Lake Street Financial LLC Decreases Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Lake Street Financial LLC cut its stake in shares of L3Harris Technologies, Inc. (NYSE:LHXGet Rating) by 7.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,105 shares of the company’s stock after selling 90 shares during the period. Lake Street Financial LLC’s holdings in L3Harris Technologies were worth $267,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of LHX. Vanguard Group Inc. lifted its position in L3Harris Technologies by 1.1% in the first quarter. Vanguard Group Inc. now owns 16,969,557 shares of the company’s stock worth $4,216,426,000 after buying an additional 186,824 shares during the last quarter. Capital World Investors lifted its holdings in shares of L3Harris Technologies by 1.0% in the 1st quarter. Capital World Investors now owns 15,022,227 shares of the company’s stock worth $3,732,645,000 after acquiring an additional 150,987 shares during the last quarter. BlackRock Inc. boosted its stake in shares of L3Harris Technologies by 1.4% during the 1st quarter. BlackRock Inc. now owns 12,454,934 shares of the company’s stock worth $3,094,678,000 after purchasing an additional 174,922 shares during the period. State Street Corp raised its holdings in shares of L3Harris Technologies by 8.1% in the first quarter. State Street Corp now owns 8,886,247 shares of the company’s stock worth $2,207,966,000 after buying an additional 668,800 shares during the period. Finally, Bank of America Corp DE grew its position in 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 valued at $1,999,292,000 after acquiring an additional 2,293,072 shares during the last quarter. 83.00% of the stock is owned by institutional investors.

Insider Buying and Selling

In other L3Harris Technologies news, 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 transaction, the vice president now owns 12,143 shares in the company, valued at $2,914,320. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other L3Harris Technologies news, SVP Scott T. Mikuen sold 8,518 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the senior vice president now directly owns 44,735 shares in the company, valued at $10,644,693.25. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP James P. Girard sold 7,500 shares of L3Harris Technologies 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 $2,914,320. The disclosure for this sale can be found here. Insiders sold 23,518 shares of company stock worth $5,626,858 in the last three months. 1.00% of the stock is owned by insiders.

L3Harris Technologies Stock Up 0.1 %

Shares of L3Harris Technologies stock opened at $228.72 on Thursday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.01. The stock has a market cap of $43.77 billion, a price-to-earnings ratio of 23.56, a PEG ratio of 5.15 and a beta of 0.68. The firm’s 50-day moving average is $231.81 and its two-hundred day moving average is $239.34. L3Harris Technologies, Inc. has a 1 year low of $200.71 and a 1 year high of $279.71.

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

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, September 2nd were given a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend was Thursday, September 1st. L3Harris Technologies’s payout ratio is 46.14%.

Wall Street Analyst Weigh In

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

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

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