Brick & Kyle Associates Sells 135 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Brick & Kyle Associates cut its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 0.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,678 shares of the company’s stock after selling 135 shares during the quarter. L3Harris Technologies accounts for 2.1% of Brick & Kyle Associates’ holdings, making the stock its 18th largest position. Brick & Kyle Associates’ holdings in L3Harris Technologies were worth $5,093,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Stifel Financial Corp boosted its holdings in shares of L3Harris Technologies by 3.9% in the 4th quarter. Stifel Financial Corp now owns 175,895 shares of the company’s stock valued at $37,057,000 after purchasing an additional 6,675 shares in the last quarter. Scout Investments Inc. lifted its holdings in shares of L3Harris Technologies by 59.4% in the fourth quarter. Scout Investments Inc. now owns 36,025 shares of the company’s stock worth $7,588,000 after acquiring an additional 13,423 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of L3Harris Technologies by 34.7% in 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 in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of L3Harris Technologies by 17.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 43,838 shares of the company’s stock valued at $9,845,000 after purchasing an additional 6,634 shares during the last quarter. Finally, Edgestream Partners L.P. increased its position in L3Harris Technologies by 151.6% during the 1st quarter. Edgestream Partners L.P. now owns 3,859 shares of the company’s stock worth $822,000 after purchasing an additional 2,325 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, SVP Scott T. Mikuen sold 10,527 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $230.00, for a total transaction of $2,421,210.00. Following the completion of the transaction, the senior vice president now owns 47,616 shares of the company’s stock, valued at $10,951,680. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Scott T. Mikuen sold 10,527 shares of the business’s stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 47,616 shares in the company, valued at approximately $10,951,680. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ross Niebergall sold 2,988 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $236.68, for a total value of $707,199.84. Following the completion of the transaction, the insider now owns 16,316 shares of the company’s stock, valued at approximately $3,861,670.88. The disclosure for this sale can be found here. Insiders sold a total of 29,402 shares of company stock valued at $6,861,855 in the last three months. Company insiders own 0.82% of the company’s stock.

L3Harris Technologies Price Performance

LHX opened at $235.05 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.90 and a quick ratio of 0.74. L3Harris Technologies, Inc. has a 1 year low of $160.25 and a 1 year high of $245.60. The stock’s 50 day simple moving average is $231.09 and its 200 day simple moving average is $222.47. The firm has a market cap of $44.58 billion, a price-to-earnings ratio of 38.16, a PEG ratio of 2.04 and a beta of 0.73.

L3Harris Technologies (NYSE:LHX) last posted 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. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The company had revenue of $5.30 billion during the quarter, compared to analyst estimates of $5.30 billion. During the same period in the prior year, the business posted $2.97 earnings per share. L3Harris Technologies’s revenue for the quarter was up 12.9% on a year-over-year basis. As a group, analysts predict that L3Harris Technologies, Inc. will post 13.06 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were given a dividend of $1.16 per share. The ex-dividend date was Friday, September 6th. This represents a $4.64 dividend on an annualized basis and a yield of 1.97%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 75.32%.

Analysts Set New Price Targets

LHX has been the subject of a number of research reports. Barclays increased their price target on L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Royal Bank of Canada lowered L3Harris Technologies from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $250.00 to $240.00 in a research note on Wednesday, August 14th. Susquehanna upped their price objective on L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research note on Monday, July 29th. Wells Fargo & Company cut their target price on shares of L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft cut shares of L3Harris Technologies from a “buy” rating to a “hold” rating and upped their price target for the company from $245.00 to $257.00 in a research report on Friday, July 26th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $247.08.

About L3Harris Technologies

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.