Rise Advisors LLC Sells 235 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Rise Advisors LLC lowered its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 50.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 235 shares of the company’s stock after selling 235 shares during the quarter. Rise Advisors LLC’s holdings in L3Harris Technologies were worth $46,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. State of Wyoming raised its stake in shares of L3Harris Technologies by 27.1% in the fourth quarter. State of Wyoming now owns 230 shares of the company’s stock worth $48,000 after buying an additional 49 shares during the period. Baystate Wealth Management LLC grew its position in shares of L3Harris Technologies by 12.4% during the first quarter. Baystate Wealth Management LLC now owns 471 shares of the company’s stock worth $92,000 after purchasing an additional 52 shares in the last quarter. Apollon Wealth Management LLC grew its position in shares of L3Harris Technologies by 0.9% during the fourth quarter. Apollon Wealth Management LLC now owns 5,925 shares of the company’s stock worth $1,234,000 after purchasing an additional 52 shares in the last quarter. Advisory Services Network LLC grew its position in shares of L3Harris Technologies by 0.9% during the first quarter. Advisory Services Network LLC now owns 6,236 shares of the company’s stock worth $1,224,000 after purchasing an additional 54 shares in the last quarter. Finally, Global Retirement Partners LLC grew its position in shares of L3Harris Technologies by 14.6% during the first quarter. Global Retirement Partners LLC now owns 431 shares of the company’s stock worth $80,000 after purchasing an additional 55 shares in the last quarter. Institutional investors own 81.33% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Wells Fargo & Company increased their target price on L3Harris Technologies from $202.00 to $204.00 and gave the stock an “equal weight” rating in a research report on Friday, July 28th. Sanford C. Bernstein cut L3Harris Technologies from an “outperform” rating to a “market perform” rating and cut their price target for the company from $239.00 to $210.00 in a report on Monday, August 28th. The Goldman Sachs Group raised their price target on L3Harris Technologies from $162.00 to $164.00 in a report on Friday, August 11th. Bank of America cut their price target on L3Harris Technologies from $230.00 to $210.00 and set a “neutral” rating for the company in a report on Wednesday, August 2nd. Finally, Citigroup began coverage on L3Harris Technologies in a report on Monday, September 11th. They set a “buy” rating and a $193.00 price target for the company. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $229.00.

L3Harris Technologies Trading Up 0.7 %

Shares of LHX stock traded up $1.16 on Friday, reaching $172.72. 1,685,930 shares of the company’s stock were exchanged, compared to its average volume of 1,138,532. L3Harris Technologies, Inc. has a 52 week low of $167.14 and a 52 week high of $255.10. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $32.67 billion, a PE ratio of 41.14, a P/E/G ratio of 4.59 and a beta of 0.72. The company’s fifty day simple moving average is $185.21 and its 200 day simple moving average is $191.15.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Wednesday, July 26th. The company reported $2.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.94 by $0.03. L3Harris Technologies had a return on equity of 12.82% and a net margin of 4.46%. The business had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.37 billion. During the same period last year, the business posted $3.23 EPS. The business’s revenue was up 13.5% compared to the same quarter last year. As a group, analysts forecast that L3Harris Technologies, Inc. will post 12.33 EPS for the current year.

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 19th. Stockholders of record on Tuesday, September 5th will be issued a $1.14 dividend. The ex-dividend date is Friday, September 1st. This represents a $4.56 dividend on an annualized basis and a dividend yield of 2.64%. L3Harris Technologies’s dividend payout ratio is presently 108.57%.

Insider Activity

In related news, President Edward J. Zoiss sold 30,000 shares of the business’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $90.84, for a total transaction of $2,725,200.00. Following the transaction, the president now directly owns 31,923 shares in the company, valued at approximately $2,899,885.32. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.82% of the company’s stock.

L3Harris Technologies Profile

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.