Edgestream Partners L.P. Buys 698 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Edgestream Partners L.P. increased its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 18.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,557 shares of the company’s stock after buying an additional 698 shares during the quarter. Edgestream Partners L.P.’s holdings in L3Harris Technologies were worth $1,023,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of LHX. Meeder Asset Management Inc. lifted its position in shares of L3Harris Technologies by 260.6% during the 2nd quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock worth $27,000 after buying an additional 86 shares during the period. Transcendent Capital Group LLC bought a new position in shares of L3Harris Technologies during the 4th quarter worth approximately $28,000. EntryPoint Capital LLC lifted its position in shares of L3Harris Technologies by 70.4% during the 1st quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock worth $36,000 after buying an additional 69 shares during the period. Versant Capital Management Inc lifted its position in shares of L3Harris Technologies by 77.7% during the 2nd quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock worth $41,000 after buying an additional 80 shares during the period. Finally, Family Firm Inc. bought a new position in shares of L3Harris Technologies during the 2nd quarter worth approximately $45,000. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Up 1.2 %

NYSE LHX opened at $233.21 on Friday. The stock has a fifty day moving average of $231.36 and a 200-day moving average of $221.77. The stock has a market capitalization of $44.24 billion, a P/E ratio of 37.86, a price-to-earnings-growth ratio of 1.95 and a beta of 0.73. L3Harris Technologies, Inc. has a 52 week low of $160.25 and a 52 week high of $245.60. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.74 and a current ratio of 0.90.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, July 25th. The company reported $3.24 EPS for the quarter, topping analysts’ consensus estimates of $3.18 by $0.06. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The business had revenue of $5.30 billion during the quarter, compared to analysts’ expectations of $5.30 billion. During the same period in the previous year, the firm earned $2.97 earnings per share. The firm’s quarterly revenue was up 12.9% compared to the same quarter last year. On average, equities research analysts forecast that L3Harris Technologies, Inc. will post 13.06 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were paid a dividend of $1.16 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.99%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on LHX. Wells Fargo & Company cut their price objective on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Morgan Stanley downgraded L3Harris Technologies from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $275.00 to $257.00 in a research report on Friday, August 9th. Royal Bank of Canada downgraded L3Harris Technologies from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $250.00 to $240.00 in a research report on Wednesday, August 14th. Susquehanna lifted their price objective on L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research report on Monday, July 29th. Finally, Barclays lifted their price objective on L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $247.08.

Insider Buying and Selling

In related news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $236.68, for a total transaction of $707,199.84. Following the completion of the sale, the insider now directly owns 16,316 shares of the company’s stock, valued at $3,861,670.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $236.68, for a total value of $707,199.84. Following the completion of the transaction, the insider now directly owns 16,316 shares of the company’s stock, valued at $3,861,670.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Scott T. Mikuen sold 10,527 shares of the firm’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $230.00, for a total value of $2,421,210.00. Following the sale, the senior vice president now directly owns 47,616 shares in the company, valued at approximately $10,951,680. The disclosure for this sale can be found here. Insiders sold a total of 29,402 shares of company stock valued at $6,861,855 over the last three months. Company insiders own 0.82% 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.