Crestwood Advisors Group LLC Sells 288 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Crestwood Advisors Group LLC reduced its stake in shares of L3Harris Technologies, Inc. (NYSE:LHXGet Rating) by 19.8% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,167 shares of the company’s stock after selling 288 shares during the period. Crestwood Advisors Group LLC’s holdings in L3Harris Technologies were worth $282,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Somerset Trust Co increased its holdings in L3Harris Technologies by 0.5% during the 2nd quarter. Somerset Trust Co now owns 17,903 shares of the company’s stock worth $4,327,000 after purchasing an additional 87 shares in the last quarter. Oliver Lagore Vanvalin Investment Group purchased a new position in shares of L3Harris Technologies in the 1st quarter worth approximately $103,000. J.W. Cole Advisors Inc. boosted its stake in shares of L3Harris Technologies by 5.9% in the 1st quarter. J.W. Cole Advisors Inc. now owns 1,461 shares of the company’s stock worth $363,000 after buying an additional 81 shares during the last quarter. Peachtree Investment Partners LLC boosted its stake in shares of L3Harris Technologies by 4.4% in the 1st quarter. Peachtree Investment Partners LLC now owns 2,948 shares of the company’s stock worth $733,000 after buying an additional 123 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of L3Harris Technologies by 39.9% in the 1st quarter. Bank of America Corp DE now owns 8,046,413 shares of the company’s stock worth $1,999,292,000 after buying an additional 2,293,072 shares during the last quarter. 83.00% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

L3Harris Technologies Price Performance

L3Harris Technologies stock opened at $230.01 on Friday. The company has a market cap of $44.01 billion, a price-to-earnings ratio of 23.69, a PEG ratio of 5.12 and a beta of 0.68. The business’s 50 day simple moving average is $232.02 and its 200 day simple moving average is $239.96. L3Harris Technologies, Inc. has a 12 month low of $200.71 and a 12 month high of $279.71. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35.

L3Harris Technologies (NYSE:LHXGet Rating) last posted its earnings results on Thursday, July 28th. The company reported $3.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.16 by $0.07. The firm had revenue of $4.14 billion for the quarter, compared to the consensus estimate of $4.23 billion. L3Harris Technologies had a return on equity of 13.09% and a net margin of 11.36%. The business’s quarterly revenue was down 11.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.26 earnings per share. Sell-side analysts forecast that L3Harris Technologies, Inc. will post 13.45 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, September 2nd were given a dividend of $1.12 per share. The ex-dividend date of this dividend was Thursday, September 1st. This represents a $4.48 annualized dividend and a dividend yield of 1.95%. L3Harris Technologies’s dividend payout ratio is currently 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 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 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 this hyperlink. In other news, SVP Scott T. Mikuen sold 8,518 shares of the company’s 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 transaction, the senior vice president now owns 44,735 shares of the company’s stock, valued at $10,644,693.25. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP James P. Girard sold 7,500 shares of the company’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $240.00, for a total transaction of $1,800,000.00. Following the completion of the transaction, the vice president now directly owns 12,143 shares in the company, valued at approximately $2,914,320. The disclosure for this sale can be found here. Insiders have sold a total of 23,518 shares of company stock worth $5,626,858 over the last 90 days. Corporate insiders own 1.00% of the company’s stock.

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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