AdvisorNet Financial Inc Reduces Position in L3Harris Technologies, Inc. (NYSE:LHX)

AdvisorNet Financial Inc cut its position in L3Harris Technologies, Inc. (NYSE:LHXGet Rating) by 20.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 532 shares of the company’s stock after selling 139 shares during the period. AdvisorNet Financial Inc’s holdings in L3Harris Technologies were worth $129,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Wagner Wealth Management LLC boosted its holdings in shares of L3Harris Technologies by 296.9% in the 4th quarter. Wagner Wealth Management LLC now owns 127 shares of the company’s stock valued at $27,000 after buying an additional 95 shares in the last quarter. Lloyd Advisory Services LLC. acquired a new position in shares of L3Harris Technologies in the 1st quarter valued at $35,000. Selective Wealth Management Inc. boosted its holdings in shares of L3Harris Technologies by 317.1% in the 1st quarter. Selective Wealth Management Inc. now owns 171 shares of the company’s stock valued at $42,000 after buying an additional 130 shares in the last quarter. TFO TDC LLC acquired a new position in shares of L3Harris Technologies in the 1st quarter valued at $48,000. Finally, GW&K Investment Management LLC acquired a new position in shares of L3Harris Technologies in the 1st quarter valued at $58,000. 83.00% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Stock Up 0.1 %

LHX stock opened at $228.72 on Thursday. L3Harris Technologies, Inc. has a one year low of $200.71 and a one year high of $279.71. The stock has a market capitalization of $43.77 billion, a PE ratio of 23.56, a price-to-earnings-growth ratio of 5.15 and a beta of 0.68. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.01 and a current ratio of 1.27. The company has a fifty day moving average of $231.81 and a 200-day moving average of $239.34.

L3Harris Technologies (NYSE:LHXGet Rating) last released 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 during the quarter, compared to analysts’ expectations of $4.23 billion. During the same quarter last year, the business earned $3.26 EPS. The business’s revenue was down 11.4% on a year-over-year basis. As a group, analysts expect that L3Harris Technologies, Inc. will post 13.45 EPS for the current year.

L3Harris Technologies Dividend Announcement

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

Wall Street Analyst Weigh In

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 target price for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $267.91.

Insider Transactions at L3Harris Technologies

In other news, SVP Scott T. Mikuen sold 8,518 shares of the firm’s stock in a transaction 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 owns 44,735 shares in the company, valued at approximately $10,644,693.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Scott T. Mikuen sold 8,518 shares of the stock in a transaction dated 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 transaction, the senior vice president now owns 44,735 shares in the company, valued at approximately $10,644,693.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP James P. Girard sold 7,500 shares of the stock in a transaction dated Friday, July 8th. The shares were 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 disclosure for this sale can be found here. In the last quarter, insiders sold 23,518 shares of company stock worth $5,626,858. Company insiders own 1.00% of the company’s stock.

L3Harris Technologies Company 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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