following the completion of the transaction, the vice president now directly owns 17,540 shares in the company, valued at $3,823,720. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 109,312 shares of company stock worth $24,712,822. 0.82% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on LHX shares. JPMorgan Chase & Co. upped their price target on shares of L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Morgan Stanley lowered L3Harris Technologies from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $275.00 to $257.00 in a research report on Friday, August 9th. Royal Bank of Canada lowered L3Harris Technologies from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $250.00 to $240.00 in a research note on Wednesday. Wells Fargo & Company dropped their target price on shares of L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft cut shares of L3Harris Technologies from a “buy” rating to a “hold” rating and raised their target price for the stock from $245.00 to $257.00 in a report on Friday, July 26th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $244.43.

L3Harris Technologies Price Performance

Shares of LHX traded up $2.01 during mid-day trading on Friday, reaching $228.50. The company had a trading volume of 642,098 shares, compared to its average volume of 990,237. The company’s 50 day simple moving average is $227.65 and its 200 day simple moving average is $218.37. The company has a market capitalization of $43.34 billion, a price-to-earnings ratio of 37.09, a P/E/G ratio of 1.90 and a beta of 0.72. L3Harris Technologies, Inc. has a 1-year low of $160.25 and a 1-year high of $245.60. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.74 and a current ratio of 0.90.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, July 25th. The company reported $3.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.18 by $0.06. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The company had revenue of $5.30 billion during the quarter, compared to the consensus estimate of $5.30 billion. During the same period in the prior year, the business earned $2.97 earnings per share. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. Analysts expect that L3Harris Technologies, Inc. will post 13.04 EPS for the current year.

L3Harris Technologies Announces Dividend

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