Quadrant Capital Group LLC decreased its position in shares of L3Harris Technologies, Inc. (NYSE:LHX – Free Report) by 10.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,682 shares of the company’s stock after selling 197 shares during the quarter. Quadrant Capital Group LLC’s holdings in L3Harris Technologies were worth $329,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. HCR Wealth Advisors lifted its holdings in shares of L3Harris Technologies by 1.5% during the second quarter. HCR Wealth Advisors now owns 11,962 shares of the company’s stock worth $2,342,000 after purchasing an additional 174 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of L3Harris Technologies by 35.7% during the second quarter. Russell Investments Group Ltd. now owns 245,661 shares of the company’s stock worth $48,088,000 after purchasing an additional 64,693 shares during the period. US Bancorp DE lifted its holdings in L3Harris Technologies by 12.2% in the second quarter. US Bancorp DE now owns 199,676 shares of the company’s stock valued at $39,091,000 after acquiring an additional 21,728 shares during the period. Private Advisor Group LLC lifted its holdings in L3Harris Technologies by 9.3% in the second quarter. Private Advisor Group LLC now owns 6,605 shares of the company’s stock valued at $1,279,000 after acquiring an additional 563 shares during the period. Finally, Checchi Capital Advisers LLC lifted its holdings in L3Harris Technologies by 13.2% in the second quarter. Checchi Capital Advisers LLC now owns 2,034 shares of the company’s stock valued at $398,000 after acquiring an additional 237 shares during the period. Institutional investors and hedge funds own 81.33% of the company’s stock.
In other news, President Edward J. Zoiss sold 30,000 shares of the company’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $90.84, for a total value of $2,725,200.00. Following the transaction, the president now owns 31,923 shares of the company’s stock, valued at approximately $2,899,885.32. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.82% of the company’s stock.
L3Harris Technologies Stock Performance
L3Harris Technologies (NYSE:LHX – Get Free Report) last released its quarterly earnings data on Thursday, October 26th. The company reported $3.19 earnings per share for the quarter, topping analysts’ consensus estimates of $3.06 by $0.13. The company had revenue of $4.92 billion for the quarter, compared to analyst estimates of $4.95 billion. L3Harris Technologies had a return on equity of 12.66% and a net margin of 7.96%. The firm’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.26 earnings per share. On average, research analysts anticipate that L3Harris Technologies, Inc. will post 12.31 earnings per share for the current year.
L3Harris Technologies Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 17th will be paid a $1.14 dividend. This represents a $4.56 annualized dividend and a dividend yield of 2.46%. The ex-dividend date is Thursday, November 16th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 58.61%.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on the company. StockNews.com raised L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, November 1st. Sanford C. Bernstein downgraded L3Harris Technologies from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $239.00 to $210.00 in a report on Monday, August 28th. Truist Financial decreased their price target on L3Harris Technologies from $255.00 to $227.00 and set a “buy” rating for the company in a report on Friday, October 20th. Robert W. Baird raised L3Harris Technologies from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $198.00 to $216.00 in a report on Tuesday, October 31st. Finally, Jefferies Financial Group cut their price objective on L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating for the company in a research report on Monday, July 31st. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $222.75.
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.
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