L3Harris Technologies, Inc. (NYSE:LHX) Shares Purchased by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. lifted its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 95.8% during the 2nd quarter, HoldingsChannel reports. The fund owned 3,333 shares of the company’s stock after purchasing an additional 1,631 shares during the period. Meeder Advisory Services Inc.’s holdings in L3Harris Technologies were worth $749,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of LHX. Meeder Asset Management Inc. lifted 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 valued at $27,000 after purchasing an additional 86 shares in the last quarter. BOKF NA increased its stake in L3Harris Technologies by 8.3% during the 2nd quarter. BOKF NA now owns 17,278 shares of the company’s stock worth $3,880,000 after buying an additional 1,328 shares in the last quarter. Johnson Investment Counsel Inc. raised its holdings in shares of L3Harris Technologies by 6.2% during the second quarter. Johnson Investment Counsel Inc. now owns 5,101 shares of the company’s stock valued at $1,146,000 after acquiring an additional 299 shares during the last quarter. Bahl & Gaynor Inc. lifted its position in shares of L3Harris Technologies by 32.5% in the second quarter. Bahl & Gaynor Inc. now owns 158,664 shares of the company’s stock valued at $35,633,000 after acquiring an additional 38,896 shares in the last quarter. Finally, Trifecta Capital Advisors LLC boosted its stake in shares of L3Harris Technologies by 62,973.7% in the second quarter. Trifecta Capital Advisors LLC now owns 11,984 shares of the company’s stock worth $2,691,000 after acquiring an additional 11,965 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $229.77 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.74 and a debt-to-equity ratio of 0.56. The firm has a 50-day moving average price of $231.07 and a two-hundred day moving average price of $221.19. L3Harris Technologies, Inc. has a twelve month low of $160.25 and a twelve month high of $245.60. The company has a market capitalization of $43.58 billion, a P/E ratio of 37.30, a price-to-earnings-growth ratio of 1.95 and a beta of 0.73.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, July 25th. The company reported $3.24 earnings per share for the quarter, beating analysts’ consensus estimates of $3.18 by $0.06. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The business had revenue of $5.30 billion during the quarter, compared to analyst estimates of $5.30 billion. During the same quarter in the previous year, the business posted $2.97 earnings per share. The company’s revenue was up 12.9% on a year-over-year basis. As a group, research analysts expect that L3Harris Technologies, Inc. will post 13.06 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be issued a $1.16 dividend. The ex-dividend date is Friday, September 6th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.02%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft lowered L3Harris Technologies from a “buy” rating to a “hold” rating and raised their price objective for the company from $245.00 to $257.00 in a report on Friday, July 26th. Barclays upped their price objective on shares of L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Wells Fargo & Company decreased their target price on shares of L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Susquehanna increased their price target on L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a report on Monday, July 29th. Finally, Morgan Stanley lowered L3Harris Technologies from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $275.00 to $257.00 in a research note on Friday, August 9th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, L3Harris Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $247.08.

Insider Activity

In other news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies 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 transaction, the insider now directly owns 16,316 shares of the company’s stock, valued at approximately $3,861,670.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were 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 approximately $3,861,670.88. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Scott T. Mikuen sold 15,887 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $235.00, for a total value of $3,733,445.00. Following the transaction, the senior vice president now owns 47,616 shares in the company, valued at approximately $11,189,760. The disclosure for this sale can be found here. Insiders sold 32,756 shares of company stock valued at $7,588,767 in the last ninety days. Company insiders own 0.82% of the company’s stock.

About L3Harris Technologies

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.