L3Harris Technologies, Inc. (NYSE:LHX) Stock Holdings Lessened by Stokes Capital Advisors LLC

Stokes Capital Advisors LLC reduced its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 8.2% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 25,874 shares of the company’s stock after selling 2,324 shares during the quarter. Stokes Capital Advisors LLC’s holdings in L3Harris Technologies were worth $5,065,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Hanson & Doremus Investment Management bought a new stake in L3Harris Technologies in the 1st quarter valued at about $25,000. Cowa LLC bought a new stake in L3Harris Technologies in the 1st quarter valued at about $26,000. Strategic Investment Solutions Inc. IL bought a new stake in L3Harris Technologies in the 1st quarter valued at about $27,000. Eagle Bay Advisors LLC bought a new stake in L3Harris Technologies in the 2nd quarter valued at about $30,000. Finally, CVA Family Office LLC lifted its position in L3Harris Technologies by 58.0% in the 2nd quarter. CVA Family Office LLC now owns 158 shares of the company’s stock valued at $31,000 after purchasing an additional 58 shares during the last quarter. 81.33% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other L3Harris Technologies news, President Edward J. Zoiss sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $90.84, for a total value of $2,725,200.00. Following the completion of the transaction, the president now directly owns 31,923 shares in the company, valued at $2,899,885.32. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on LHX. Wells Fargo & Company upgraded shares of L3Harris Technologies from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $204.00 to $209.00 in a research report on Monday. Citigroup began coverage on shares of L3Harris Technologies in a research note on Monday, September 11th. They set a “buy” rating and a $193.00 target price on the stock. StockNews.com began coverage on shares of L3Harris Technologies in a research note on Thursday, August 17th. They set a “buy” rating on the stock. The Goldman Sachs Group raised their target price on shares of L3Harris Technologies from $162.00 to $164.00 in a research note on Friday, August 11th. Finally, Sanford C. Bernstein cut shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $239.00 to $210.00 in a research note on Monday, August 28th. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $229.36.

L3Harris Technologies Price Performance

Shares of LHX traded up $2.72 during mid-day trading on Monday, hitting $175.44. The company’s stock had a trading volume of 248,049 shares, compared to its average volume of 1,133,368. The firm has a 50-day moving average price of $184.77 and a 200 day moving average price of $190.61. The stock has a market capitalization of $33.18 billion, a price-to-earnings ratio of 41.46, a PEG ratio of 4.66 and a beta of 0.72. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.09 and a quick ratio of 0.84. L3Harris Technologies, Inc. has a fifty-two week low of $167.14 and a fifty-two week high of $255.10.

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

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 19th. Shareholders of record on Tuesday, September 5th will be issued a $1.14 dividend. This represents a $4.56 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend is Friday, September 1st. L3Harris Technologies’s payout ratio is 108.57%.

About L3Harris Technologies

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.