Seeyond Trims Position in L3Harris Technologies, Inc. (NYSE:LHX)

Seeyond cut its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 0.7% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 12,387 shares of the company’s stock after selling 82 shares during the quarter. Seeyond’s holdings in L3Harris Technologies were worth $2,677,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Covington Capital Management increased its stake in shares of L3Harris Technologies by 1.4% during the second quarter. Covington Capital Management now owns 45,048 shares of the company’s stock valued at $9,737,000 after buying an additional 642 shares during the period. TrinityPoint Wealth LLC grew its stake in L3Harris Technologies by 4.0% in the second quarter. TrinityPoint Wealth LLC now owns 2,617 shares of the company’s stock worth $566,000 after purchasing an additional 100 shares during the period. Toroso Investments LLC grew its stake in L3Harris Technologies by 75.4% in the second quarter. Toroso Investments LLC now owns 3,239 shares of the company’s stock worth $700,000 after purchasing an additional 1,392 shares during the period. Brown Brothers Harriman & Co. grew its stake in L3Harris Technologies by 14.4% in the second quarter. Brown Brothers Harriman & Co. now owns 1,202 shares of the company’s stock worth $260,000 after purchasing an additional 151 shares during the period. Finally, WBI Investments Inc. grew its stake in L3Harris Technologies by 105.4% in the second quarter. WBI Investments Inc. now owns 6,348 shares of the company’s stock worth $1,372,000 after purchasing an additional 3,257 shares during the period. 80.54% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:LHX traded up $0.43 during midday trading on Thursday, reaching $235.01. 1,222 shares of the company’s stock traded hands, compared to its average volume of 1,113,465. The company has a market cap of $47.22 billion, a price-to-earnings ratio of 32.81, a P/E/G ratio of 2.06 and a beta of 0.89. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.50 and a current ratio of 1.70. L3Harris Technologies, Inc. has a one year low of $158.09 and a one year high of $238.40. The stock has a 50 day moving average of $228.94 and a 200 day moving average of $221.26.

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

The company also recently announced a quarterly dividend, which was paid on Friday, September 17th. Shareholders of record on Friday, September 3rd were issued a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend was Thursday, September 2nd. L3Harris Technologies’s dividend payout ratio is 35.17%.

In other news, SVP Scott T. Mikuen sold 8,573 shares of the firm’s stock in a transaction dated Tuesday, July 20th. The stock was sold at an average price of $225.08, for a total value of $1,929,610.84. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Scott T. Mikuen sold 2,826 shares of the firm’s stock in a transaction dated Friday, July 16th. The stock was sold at an average price of $225.36, for a total value of $636,867.36. Following the completion of the transaction, the senior vice president now directly owns 67,712 shares in the company, valued at approximately $15,259,576.32. The disclosure for this sale can be found here. Insiders sold 423,000 shares of company stock worth $97,577,351 in the last ninety days. Corporate insiders own 1.40% of the company’s stock.

LHX has been the topic of several recent research reports. Morgan Stanley cut L3Harris Technologies from an “overweight” rating to an “equal weight” rating and set a $238.00 price target on the stock. in a research note on Wednesday, August 11th. Raymond James increased their target price on L3Harris Technologies from $230.00 to $250.00 and gave the stock an “outperform” 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 on the stock. Susquehanna increased their target price on L3Harris Technologies from $244.00 to $270.00 and gave the stock a “positive” rating in a research note on Wednesday, August 4th. Finally, The Goldman Sachs Group cut L3Harris Technologies from a “neutral” rating to a “sell” rating and set a $207.00 target price on the stock. in a research note on Thursday, September 23rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $233.69.

L3Harris Technologies Company 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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