Pacer Advisors Inc. Has $4.22 Million Holdings in L3Harris Technologies Inc (NYSE:LHX)

Key Points

• Pacer Advisors Inc. reduced its holdings in L3Harris Technologies by 25.4%, now owning 20,174 shares valued at approximately $4.22 million.
• Several institutional investors, including Invesco Ltd. and GAMMA Investing LLC, have increased their stakes significantly, indicating strong institutional interest in the company.
• The company announced a quarterly dividend of $1.20 per share, which will be paid on September 22nd, reflecting a 1.76% dividend yield.

Pacer Advisors Inc. cut its holdings in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 25.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,174 shares of the company's stock after selling 6,851 shares during the period. Pacer Advisors Inc.'s holdings in L3Harris Technologies were worth $4,223,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in LHX. Invesco Ltd. lifted its stake in L3Harris Technologies by 30.5% during the fourth quarter. Invesco Ltd. now owns 2,235,077 shares of the company's stock valued at $469,992,000 after purchasing an additional 522,861 shares during the last quarter. GAMMA Investing LLC lifted its stake in L3Harris Technologies by 18,295.3% during the first quarter. GAMMA Investing LLC now owns 513,228 shares of the company's stock valued at $107,424,000 after purchasing an additional 510,438 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in L3Harris Technologies by 15.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,321,324 shares of the company's stock valued at $486,898,000 after purchasing an additional 311,886 shares during the last quarter. Deutsche Bank AG lifted its stake in L3Harris Technologies by 64.2% during the fourth quarter. Deutsche Bank AG now owns 740,400 shares of the company's stock valued at $155,691,000 after purchasing an additional 289,514 shares during the last quarter. Finally, BNP Paribas Financial Markets acquired a new stake in L3Harris Technologies during the fourth quarter valued at approximately $53,011,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 33,061 shares of the firm's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $248.48, for a total value of $8,214,997.28. Following the transaction, the chief executive officer directly owned 145,572 shares in the company, valued at approximately $36,171,730.56. This trade represents a 18.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Edward J. Zoiss sold 2,000 shares of the firm's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $245.00, for a total transaction of $490,000.00. Following the completion of the transaction, the insider 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. Corporate insiders own 0.72% of the company's stock.

L3Harris Technologies Stock Up 1.0%

Shares of LHX traded up $2.58 during mid-day trading on Tuesday, hitting $272.05. 931,001 shares of the company's stock were exchanged, compared to its average volume of 1,263,304. The firm has a fifty day moving average of $251.91 and a two-hundred day moving average of $226.31. L3Harris Technologies Inc has a twelve month low of $193.09 and a twelve month high of $280.03. The stock has a market cap of $50.90 billion, a price-to-earnings ratio of 30.40, a P/E/G ratio of 2.10 and a beta of 0.75. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.57.

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

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Stockholders of record on Friday, September 5th will be paid a dividend of $1.20 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $4.80 annualized dividend and a dividend yield of 1.76%. L3Harris Technologies's dividend payout ratio (DPR) is 53.63%.

Analyst Ratings Changes

Several equities research analysts recently commented on LHX shares. Jefferies Financial Group reduced their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Robert W. Baird upped their price target on shares of L3Harris Technologies from $274.00 to $320.00 and gave the company an "outperform" rating in a research report on Friday. Citigroup upped their price target on shares of L3Harris Technologies from $300.00 to $323.00 and gave the company a "buy" rating in a research report on Friday. Royal Bank Of Canada upped their price target on shares of L3Harris Technologies from $265.00 to $280.00 and gave the company a "sector perform" rating in a research report on Friday. Finally, Wells Fargo & Company reduced their price target on shares of L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $279.47.

L3Harris Technologies Company 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.