Gamco Investors INC. ET AL Trims Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Gamco Investors INC. ET AL decreased its position in L3Harris Technologies, Inc. (NYSE:LHX) by 1.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 69,642 shares of the company’s stock after selling 1,353 shares during the period. Gamco Investors INC. ET AL’s holdings in L3Harris Technologies were worth $14,841,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Strong Tower Advisory Services raised its holdings in L3Harris Technologies by 0.9% in the 4th quarter. Strong Tower Advisory Services now owns 5,363 shares of the company’s stock valued at $1,130,000 after buying an additional 49 shares during the period. Oak Harbor Wealth Partners LLC raised its position in L3Harris Technologies by 1.7% in the 1st quarter. Oak Harbor Wealth Partners LLC now owns 2,985 shares of the company’s stock valued at $636,000 after purchasing an additional 49 shares in the last quarter. Blossom Wealth Management grew its position in shares of L3Harris Technologies by 2.1% during the fourth quarter. Blossom Wealth Management now owns 2,465 shares of the company’s stock worth $519,000 after buying an additional 51 shares in the last quarter. JFS Wealth Advisors LLC increased its stake in shares of L3Harris Technologies by 12.2% during the fourth quarter. JFS Wealth Advisors LLC now owns 488 shares of the company’s stock worth $103,000 after buying an additional 53 shares during the period. Finally, Parkside Financial Bank & Trust raised its holdings in L3Harris Technologies by 13.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 504 shares of the company’s stock valued at $106,000 after acquiring an additional 58 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insiders Place Their Bets

In related news, VP Sean J. Stackley sold 3,354 shares of L3Harris Technologies stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $218.00, for a total value of $731,172.00. Following the completion of the sale, the vice president now directly owns 17,540 shares in the company, valued at $3,823,720. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, SVP Scott T. Mikuen sold 15,887 shares of the stock in a transaction 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 transaction, the senior vice president now owns 47,616 shares in the company, valued at $11,189,760. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Sean J. Stackley sold 3,354 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $218.00, for a total value of $731,172.00. Following the completion of the transaction, the vice president now owns 17,540 shares of the company’s stock, valued at $3,823,720. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 109,312 shares of company stock valued at $24,712,822. 0.82% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

LHX has been the topic of a number of analyst reports. Alembic Global Advisors raised shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price objective for the company in a research report on Monday, April 22nd. Wells Fargo & Company upped their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 7th. Royal Bank of Canada raised their target price on L3Harris Technologies from $245.00 to $250.00 and gave the stock an “outperform” rating in a research report on Monday, April 29th. JPMorgan Chase & Co. boosted their target price on L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Finally, Barclays raised their price objective on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a report on Tuesday, April 30th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $232.93.

L3Harris Technologies Trading Down 5.7 %

Shares of L3Harris Technologies stock traded down $13.86 on Friday, reaching $229.41. 2,302,156 shares of the company were exchanged, compared to its average volume of 866,132. L3Harris Technologies, Inc. has a fifty-two week low of $160.25 and a fifty-two week high of $245.60. The stock has a fifty day moving average price of $226.21 and a 200-day moving average price of $215.96. The company has a current ratio of 0.98, a quick ratio of 0.80 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $43.51 billion, a price-to-earnings ratio of 37.24, a price-to-earnings-growth ratio of 2.02 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, July 25th. The company reported $3.24 EPS for the quarter, topping the consensus estimate of $3.18 by $0.06. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.05%. 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 company posted $2.97 earnings per share. The firm’s quarterly revenue was up 12.9% compared to the same quarter last year. On average, analysts expect that L3Harris Technologies, Inc. will post 12.99 EPS for the current year.

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be paid a $1.16 dividend. The ex-dividend date is Friday, September 6th. This represents a $4.64 dividend on an annualized basis and a yield of 2.02%. L3Harris Technologies’s payout ratio is currently 75.32%.

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.