Capital Investment Advisors LLC Sells 684 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Capital Investment Advisors LLC cut its stake in shares of L3Harris Technologies, Inc. (NYSE:LHXGet Rating) by 17.9% in the 2nd quarter, HoldingsChannel reports. The firm owned 3,143 shares of the company’s stock after selling 684 shares during the period. Capital Investment Advisors LLC’s holdings in L3Harris Technologies were worth $760,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Somerset Trust Co lifted its position in L3Harris Technologies by 0.5% during the second quarter. Somerset Trust Co now owns 17,903 shares of the company’s stock valued at $4,327,000 after purchasing an additional 87 shares during the last quarter. Oliver Lagore Vanvalin Investment Group bought a new stake in shares of L3Harris Technologies in the 1st quarter worth approximately $103,000. J.W. Cole Advisors Inc. lifted its holdings in shares of L3Harris Technologies by 5.9% in the 1st quarter. J.W. Cole Advisors Inc. now owns 1,461 shares of the company’s stock worth $363,000 after acquiring an additional 81 shares during the last quarter. Peachtree Investment Partners LLC lifted its holdings in shares of L3Harris Technologies by 4.4% in the 1st quarter. Peachtree Investment Partners LLC now owns 2,948 shares of the company’s stock worth $733,000 after acquiring an additional 123 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of 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 worth $1,999,292,000 after acquiring an additional 2,293,072 shares during the last quarter. 83.00% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada initiated coverage on shares of L3Harris Technologies in a report on Monday, August 29th. They issued an “outperform” rating and a $285.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, L3Harris Technologies has a consensus rating of “Moderate Buy” and an average price target of $267.91.

L3Harris Technologies Stock Up 0.7 %

Shares of NYSE LHX opened at $230.01 on Friday. 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 52 week low of $200.71 and a 52 week high of $279.71. The firm’s fifty day moving average is $232.02 and its 200 day moving average is $239.96. The company has a market cap of $44.01 billion, a price-to-earnings ratio of 23.69, a PEG ratio of 5.12 and a beta of 0.68.

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. L3Harris Technologies had a net margin of 11.36% and a return on equity of 13.09%. The company had revenue of $4.14 billion for the quarter, compared to the consensus estimate of $4.23 billion. During the same period in the previous year, the firm earned $3.26 earnings per share. The firm’s revenue for the quarter was down 11.4% on a year-over-year basis. On average, equities research analysts expect that L3Harris Technologies, Inc. will post 13.45 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

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

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, SVP Scott T. Mikuen sold 8,518 shares of the business’s stock in a transaction on Friday, August 19th. The shares were 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 of the company’s stock, valued at approximately $10,644,693.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other L3Harris Technologies news, SVP Scott T. Mikuen sold 8,518 shares of the business’s stock in a transaction on Friday, August 19th. The shares were 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 of the company’s stock, valued at approximately $10,644,693.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP James P. Girard sold 7,500 shares of the business’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $240.00, for a total transaction of $1,800,000.00. Following 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. In the last ninety days, insiders have sold 23,518 shares of company stock valued at $5,626,858. 1.00% of the stock is currently owned by company insiders.

L3Harris Technologies 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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