MBB Public Markets I LLC buys shares of 13,585 shares of L3Harris Technologies, Inc. (NYSE:LHX)

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MBB Public Markets I LLC purchased a new position in shares of L3Harris Technologies, Inc. (NYSE:LHX – Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 13,585 shares of the company’s stock, valued at approximately $3,051,000.

A number of other hedge funds have also modified their holdings of LHX. 9258 Wealth Management LLC raised its holdings in shares of L3Harris Technologies by 20.0% during the 4th quarter. 9258 Wealth Management LLC now owns 4,371 shares of the company’s stock worth $921,000 after buying an additional 727 shares in the period time. Rollins Financial purchased a new position in shares of L3Harris Technologies in the fourth quarter valued at $217,000. Gryphon Financial Partners LLC increased its holdings in shares of L3Harris Technologies by 26.1% during the 4th quarter. Gryphon Financial Partners LLC now owns 1,808 shares of the company’s stock worth $384,000 after purchasing an additional 374 shares during the period respective. TD Asset Management Inc grew its holdings in shares of L3Harris Technologies by 6.2% during the fourth quarter. TD Asset Management Inc now owns 85,173 shares of the company’s stock worth $17,939,000 after purchasing an additional 4,992 shares during the period. Finally, Stifel Financial Corp grew its holdings in shares of L3Harris Technologies by 3.9% during the 4th quarter. Stifel Financial Corp now owns 175,895 shares of the company’s stock worth $37,057,000 after buying another 6,675 shares during that period. 84.76% of the shares are currently held by hedge funds and other institutional investors.

Insider buying and selling

In related news, insider Ross Niebergall sold 2,988 shares of the business’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 transaction 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 document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Ross Niebergall sold 2,988 shares of the business’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 transaction 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 Securities & Exchange Commission, which is available at this link. Also, SVP Scott T. Mikuen sold 15,887 shares of the firm’s stock in a transaction that occurred on 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 29,402 shares of company stock worth $6,861,855 in the last quarter. 0.82% of shares are owned by insiders.

Analysts set new price targets

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A number of research firms recently weighed in on LHX. Royal Bank of Canada cut L3Harris Technologies from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $250.00 to $240.00 in a report on Wednesday, 14 August. Morgan Stanley cut L3Harris Technologies from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $275.00 to $257.00 in a research note on Friday, 9 August. Barclays boosted their target price on L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft lowered 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, 26 July. Finally, 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 note on Wednesday, July 31st . Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $247.08.

See the latest stock analysis on L3Harris Technologies

L3Harris Technologies Price Performance

Shares of LHX opened at $234.99 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. L3 Harris Technologies, Inc. has a 1 year low of $160.25 and a 1 year high of $245.60. The firm has a market cap of $44.57 billion, a P/E ratio of 38.15, a P/E/G ratio of 2.04 and a beta of 0.73. The company’s 50-day moving average is $231.09, and its two-hundred-day moving average is $222.53.

L3Harris Technologies (NYSE:LHX – Get Your Free Report ) last posted its earnings results on Thursday, July 25th. The company reported $3.24 earnings per share for the quarter, topping 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 company had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.30 billion. In the same quarter last year, the company earned $2.97 EPS. The company’s quarterly revenue was up 12.9% year over year. Analysts anticipate that L3Harris Technologies, Inc. will record 13.06 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were given a dividend of $1.16 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a dividend of $4.64 on an annualized basis and a yield of 1.97%. L3Harris Technologies’ dividend payout ratio is currently 75.32%.

L3Harris Technologies Company 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.