Shares of L3Harris Technologies, Inc. (NYSE:LHX) sold by FineMark National Bank & Trust

VaselineSeptember 6, 2024

0 5 minutes read

FineMark National Bank & Trust decreased its position in shares of L3Harris Technologies, Inc. (NYSE:LHX – Free Report) by 3.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,112 shares of the company’s stock after selling 273 shares during the period. FineMark National Bank & Trust’s holdings in L3Harris Technologies were worth $1,597,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of LHX. Boston Partners boosted its position in shares of L3Harris Technologies by 107.2% during the fourth quarter. Boston Partners now owns 813,558 shares of the company’s stock worth $171,343,000 after buying an additional 420,943 shares during the period. Victory Capital Management Inc. raised its stake in shares of L3Harris Technologies by 40.0% in the fourth quarter. Victory Capital Management Inc. now owns 106,231 shares of the company’s stock worth $22,374,000 after purchasing an additional 30,358 shares during the last quarter. Stifel Financial Corp boosted its holdings in shares of L3Harris Technologies by 3.9% in the fourth quarter. Stifel Financial Corp now owns 175,895 shares of the company’s stock valued at $37,057,000 after purchasing an additional 6,675 shares during the period. Scout Investments Inc. raised its stake in shares of L3Harris Technologies by 59.4% during the fourth quarter. Scout Investments Inc. now owns 36,025 shares of the company’s stock valued at $7,588,000 after buying an additional 13,423 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in L3Harris Technologies by 34.7% in the fourth quarter. Wellington Management Group LLP now owns 4,416,904 shares of the company’s stock worth $930,288,000 after acquiring an additional 1,138,549 shares during the period. Institutional investors own 84.76% of the company’s shares.

L3Harris Technologies stock down 1.7%

Shares of LHX opened at $232.52 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.90, and a quick ratio of 0.74. The firm has a market cap of $44.10 billion, a P/E ratio of 37.75, a P/E/G ratio of 1.96 and a beta of 0.73. L3Harris Technologies, Inc. it has a 52-week low of $160.25 and a 52-week high of $245.60. The company’s 50-day simple moving average is $230.55, and its 200-day simple moving average is $220.49.

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L3Harris Technologies (NYSE:LHX – Get Your Free Report ) last announced its earnings results on Thursday, July 25th. The company reported $3.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.18 by $0.06. The company had revenue of $5.30 billion for the quarter, compared to the consensus estimate of $5.30 billion. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The company’s revenue increased by 12.9% year-on-year. During the same period in the prior year, the business earned $2.97 EPS. As a group, equities research analysts anticipate that L3Harris Technologies, Inc. will post 13.06 EPS for the current year.

L3Harris Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be paid a dividend of $1.16 per share. The ex-dividend date of this dividend is Friday, September 6. This represents a dividend of $4.64 on an annualized basis and a yield of 2.00%. L3Harris Technologies’ payout ratio is currently 75.32%.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $236.68, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $236.68, for a total value of $707,199.84. Following the transaction, the insider now owns 16,316 shares in the company, valued at approximately $3,861,670.88. The transaction was disclosed in a filing with the SEC, which can be accessed via this link. Also, SVP Scott T. Mikuen sold 15,887 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $235.00, for a total transaction of $3,733,445.00. Following the completion of the sale, the senior vice president now owns 47,616 shares of the company’s stock, valued at approximately $11,189,760. The disclosure for this sale can be found here. Insiders have sold a total of 36,110 shares of company stock worth $8,319,939 over the last 90 days. 0.82% of shares are currently owned by corporate insiders.

Analysts set new price targets

A number of analysts recently weighed in on LHX shares. Deutsche Bank Aktiengesellschaft lowered shares of L3Harris Technologies from a “buy” rating to a “hold” rating and upped their target price for the stock from $245.00 to $257.00 in a research note on Friday, July 26. Susquehanna upped their target price on L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research report on Monday, July 29th. Wells Fargo & Company cut their price target on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Royal Bank of Canada cut 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 report on Wednesday. August 14. Finally, Morgan Stanley cut L3Harris Technologies from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $275.00 to $257.00 in a report Friday, August 9. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of “Moderate Buy” and a consensus price target of $247.08, according to MarketBeat .

Get the latest stock report on LHX

L3Harris Technologies profile

(Free report)

L3Harris Technologies, Inc provides mission critical solutions for government and commercial customers worldwide. The company’s Integrated Mission Systems segment offers intelligence, surveillance and reconnaissance (ISR), passive detection and targeting, electronic attack, autonomy, power and communications, and networks and sensors systems, as well as advanced air, land and sea combat systems. sectors.