L3Harris Technologies, Inc. (NYSE:LHX) Shares Bought by SFE Investment Counsel

SFE Investment Counsel raised its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 1.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,413 shares of the company’s stock after purchasing an additional 225 shares during the quarter. SFE Investment Counsel’s holdings in L3Harris Technologies were worth $4,196,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Concord Wealth Partners lifted its holdings in shares of L3Harris Technologies by 258.3% during the 1st quarter. Concord Wealth Partners now owns 129 shares of the company’s stock valued at $26,000 after acquiring an additional 93 shares in the last quarter. Bradley & Co. Private Wealth Management LLC purchased a new position in L3Harris Technologies in the first quarter valued at about $26,000. Meridian Wealth Partners LLC acquired a new position in shares of L3Harris Technologies during the first quarter worth about $29,000. Eagle Bay Advisors LLC purchased a new stake in shares of L3Harris Technologies in the second quarter worth about $48,000. Finally, Close Asset Management Ltd acquired a new stake in shares of L3Harris Technologies in the first quarter valued at about $46,000. Institutional investors own 80.54% of the company’s stock.

In related news, SVP Scott T. Mikuen sold 28,321 shares of the firm’s stock in a transaction that occurred on Tuesday, July 13th. The stock was sold at an average price of $225.25, for a total value of $6,379,305.25. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Dana A. Mehnert sold 60,200 shares of the firm’s stock in a transaction that occurred on Thursday, August 5th. The shares were sold at an average price of $231.48, for a total value of $13,935,096.00. The disclosure for this sale can be found here. In the last three months, insiders sold 370,609 shares of company stock worth $85,440,562. Company insiders own 1.40% of the company’s stock.

A number of equities research analysts have recently issued reports on the company. Wells Fargo & Company increased their target price on L3Harris Technologies from $225.00 to $240.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 4th. Wolfe Research assumed coverage on L3Harris Technologies in a research note on Wednesday, September 8th. They issued a “market perform” rating for the company. Susquehanna Bancshares increased their target price on L3Harris Technologies from $244.00 to $270.00 and gave the company a “positive” rating in a research note on Wednesday, August 4th. Raymond James increased their target price on L3Harris Technologies from $230.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, August 4th. Finally, Susquehanna increased their target price on L3Harris Technologies from $244.00 to $270.00 and gave the company a “positive” rating in a research note on Wednesday, August 4th. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $233.77.

NYSE:LHX traded up $2.42 during trading hours on Wednesday, reaching $229.40. 17,113 shares of the stock were exchanged, compared to its average volume of 1,111,211. The stock has a market capitalization of $46.10 billion, a P/E ratio of 31.75, a P/E/G ratio of 2.06 and a beta of 0.89. L3Harris Technologies, Inc. has a 52 week low of $158.09 and a 52 week high of $235.10. The company has a quick ratio of 1.50, a current ratio of 1.70 and a debt-to-equity ratio of 0.35. The firm has a 50 day simple moving average of $229.15 and a 200-day simple moving average of $216.52.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Tuesday, August 3rd. The company reported $3.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.18 by $0.08. The business had revenue of $4.67 billion for the quarter, compared to the consensus estimate of $4.62 billion. L3Harris Technologies had a return on equity of 12.60% and a net margin of 8.17%. The business’s revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the business posted $2.83 EPS. As a group, analysts expect that L3Harris Technologies, Inc. will post 13.03 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 17th. Investors of record on Friday, September 3rd will be issued a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend is Thursday, September 2nd. L3Harris Technologies’s dividend payout ratio (DPR) is 35.17%.

L3Harris Technologies Profile

L3Harris Technologies, Inc engages in the provision of defense and commercial technologies across air, land, sea, space and cyber domains. It operates through the following segments: Integrated Mission Systems; Space and Airborne Systems; Communication Systems; and Aviation Systems. The Integrated Mission Systems segment consists of multi-mission ISR and communication systems; integrated electrical and electronic systems for maritime platforms; and advanced electro-optical and infrared solutions.

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Institutional Ownership by Quarter for L3Harris Technologies (NYSE:LHX)

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