L3Harris Technologies, Inc. (NYSE:LHX) Shares Bought by Transcend Capital Advisors LLC

Transcend Capital Advisors LLC increased its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 86.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,742 shares of the company’s stock after purchasing an additional 1,273 shares during the period. Transcend Capital Advisors LLC’s holdings in L3Harris Technologies were worth $616,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Cross Staff Investments Inc boosted its stake in L3Harris Technologies by 12.4% in the 4th quarter. Cross Staff Investments Inc now owns 1,432 shares of the company’s stock worth $302,000 after purchasing an additional 158 shares in the last quarter. Boston Partners lifted its stake in L3Harris Technologies by 107.2% during the 4th quarter. Boston Partners now owns 813,558 shares of the company’s stock valued at $171,343,000 after acquiring an additional 420,943 shares during the period. Victory Capital Management Inc. lifted its stake in L3Harris Technologies by 40.0% during the 4th quarter. Victory Capital Management Inc. now owns 106,231 shares of the company’s stock valued at $22,374,000 after acquiring an additional 30,358 shares during the period. Stifel Financial Corp lifted its stake in L3Harris Technologies by 3.9% during the 4th quarter. Stifel Financial Corp now owns 175,895 shares of the company’s stock valued at $37,057,000 after acquiring an additional 6,675 shares during the period. Finally, Scout Investments Inc. lifted its stake in L3Harris Technologies by 59.4% during 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. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, 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 transaction of $731,172.00. Following the completion of the sale, the vice president now owns 17,540 shares in the company, valued at approximately $3,823,720. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, 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 transaction of $731,172.00. Following the completion of the sale, the vice president now owns 17,540 shares in the company, valued at approximately $3,823,720. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Scott T. Mikuen sold 10,527 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $230.00, for a total transaction of $2,421,210.00. Following the sale, the senior vice president now owns 47,616 shares of the company’s stock, valued at approximately $10,951,680. The disclosure for this sale can be found here. Insiders sold a total of 109,312 shares of company stock valued at $24,712,822 in the last 90 days. Company insiders own 0.82% of the company’s stock.

L3Harris Technologies Price Performance

Shares of L3Harris Technologies stock traded up $0.97 during trading hours on Friday, reaching $230.19. 1,080,734 shares of the company’s stock were exchanged, compared to its average volume of 1,004,621. L3Harris Technologies, Inc. has a 1 year low of $160.25 and a 1 year high of $245.60. The company has a market capitalization of $43.66 billion, a P/E ratio of 37.37, a price-to-earnings-growth ratio of 1.90 and a beta of 0.72. The business has a fifty day moving average of $226.57 and a two-hundred day moving average of $216.83. 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 earnings per share (EPS) for the quarter, topping 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 prior year, the firm earned $2.97 earnings per share. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. As a group, research analysts predict that L3Harris Technologies, Inc. will post 13.04 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

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

Analysts Set New Price Targets

Several analysts have commented on LHX shares. JPMorgan Chase & Co. lifted their price objective on shares of L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Alembic Global Advisors raised shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 target price for the company in a report on Monday, April 22nd. Susquehanna lifted their target price on shares of L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft lowered shares of L3Harris Technologies from a “buy” rating to a “hold” rating and lifted their target price for the company from $245.00 to $257.00 in a report on Friday, July 26th. Finally, Barclays lifted their target price on shares of L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $238.50.

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.