HighTower Advisors LLC Trims Holdings in L3Harris Technologies Inc $LHX

HighTower Advisors LLC lessened its holdings in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 2.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,242 shares of the company's stock after selling 1,413 shares during the period. HighTower Advisors LLC's holdings in L3Harris Technologies were worth $10,516,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Transce3nd LLC increased its holdings in L3Harris Technologies by 7.9% during the 1st quarter. Transce3nd LLC now owns 652 shares of the company's stock valued at $137,000 after purchasing an additional 48 shares during the period. Koshinski Asset Management Inc. grew its holdings in shares of L3Harris Technologies by 3.1% during the 1st quarter. Koshinski Asset Management Inc. now owns 1,688 shares of the company's stock worth $353,000 after acquiring an additional 50 shares during the period. Cobblestone Capital Advisors LLC NY grew its holdings in shares of L3Harris Technologies by 2.2% during the 1st quarter. Cobblestone Capital Advisors LLC NY now owns 2,404 shares of the company's stock worth $503,000 after acquiring an additional 51 shares during the period. CWC Advisors LLC. grew its holdings in shares of L3Harris Technologies by 2.1% during the 4th quarter. CWC Advisors LLC. now owns 2,596 shares of the company's stock worth $546,000 after acquiring an additional 53 shares during the period. Finally, Callan Capital LLC grew its holdings in shares of L3Harris Technologies by 5.0% during the 1st quarter. Callan Capital LLC now owns 1,107 shares of the company's stock worth $232,000 after acquiring an additional 53 shares during the period. Hedge funds and other institutional investors own 84.76% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on LHX. Robert W. Baird upped their target price on L3Harris Technologies from $274.00 to $320.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Sanford C. Bernstein reiterated an "outperform" rating on shares of L3Harris Technologies in a report on Monday, July 14th. Barclays upped their target price on L3Harris Technologies from $255.00 to $305.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. UBS Group upped their target price on L3Harris Technologies from $262.00 to $280.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. Finally, Susquehanna boosted their price target on L3Harris Technologies from $300.00 to $320.00 and gave the stock a "positive" rating in a research report on Friday, July 25th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $279.47.

L3Harris Technologies Stock Performance

LHX stock opened at $270.72 on Monday. The stock has a market capitalization of $50.65 billion, a PE ratio of 30.25, a price-to-earnings-growth ratio of 1.98 and a beta of 0.77. L3Harris Technologies Inc has a 12-month low of $193.09 and a 12-month high of $280.52. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57. The stock's 50 day simple moving average is $260.99 and its 200 day simple moving average is $231.84.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The company reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.48 by $0.30. The business had revenue of $5.43 billion for the quarter, compared to analysts' expectations of $5.31 billion. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%. The firm's quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the firm posted $3.24 EPS. As a group, research analysts forecast that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Stockholders of record on Friday, September 5th will be issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, September 5th. L3Harris Technologies's dividend payout ratio is presently 53.63%.

Insider Buying and Selling at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 72,000 shares of the stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $271.14, for a total transaction of $19,522,080.00. Following the transaction, the chief executive officer directly owned 145,578 shares of the company's stock, valued at $39,472,018.92. This represents a 33.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Edward J. Zoiss sold 2,000 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $245.00, for a total value of $490,000.00. Following the transaction, the insider directly owned 25,325 shares in the company, valued at $6,204,625. The trade was a 7.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 147,199 shares of company stock worth $39,045,071 over the last three months. Insiders own 0.72% of the company's stock.

L3Harris Technologies Profile

L3Harris Technologies, Inc provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides intelligence, surveillance, and reconnaissance (ISR) systems, passive sensing and targeting, electronic attack, autonomy, power and communications, and networks and sensors, as well as advanced combat systems for air, land, and sea sectors.

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