Alaethes Wealth LLC Boosts Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Alaethes Wealth LLC grew its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 3.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,555 shares of the company’s stock after buying an additional 195 shares during the period. Alaethes Wealth LLC’s holdings in L3Harris Technologies were worth $1,472,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in LHX. Meeder Asset Management Inc. raised its holdings in L3Harris Technologies by 260.6% during the second quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock worth $27,000 after purchasing an additional 86 shares in the last quarter. Transcendent Capital Group LLC acquired a new stake in L3Harris Technologies during the 4th quarter worth $28,000. EntryPoint Capital LLC lifted its position in L3Harris Technologies by 70.4% in the first quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock valued at $36,000 after acquiring an additional 69 shares during the last quarter. Versant Capital Management Inc boosted its stake in L3Harris Technologies by 77.7% in the second quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock valued at $41,000 after acquiring an additional 80 shares in the last quarter. Finally, Family Firm Inc. acquired a new position in L3Harris Technologies in the second quarter valued at $45,000. 84.76% of the stock is owned by institutional investors and hedge funds.

L3Harris Technologies Trading Up 1.2 %

NYSE LHX opened at $233.21 on Friday. L3Harris Technologies, Inc. has a 52-week low of $160.25 and a 52-week high of $245.60. The firm has a 50-day moving average price of $231.36 and a 200 day moving average price of $221.77. The stock has a market capitalization of $44.24 billion, a P/E ratio of 37.86, a P/E/G ratio of 1.95 and a beta of 0.73. The company has a quick ratio of 0.74, a current ratio of 0.90 and a debt-to-equity ratio of 0.56.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, July 25th. The company reported $3.24 EPS for the quarter, beating the consensus estimate 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 last year, the firm earned $2.97 EPS. The company’s quarterly revenue was up 12.9% compared to the same quarter last year. Equities research analysts expect that L3Harris Technologies, Inc. will post 13.06 EPS for the current year.

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were paid a dividend of $1.16 per share. The ex-dividend date 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%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on LHX shares. Wells Fargo & Company reduced their target price on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Susquehanna boosted their price objective on L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research note on Monday, July 29th. Barclays increased their price objective on L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft cut shares of L3Harris Technologies from a “buy” rating to a “hold” rating and lifted their target price for the company from $245.00 to $257.00 in a report on Friday, July 26th. Finally, Royal Bank of Canada cut shares of L3Harris Technologies from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $250.00 to $240.00 in a research note on Wednesday, August 14th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, L3Harris Technologies presently has an average rating of “Moderate Buy” and an average target price of $247.08.

Insider Activity

In related news, SVP Scott T. Mikuen sold 10,527 shares of the business’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $230.00, for a total transaction of $2,421,210.00. Following the sale, the senior vice president now owns 47,616 shares of the company’s stock, valued at $10,951,680. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, SVP Scott T. Mikuen sold 10,527 shares of L3Harris Technologies stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $230.00, for a total transaction of $2,421,210.00. Following the completion of the transaction, the senior vice president now directly owns 47,616 shares of the company’s stock, valued at $10,951,680. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Scott T. Mikuen sold 15,887 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $235.00, for a total value of $3,733,445.00. Following the completion of the sale, the senior vice president now directly owns 47,616 shares in the company, valued at approximately $11,189,760. The disclosure for this sale can be found here. Insiders sold 29,402 shares of company stock worth $6,861,855 in the last 90 days. 0.82% of the stock is currently owned by corporate insiders.

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.