Advisor Group Holdings Inc. Decreases Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Advisor Group Holdings Inc. reduced its stake in L3Harris Technologies, Inc. (NYSE:LHXGet Rating) by 2.5% during the first quarter, according to its most recent filing with the SEC. The fund owned 53,743 shares of the company’s stock after selling 1,375 shares during the quarter. Advisor Group Holdings Inc.’s holdings in L3Harris Technologies were worth $9,683,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Capital World Investors lifted its stake in shares of L3Harris Technologies by 24.3% during the 4th quarter. Capital World Investors now owns 14,871,240 shares of the company’s stock valued at $3,171,143,000 after buying an additional 2,906,014 shares in the last quarter. Norges Bank purchased a new position in shares of L3Harris Technologies in the fourth quarter valued at $324,398,000. Millennium Management LLC grew its position in shares of L3Harris Technologies by 1,598.2% in the fourth quarter. Millennium Management LLC now owns 1,228,124 shares of the company’s stock valued at $261,885,000 after purchasing an additional 1,155,803 shares in the last quarter. Qube Research & Technologies Ltd raised its stake in shares of L3Harris Technologies by 422.3% during the 4th quarter. Qube Research & Technologies Ltd now owns 307,639 shares of the company’s stock valued at $65,601,000 after purchasing an additional 248,743 shares during the period. Finally, Adage Capital Partners GP L.L.C. purchased a new stake in L3Harris Technologies during the 4th quarter worth about $51,251,000. Institutional investors own 80.15% of the company’s stock.

L3Harris Technologies Price Performance

Shares of L3Harris Technologies stock opened at $241.36 on Thursday. The stock has a market capitalization of $46.55 billion, a price-to-earnings ratio of 24.86, a price-to-earnings-growth ratio of 4.10 and a beta of 0.67. The company has a fifty day moving average of $233.84 and a 200-day moving average of $237.48. L3Harris Technologies, Inc. has a 52-week low of $200.71 and a 52-week high of $279.71. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.28 and a current ratio of 1.27.

L3Harris Technologies (NYSE:LHXGet Rating) last announced its quarterly earnings data on Thursday, July 28th. The company reported $3.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.16 by $0.07. L3Harris Technologies had a return on equity of 13.09% and a net margin of 11.36%. The firm had revenue of $4.14 billion for the quarter, compared to analysts’ expectations of $4.23 billion. During the same period last year, the firm earned $3.26 earnings per share. The company’s revenue for the quarter was down 11.4% compared to the same quarter last year. Equities research analysts expect that L3Harris Technologies, Inc. will post 13.39 EPS for the current year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 16th. Stockholders of record on Friday, September 2nd will be paid a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend is Thursday, September 1st. L3Harris Technologies’s dividend payout ratio (DPR) is 46.14%.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, VP James P. Girard sold 7,500 shares of the company’s stock in a transaction that occurred on Friday, July 8th. 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 owns 10,811 shares of the company’s stock, valued at approximately $2,594,640. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

LHX has been the topic of several analyst reports. StockNews.com cut L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Friday, April 29th. Susquehanna dropped their price target on L3Harris Technologies from $302.00 to $298.00 in a research report on Monday, May 2nd. Jefferies Financial Group lowered their target price on shares of L3Harris Technologies from $320.00 to $300.00 in a research note on Monday, May 2nd. Finally, Susquehanna Bancshares dropped their target price on shares of L3Harris Technologies from $302.00 to $298.00 in a research report on Monday, May 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $265.09.

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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