L3Harris Technologies, Inc. (NYSE:LHX) Position Reduced by ICW Investment Advisors LLC

ICW Investment Advisors LLC reduced its position in L3Harris Technologies, Inc. (NYSE:LHX) by 1.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,026 shares of the company’s stock after selling 120 shares during the period. ICW Investment Advisors LLC’s holdings in L3Harris Technologies were worth $1,802,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Boston Partners grew its position in L3Harris Technologies by 107.2% during the 4th quarter. Boston Partners now owns 813,558 shares of the company’s stock worth $171,343,000 after purchasing an additional 420,943 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of L3Harris Technologies by 40.0% during the fourth quarter. Victory Capital Management Inc. now owns 106,231 shares of the company’s stock valued at $22,374,000 after buying an additional 30,358 shares in the last quarter. Stifel Financial Corp grew its holdings in shares of L3Harris Technologies by 3.9% during the fourth quarter. Stifel Financial Corp now owns 175,895 shares of the company’s stock valued at $37,057,000 after buying an additional 6,675 shares in the last quarter. Scout Investments Inc. raised its position in 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 during the period. Finally, Wellington Management Group LLP lifted its stake in L3Harris Technologies by 34.7% in the 4th 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 in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Wells Fargo & Company lowered their target price 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. Royal Bank of Canada downgraded shares of L3Harris Technologies from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $250.00 to $240.00 in a research report on Wednesday, August 14th. Susquehanna increased their price objective on L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a report on Monday, July 29th. Morgan Stanley cut L3Harris Technologies from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $275.00 to $257.00 in a research report on Friday, August 9th. Finally, 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 report on Friday, July 26th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, L3Harris Technologies has an average rating of “Moderate Buy” and an average target price of $247.08.

Insider Activity at L3Harris Technologies

In other news, VP Sean J. Stackley sold 3,354 shares of the firm’s stock in a transaction 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 sale, the vice president now 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 at this hyperlink. In other news, VP Sean J. Stackley sold 3,354 shares of the company’s stock in a transaction dated 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 transaction, the vice president now owns 17,540 shares of the company’s stock, valued at $3,823,720. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction dated 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 in the company, valued at $3,861,670.88. The disclosure for this sale can be found here. Insiders sold a total of 36,110 shares of company stock worth $8,319,939 in the last 90 days. 0.82% of the stock is owned by company insiders.

L3Harris Technologies Stock Performance

LHX stock traded down $1.51 during midday trading on Friday, hitting $231.01. 22,371 shares of the company traded hands, compared to its average volume of 954,094. The business has a 50 day simple moving average of $230.55 and a 200-day simple moving average of $220.49. 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, Inc. has a twelve month low of $160.25 and a twelve month high of $245.60. The stock has a market capitalization of $43.82 billion, a price-to-earnings ratio of 37.75, a price-to-earnings-growth ratio of 1.96 and a beta of 0.73.

L3Harris Technologies (NYSE:LHX) last announced its 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. The firm 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 business’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter last year, the firm posted $2.97 EPS. As a group, equities research analysts predict that L3Harris Technologies, Inc. will post 13.06 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, September 6th. This represents a $4.64 annualized dividend and a dividend yield of 2.01%. L3Harris Technologies’s dividend payout ratio is presently 75.32%.

L3Harris Technologies 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.