L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Malaga Cove Capital LLC

Malaga Cove Capital LLC lowered its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 0.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,424 shares of the company’s stock after selling 44 shares during the period. Malaga Cove Capital LLC’s holdings in L3Harris Technologies were worth $1,892,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Transcendent Capital Group LLC purchased a new stake in L3Harris Technologies in the 4th quarter valued at approximately $28,000. EntryPoint Capital LLC boosted its stake in shares of L3Harris Technologies by 70.4% during the first quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock valued at $36,000 after acquiring an additional 69 shares during the last quarter. Versant Capital Management Inc raised its stake in L3Harris Technologies by 77.7% in the 2nd 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 last quarter. Family Firm Inc. acquired a new stake in shares of L3Harris Technologies during the 2nd quarter worth about $45,000. Finally, Sachetta LLC purchased a new stake in shares of L3Harris Technologies during the fourth quarter worth about $49,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Susquehanna upped 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. Wells Fargo & Company reduced their price target 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. Barclays raised their price objective on L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft lowered L3Harris Technologies from a “buy” rating to a “hold” rating and upped their target price for the company from $245.00 to $257.00 in a research note on Friday, July 26th. Finally, Royal Bank of Canada cut L3Harris Technologies from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $250.00 to $240.00 in a report on Wednesday, August 14th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $247.08.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of the 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 approximately $3,861,670.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, VP Sean J. Stackley sold 3,354 shares of L3Harris Technologies stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $216.73, for a total value of $726,912.42. Following the completion of the transaction, the vice president now owns 14,186 shares in the company, valued at approximately $3,074,531.78. The sale was disclosed in a legal filing with the SEC, 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 shares were sold at an average price of $236.68, for a total value of $707,199.84. Following the sale, the insider now directly owns 16,316 shares in the company, valued at $3,861,670.88. The disclosure for this sale can be found here. Insiders sold a total of 36,110 shares of company stock worth $8,319,939 in the last 90 days. 0.82% of the stock is owned by corporate insiders.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $229.27 on Tuesday. L3Harris Technologies, Inc. has a twelve month low of $160.25 and a twelve month high of $245.60. The firm has a market capitalization of $43.49 billion, a price-to-earnings ratio of 37.22, a PEG ratio of 1.88 and a beta of 0.73. 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 firm’s fifty day simple moving average is $230.75 and its 200 day simple moving average is $220.81.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data 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. The company had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.30 billion. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The business’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter last year, the firm posted $2.97 earnings per share. As a group, equities research analysts expect that L3Harris Technologies, Inc. will post 13.06 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be paid a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend is Friday, September 6th. L3Harris Technologies’s dividend payout ratio (DPR) 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.