Y.D. More Investments Ltd Lowers Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Y.D. More Investments Ltd reduced its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 40.6% during the second quarter, Holdings Channel.com reports. The fund owned 1,925 shares of the company’s stock after selling 1,315 shares during the quarter. Y.D. More Investments Ltd’s holdings in L3Harris Technologies were worth $377,000 at the end of the most recent quarter.

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

L3Harris Technologies Stock Performance

Shares of LHX traded up $1.34 during trading hours on Monday, hitting $174.06. The stock had a trading volume of 154,778 shares, compared to its average volume of 1,132,596. The firm has a 50-day moving average price of $184.77 and a 200 day moving average price of $190.61. L3Harris Technologies, Inc. has a fifty-two week low of $167.14 and a fifty-two week high of $255.10. The firm has a market capitalization of $32.92 billion, a price-to-earnings ratio of 41.12, a PEG ratio of 4.59 and a beta of 0.72. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.84 and a current ratio of 1.09.

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

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 19th. Stockholders of record on Tuesday, September 5th will be given a dividend of $1.14 per share. The ex-dividend date of this dividend is Friday, September 1st. This represents a $4.56 dividend on an annualized basis and a dividend yield of 2.62%. L3Harris Technologies’s dividend payout ratio (DPR) is 108.57%.

Wall Street Analysts Forecast Growth

LHX has been the subject of a number of analyst reports. Bank of America lowered their target price on L3Harris Technologies from $230.00 to $210.00 and set a “neutral” rating for the company in a report on Wednesday, August 2nd. Sanford C. Bernstein downgraded shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $239.00 to $210.00 in a report on Monday, August 28th. Citigroup assumed coverage on shares of L3Harris Technologies in a report on Monday, September 11th. They issued a “buy” rating and a $193.00 price target on the stock. StockNews.com started coverage on shares of L3Harris Technologies in a research note on Thursday, August 17th. They set a “buy” rating for the company. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $240.00 price target on shares of L3Harris Technologies in a research note on Friday, August 18th. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $229.36.

Insider Buying and Selling at L3Harris Technologies

In other news, President Edward J. Zoiss sold 30,000 shares of the business’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $90.84, for a total transaction of $2,725,200.00. Following the completion of the sale, the president now owns 31,923 shares of the company’s stock, valued at $2,899,885.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.