L3Harris Technologies, Inc. (NYSE:LHX) Shares Acquired by Commonwealth Retirement Investments LLC

Commonwealth Retirement Investments LLC increased its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 4.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,986 shares of the company’s stock after buying an additional 321 shares during the quarter. Commonwealth Retirement Investments LLC’s holdings in L3Harris Technologies were worth $1,569,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. RFG Advisory LLC raised its position in L3Harris Technologies by 3.1% in the second quarter. RFG Advisory LLC now owns 1,416 shares of the company’s stock valued at $318,000 after purchasing an additional 43 shares during the period. Optas LLC boosted its holdings in L3Harris Technologies by 3.3% in the 2nd quarter. Optas LLC now owns 1,381 shares of the company’s stock worth $310,000 after acquiring an additional 44 shares during the period. Founders Financial Securities LLC grew its position in L3Harris Technologies by 2.8% in the second quarter. Founders Financial Securities LLC now owns 1,774 shares of the company’s stock valued at $398,000 after acquiring an additional 48 shares in the last quarter. Whitener Capital Management Inc. raised its stake in shares of L3Harris Technologies by 3.0% during the second quarter. Whitener Capital Management Inc. now owns 1,715 shares of the company’s stock valued at $385,000 after purchasing an additional 50 shares during the period. Finally, JFS Wealth Advisors LLC boosted its stake in shares of L3Harris Technologies by 12.2% in the fourth quarter. JFS Wealth Advisors LLC now owns 488 shares of the company’s stock valued at $103,000 after purchasing an additional 53 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Stock Down 1.8 %

NYSE:LHX opened at $227.23 on Friday. The firm has a market capitalization of $43.10 billion, a PE ratio of 36.89, a price-to-earnings-growth ratio of 1.96 and a beta of 0.73. L3Harris Technologies, Inc. has a 52 week low of $160.25 and a 52 week high of $245.60. The company has a current ratio of 0.90, a quick ratio of 0.74 and a debt-to-equity ratio of 0.56. The stock has a 50 day moving average of $230.60 and a 200-day moving average of $220.59.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, July 25th. The company reported $3.24 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $5.30 billion. During the same period last year, the company earned $2.97 earnings per share. The firm’s revenue for the quarter was up 12.9% on a year-over-year basis. Analysts predict that L3Harris Technologies, Inc. will post 13.06 EPS for the current year.

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be given a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend is Friday, September 6th. L3Harris Technologies’s dividend payout ratio (DPR) is 75.32%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Susquehanna raised their target price on L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research note on Monday, July 29th. Royal Bank of Canada lowered L3Harris Technologies from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $250.00 to $240.00 in a research report on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating and raised their price target for the stock from $245.00 to $257.00 in a research report on Friday, July 26th. Morgan Stanley cut shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $275.00 to $257.00 in a report on Friday, August 9th. Finally, Barclays increased their price objective on shares of L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $247.08.

Insiders Place Their Bets

In other news, insider Ross Niebergall sold 2,988 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $236.68, for a total transaction of $707,199.84. Following the completion of the transaction, the insider now directly owns 16,316 shares in the company, valued at $3,861,670.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, VP Sean J. Stackley sold 3,354 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $216.73, for a total transaction of $726,912.42. Following the transaction, the vice president now owns 14,186 shares in the company, valued at $3,074,531.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $236.68, for a total value of $707,199.84. Following the completion of the sale, the insider now owns 16,316 shares of the company’s stock, valued at $3,861,670.88. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,110 shares of company stock worth $8,319,939. 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.