Apollon Wealth Management LLC Boosts Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Apollon Wealth Management LLC lifted its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 7.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,252 shares of the company’s stock after acquiring an additional 1,175 shares during the quarter. Apollon Wealth Management LLC’s holdings in L3Harris Technologies were worth $3,875,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in L3Harris Technologies by 12.9% during the 1st quarter. Vanguard Group Inc. now owns 22,792,779 shares of the company’s stock valued at $4,857,141,000 after purchasing an additional 2,606,267 shares during the period. Capital World Investors boosted its position in shares of L3Harris Technologies by 26.0% during the fourth quarter. Capital World Investors now owns 16,056,272 shares of the company’s stock worth $3,381,784,000 after acquiring an additional 3,308,506 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in L3Harris Technologies by 0.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,631,207 shares of the company’s stock valued at $2,052,411,000 after acquiring an additional 45,845 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of L3Harris Technologies by 2.0% during the 4th quarter. Wells Fargo & Company MN now owns 5,147,546 shares of the company’s stock valued at $1,084,176,000 after purchasing an additional 101,708 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of L3Harris Technologies by 34.7% during the 4th quarter. Wellington Management Group LLP now owns 4,416,904 shares of the company’s stock valued at $930,288,000 after purchasing an additional 1,138,549 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on LHX. Deutsche Bank Aktiengesellschaft downgraded L3Harris Technologies from a “buy” rating to a “hold” rating and boosted their target price for the stock from $245.00 to $257.00 in a research report on Friday, July 26th. Wells Fargo & Company cut their target price on shares of L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Morgan Stanley cut shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $275.00 to $257.00 in a research report on Friday, August 9th. Royal Bank of Canada lowered shares of L3Harris Technologies from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $250.00 to $240.00 in a research report on Wednesday, August 14th. Finally, Alembic Global Advisors upgraded shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 target price on the stock in a report on Monday, April 22nd. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $244.43.

L3Harris Technologies Trading Up 0.9 %

LHX opened at $230.47 on Tuesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.74 and a current ratio of 0.90. The stock’s 50 day moving average price is $227.83 and its 200-day moving average price is $218.52. L3Harris Technologies, Inc. has a one year low of $160.25 and a one year high of $245.60. The stock has a market cap of $43.72 billion, a price-to-earnings ratio of 37.41, a P/E/G ratio of 1.90 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, July 25th. The company reported $3.24 earnings per share for the quarter, topping analysts’ consensus estimates of $3.18 by $0.06. The business had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.30 billion. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The business’s revenue was up 12.9% compared to the same quarter last year. During the same quarter last year, the firm posted $2.97 earnings per share. On average, equities analysts forecast that L3Harris Technologies, Inc. will post 13.04 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend is Friday, September 6th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

Insider Activity

In related news, VP Sean J. Stackley sold 3,354 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $218.00, for a total value of $731,172.00. Following the transaction, the vice president now owns 17,540 shares of the company’s stock, valued at $3,823,720. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, SVP Scott T. Mikuen sold 10,527 shares of the business’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $230.00, for a total value of $2,421,210.00. Following the completion of the sale, the senior vice president now owns 47,616 shares in the company, valued at approximately $10,951,680. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Sean J. Stackley sold 3,354 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $218.00, for a total transaction of $731,172.00. Following the completion of the sale, the vice president now directly owns 17,540 shares of the company’s stock, valued at approximately $3,823,720. The disclosure for this sale can be found here. Over the last quarter, insiders sold 109,312 shares of company stock valued at $24,712,822. Corporate insiders own 0.82% of the company’s stock.

L3Harris Technologies Company Profile

L3Harris Technologies, Inc provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides intelligence, surveillance, and reconnaissance (ISR) systems, passive sensing and targeting, electronic attack, autonomy, power and communications, and networks and sensors, as well as advanced combat systems for air, land, and sea sectors.