M Holdings Securities Inc. Invests $533,000 in L3Harris Technologies, Inc. (NYSE:LHX)

M Holdings Securities Inc. bought a new stake in L3Harris Technologies, Inc. (NYSE:LHXGet Rating) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,147 shares of the company’s stock, valued at approximately $533,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Capital World Investors grew its stake in L3Harris Technologies by 24.3% during the fourth quarter. Capital World Investors now owns 14,871,240 shares of the company’s stock worth $3,171,143,000 after buying an additional 2,906,014 shares during the last quarter. Capital Research Global Investors grew its stake in L3Harris Technologies by 98.0% during the first quarter. Capital Research Global Investors now owns 3,630,501 shares of the company’s stock worth $902,071,000 after buying an additional 1,796,538 shares during the last quarter. Wellington Management Group LLP grew its stake in L3Harris Technologies by 44.5% during the first quarter. Wellington Management Group LLP now owns 5,514,051 shares of the company’s stock worth $1,370,076,000 after buying an additional 1,698,964 shares during the last quarter. Norges Bank bought a new stake in L3Harris Technologies during the fourth quarter worth about $324,398,000. Finally, Millennium Management LLC grew its stake in L3Harris Technologies by 1,598.2% during the fourth quarter. Millennium Management LLC now owns 1,228,124 shares of the company’s stock worth $261,885,000 after buying an additional 1,155,803 shares during the last quarter. Institutional investors own 83.00% of the company’s stock.

L3Harris Technologies Trading Up 0.7 %

Shares of NYSE LHX opened at $230.01 on Friday. The company’s 50 day simple moving average is $232.19 and its 200 day simple moving average is $240.13. L3Harris Technologies, Inc. has a fifty-two week low of $200.71 and a fifty-two week high of $279.71. The firm has a market capitalization of $44.01 billion, a P/E ratio of 23.53, a P/E/G ratio of 5.25 and a beta of 0.68. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.01.

L3Harris Technologies (NYSE:LHXGet Rating) last announced its quarterly earnings data on Thursday, July 28th. The company reported $3.23 earnings per share for the quarter, beating the consensus estimate 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 net margin of 11.36% and a return on equity of 13.09%. L3Harris Technologies’s revenue was down 11.4% compared to the same quarter last year. During the same period in the prior year, the business posted $3.26 earnings per share. On average, analysts predict that L3Harris Technologies, Inc. will post 13.42 EPS for the current year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, September 2nd were issued a $1.12 dividend. The ex-dividend date was Thursday, September 1st. This represents a $4.48 annualized dividend and a yield of 1.95%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 46.14%.

Insiders Place Their Bets

In other L3Harris Technologies news, SVP Scott T. Mikuen sold 8,518 shares of the stock in a transaction on Friday, August 19th. The shares were sold at an average price of $237.95, for a total value of $2,026,858.10. Following the sale, the senior vice president now directly owns 44,735 shares in the company, valued at $10,644,693.25. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, VP James P. Girard sold 7,500 shares of the stock in a transaction on Monday, August 15th. The shares were sold at an average price of $240.00, for a total transaction of $1,800,000.00. Following the completion of the sale, the vice president now owns 12,143 shares of the company’s stock, valued at $2,914,320. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Scott T. Mikuen sold 8,518 shares of the stock in a transaction on Friday, August 19th. The stock was sold at an average price of $237.95, for a total transaction of $2,026,858.10. Following the sale, the senior vice president now directly owns 44,735 shares of the company’s stock, valued at approximately $10,644,693.25. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,518 shares of company stock worth $5,626,858. Company insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada started coverage on shares of L3Harris Technologies in a research report on Monday, August 29th. They set an “outperform” rating and a $285.00 target price on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $267.91.

L3Harris Technologies Company Profile

(Get Rating)

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.

Further Reading

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

Receive News & Ratings for L3Harris Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for L3Harris Technologies and related companies with MarketBeat.com's FREE daily email newsletter.