Advisor Group Holdings Inc. Lowers Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Advisor Group Holdings Inc. cut its position in L3Harris Technologies, Inc. (NYSE:LHXGet Rating) by 2.5% in the first quarter, HoldingsChannel.com reports. The firm owned 53,743 shares of the company’s stock after selling 1,375 shares during the quarter. Advisor Group Holdings Inc.’s holdings in L3Harris Technologies were worth $9,683,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Wedbush Securities Inc. increased its stake in L3Harris Technologies by 1.1% in the 1st quarter. Wedbush Securities Inc. now owns 3,876 shares of the company’s stock worth $963,000 after buying an additional 41 shares in the last quarter. Boenning & Scattergood Inc. grew its position in shares of L3Harris Technologies by 0.9% during the first quarter. Boenning & Scattergood Inc. now owns 4,552 shares of the company’s stock worth $1,131,000 after purchasing an additional 42 shares in the last quarter. YHB Investment Advisors Inc. raised its stake in L3Harris Technologies by 0.4% during the 1st quarter. YHB Investment Advisors Inc. now owns 9,916 shares of the company’s stock valued at $2,464,000 after purchasing an additional 42 shares during the period. AdvisorNet Financial Inc lifted its holdings in L3Harris Technologies by 6.8% in the 1st quarter. AdvisorNet Financial Inc now owns 671 shares of the company’s stock worth $167,000 after purchasing an additional 43 shares in the last quarter. Finally, Main Street Financial Solutions LLC boosted its stake in L3Harris Technologies by 5.1% in the 4th quarter. Main Street Financial Solutions LLC now owns 1,010 shares of the company’s stock worth $215,000 after purchasing an additional 49 shares during the period. 80.15% of the stock is currently owned by institutional investors.

Insider Activity

In other L3Harris Technologies news, VP James P. Girard sold 7,500 shares of the stock in a transaction dated Friday, July 8th. The shares were sold at an average price of $240.00, for a total transaction of $1,800,000.00. Following the transaction, the vice president now directly owns 10,811 shares in the company, valued at approximately $2,594,640. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

LHX has been the topic of several recent analyst reports. Susquehanna Bancshares reduced their price objective on shares of L3Harris Technologies from $302.00 to $298.00 in a research report on Monday, May 2nd. Susquehanna decreased their price target on shares of L3Harris Technologies from $302.00 to $298.00 in a research note on Monday, May 2nd. StockNews.com lowered L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Friday, April 29th. Finally, Jefferies Financial Group reduced their price objective on L3Harris Technologies from $320.00 to $300.00 in a research note on Monday, May 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $265.09.

L3Harris Technologies Trading Down 1.1 %

Shares of NYSE LHX opened at $241.36 on Thursday. L3Harris Technologies, Inc. has a fifty-two week low of $200.71 and a fifty-two week high of $279.71. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.28 and a current ratio of 1.27. The company has a market cap of $46.55 billion, a price-to-earnings ratio of 24.86, a PEG ratio of 4.10 and a beta of 0.67. The business’s 50 day moving average price is $233.84 and its 200-day moving average price is $237.48.

L3Harris Technologies (NYSE:LHXGet Rating) last released its earnings results on Thursday, July 28th. The company reported $3.23 earnings per share for the quarter, topping analysts’ consensus estimates of $3.16 by $0.07. The business had revenue of $4.14 billion for the quarter, compared to analyst estimates of $4.23 billion. L3Harris Technologies had a return on equity of 13.09% and a net margin of 11.36%. The business’s revenue was down 11.4% compared to the same quarter last year. During the same quarter last year, the firm posted $3.26 earnings per share. On average, sell-side analysts expect that L3Harris Technologies, Inc. will post 13.39 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 16th. Stockholders of record on Friday, September 2nd will be given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend is Thursday, September 1st. L3Harris Technologies’s payout ratio is 46.14%.

About L3Harris Technologies

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L3Harris Technologies, Inc, an aerospace and defense technology company, provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides multi-mission intelligence, surveillance, and reconnaissance (ISR) systems; and communication systems, as well as fleet management support, sensor development, modification, and periodic depot maintenance services for ISR and airborne missions.

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Institutional Ownership by Quarter for L3Harris Technologies (NYSE:LHX)

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