L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by ARK Investment Management LLC

ARK Investment Management LLC decreased its position in shares of L3Harris Technologies, Inc. (NYSE:LHXGet Rating) by 19.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 80,806 shares of the company’s stock after selling 19,992 shares during the period. ARK Investment Management LLC’s holdings in L3Harris Technologies were worth $19,466,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Wedbush Securities Inc. lifted its position in shares of L3Harris Technologies by 1.1% in the first quarter. Wedbush Securities Inc. now owns 3,876 shares of the company’s stock valued at $963,000 after acquiring an additional 41 shares in the last quarter. Boenning & Scattergood Inc. increased its stake in L3Harris Technologies by 0.9% in the first quarter. Boenning & Scattergood Inc. now owns 4,552 shares of the company’s stock valued at $1,131,000 after purchasing an additional 42 shares during the last quarter. YHB Investment Advisors Inc. increased its stake in L3Harris Technologies by 0.4% in the first 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 last quarter. AdvisorNet Financial Inc increased its stake in L3Harris Technologies by 6.8% in the first quarter. AdvisorNet Financial Inc now owns 671 shares of the company’s stock valued at $167,000 after purchasing an additional 43 shares during the last quarter. Finally, Boston Financial Mangement LLC increased its stake in L3Harris Technologies by 3.8% in the first quarter. Boston Financial Mangement LLC now owns 1,165 shares of the company’s stock valued at $289,000 after purchasing an additional 43 shares during the last quarter. Institutional investors and hedge funds own 83.00% of the company’s stock.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock opened at $230.01 on Monday. The stock has a market cap of $44.01 billion, a PE ratio of 23.69, a price-to-earnings-growth ratio of 5.15 and a beta of 0.68. The business has a fifty day simple moving average of $232.02 and a 200-day simple moving average of $239.86. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. L3Harris Technologies, Inc. has a 12 month low of $200.71 and a 12 month high of $279.71.

L3Harris Technologies (NYSE:LHXGet Rating) last issued its earnings results on Thursday, July 28th. The company reported $3.23 EPS for the quarter, topping the consensus estimate of $3.16 by $0.07. The business had revenue of $4.14 billion during the quarter, compared to analysts’ expectations of $4.23 billion. L3Harris Technologies had a return on equity of 13.09% and a net margin of 11.36%. L3Harris Technologies’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 anticipate that L3Harris Technologies, Inc. will post 13.45 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, September 2nd were given a dividend of $1.12 per share. The ex-dividend date was Thursday, September 1st. This represents a $4.48 dividend on an annualized basis and a yield of 1.95%. L3Harris Technologies’s payout ratio is 46.14%.

Analysts Set New Price Targets

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

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, SVP Scott T. Mikuen sold 8,518 shares of the firm’s stock in a transaction dated 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 transaction, 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 filing with the SEC, which is available through this link. In other news, SVP Scott T. Mikuen sold 8,518 shares of L3Harris Technologies stock in a transaction dated Friday, August 19th. The stock was 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 directly owns 44,735 shares in the company, valued at $10,644,693.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP James P. Girard sold 7,500 shares of L3Harris Technologies stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $240.00, for a total value of $1,800,000.00. Following the completion of the transaction, the vice president now owns 12,143 shares in the company, valued at $2,914,320. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,518 shares of company stock valued at $5,626,858. Insiders own 1.00% of the company’s stock.

L3Harris Technologies Company Profile

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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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