GDS Wealth Management Boosts Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

GDS Wealth Management raised its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 5.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 73,426 shares of the company’s stock after purchasing an additional 4,009 shares during the quarter. L3Harris Technologies accounts for approximately 1.8% of GDS Wealth Management’s investment portfolio, making the stock its 18th biggest holding. GDS Wealth Management’s holdings in L3Harris Technologies were worth $16,490,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in LHX. 9258 Wealth Management LLC boosted its holdings in L3Harris Technologies by 20.0% in the fourth quarter. 9258 Wealth Management LLC now owns 4,371 shares of the company’s stock valued at $921,000 after purchasing an additional 727 shares during the last quarter. Rollins Financial purchased a new stake in shares of L3Harris Technologies during the 4th quarter worth about $217,000. Gryphon Financial Partners LLC boosted its stake in shares of L3Harris Technologies by 26.1% during the 4th quarter. Gryphon Financial Partners LLC now owns 1,808 shares of the company’s stock worth $384,000 after acquiring an additional 374 shares in the last quarter. Principal Securities Inc. purchased a new stake in shares of L3Harris Technologies during the 4th quarter worth about $140,000. Finally, Beacon Pointe Advisors LLC boosted its stake in shares of L3Harris Technologies by 9.0% during the 4th quarter. Beacon Pointe Advisors LLC now owns 5,753 shares of the company’s stock worth $1,212,000 after acquiring an additional 473 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at L3Harris Technologies

In other news, SVP Scott T. Mikuen sold 10,527 shares of L3Harris Technologies stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $230.00, for a total transaction of $2,421,210.00. Following the completion of the sale, the senior vice president now directly owns 47,616 shares of the company’s stock, valued at approximately $10,951,680. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, SVP Scott T. Mikuen sold 15,887 shares of L3Harris Technologies stock in a transaction on Monday, July 15th. The shares were sold at an average price of $235.00, for a total transaction of $3,733,445.00. Following the sale, the senior vice president now directly owns 47,616 shares in the company, valued at approximately $11,189,760. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Scott T. Mikuen sold 10,527 shares of L3Harris Technologies stock in a transaction on 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 $10,951,680. The disclosure for this sale can be found here. Insiders sold 29,402 shares of company stock valued at $6,861,855 in the last 90 days. Company insiders own 0.82% of the company’s stock.

L3Harris Technologies Stock Up 0.8 %

Shares of NYSE LHX opened at $231.69 on Tuesday. The company has a 50 day simple moving average of $231.19 and a 200-day simple moving average of $221.39. The company has a market capitalization of $43.95 billion, a P/E ratio of 37.61, a P/E/G ratio of 1.95 and a beta of 0.73. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.90 and a quick ratio of 0.74. L3Harris Technologies, Inc. has a 1 year low of $160.25 and a 1 year high of $245.60.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data 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. The firm had revenue of $5.30 billion during the quarter, compared to analysts’ expectations of $5.30 billion. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The firm’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter last year, the company posted $2.97 EPS. On average, equities research analysts predict that L3Harris Technologies, Inc. will post 13.06 earnings per share 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 given a $1.16 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $4.64 annualized dividend and a yield of 2.00%. L3Harris Technologies’s dividend payout ratio is presently 75.32%.

Analyst Ratings Changes

LHX has been the topic of several recent analyst reports. Susquehanna increased their target price on shares of L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research note on Monday, July 29th. Morgan Stanley downgraded shares of 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 downgraded shares of L3Harris Technologies from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from $250.00 to $240.00 in a research report on Wednesday, August 14th. Wells Fargo & Company reduced their price target on shares of L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating and increased their price objective for the company from $245.00 to $257.00 in a report on Friday, July 26th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $247.08.

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.