L3Harris Technologies, Inc. (NYSE:LHX) Shares Acquired by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA grew its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 0.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,456,451 shares of the company’s stock after buying an additional 9,036 shares during the period. Massachusetts Financial Services Co. MA owned 0.77% of L3Harris Technologies worth $327,090,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Stifel Financial Corp boosted its stake in L3Harris Technologies by 3.9% during the fourth quarter. Stifel Financial Corp now owns 175,895 shares of the company’s stock worth $37,057,000 after buying an additional 6,675 shares during the period. Scout Investments Inc. increased its holdings in shares of L3Harris Technologies by 59.4% in the 4th quarter. Scout Investments Inc. now owns 36,025 shares of the company’s stock valued at $7,588,000 after acquiring an additional 13,423 shares during the period. Wellington Management Group LLP increased its holdings in shares of L3Harris Technologies by 34.7% in the 4th quarter. Wellington Management Group LLP now owns 4,416,904 shares of the company’s stock valued at $930,288,000 after acquiring an additional 1,138,549 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of L3Harris Technologies by 17.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 43,838 shares of the company’s stock valued at $9,845,000 after acquiring an additional 6,634 shares during the period. Finally, Edgestream Partners L.P. grew its position in L3Harris Technologies by 151.6% in the 1st quarter. Edgestream Partners L.P. now owns 3,859 shares of the company’s stock valued at $822,000 after buying an additional 2,325 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, SVP Scott T. Mikuen sold 10,527 shares of the stock in a transaction on 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 of the company’s stock, valued at $10,951,680. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $236.68, for a total value of $707,199.84. Following 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 filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Scott T. Mikuen sold 10,527 shares of the stock in a transaction on 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 completion of the sale, the senior vice president now directly owns 47,616 shares in the company, valued at $10,951,680. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,402 shares of company stock valued at $6,861,855. Corporate insiders own 0.82% of the company’s stock.

L3Harris Technologies Stock Up 0.8 %

NYSE LHX opened at $231.69 on Tuesday. The stock has a market cap of $43.95 billion, a PE ratio of 37.61, a P/E/G ratio of 1.95 and a beta of 0.73. L3Harris Technologies, Inc. has a fifty-two week low of $160.25 and a fifty-two week high of $245.60. The business has a 50 day moving average price of $231.19 and a two-hundred day moving average price of $221.39. 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 released its 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. The company had revenue of $5.30 billion during the quarter, compared to analysts’ expectations of $5.30 billion. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The business’s revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the business posted $2.97 EPS. As a group, sell-side analysts predict that L3Harris Technologies, Inc. will post 13.06 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 2.00%. The ex-dividend date is Friday, September 6th. L3Harris Technologies’s dividend payout ratio is currently 75.32%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lowered shares of L3Harris Technologies from a “buy” rating to a “hold” rating and lifted their price objective for the company from $245.00 to $257.00 in a research report on Friday, July 26th. Barclays boosted their target price 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. Susquehanna boosted their target price on shares of L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research note on Monday, July 29th. Wells Fargo & Company dropped their price objective on shares of L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Finally, Morgan Stanley downgraded shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $275.00 to $257.00 in a research note on Friday, August 9th. Five research 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 company currently has an average rating of “Moderate Buy” and an average price target of $247.08.

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.