Stonebrook Private Inc. Buys 563 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Stonebrook Private Inc. increased its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 20.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,295 shares of the company’s stock after purchasing an additional 563 shares during the quarter. Stonebrook Private Inc.’s holdings in L3Harris Technologies were worth $740,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Los Angeles Capital Management LLC purchased a new position in shares of L3Harris Technologies during the 4th quarter worth about $205,000. 9258 Wealth Management LLC grew its stake in shares of L3Harris Technologies by 20.0% during the fourth quarter. 9258 Wealth Management LLC now owns 4,371 shares of the company’s stock valued at $921,000 after buying an additional 727 shares during the last quarter. Rollins Financial purchased a new stake in shares of L3Harris Technologies in the fourth quarter worth approximately $217,000. Private Advisor Group LLC lifted its stake in shares of L3Harris Technologies by 79.2% during the 4th quarter. Private Advisor Group LLC now owns 12,382 shares of the company’s stock worth $2,608,000 after acquiring an additional 5,473 shares during the last quarter. Finally, Gryphon Financial Partners LLC boosted its holdings in L3Harris Technologies by 26.1% during the 4th quarter. Gryphon Financial Partners LLC now owns 1,808 shares of the company’s stock valued at $384,000 after acquiring an additional 374 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Down 1.8 %

Shares of NYSE:LHX traded down $4.11 during trading on Friday, reaching $227.23. The stock had a trading volume of 640,257 shares, compared to its average volume of 957,625. The firm’s 50-day simple moving average is $230.60 and its 200 day simple moving average is $220.59. The company has a current ratio of 0.90, a quick ratio of 0.74 and a debt-to-equity ratio of 0.56. L3Harris Technologies, Inc. has a one year low of $160.25 and a one year high of $245.60. The company has a market capitalization of $43.10 billion, a P/E ratio of 36.89, a PEG 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 earnings per share for the quarter, beating the consensus estimate of $3.18 by $0.06. The company had revenue of $5.30 billion during 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%. L3Harris Technologies’s revenue was up 12.9% compared to the same quarter last year. During the same period last year, the firm earned $2.97 earnings per share. As a group, research analysts expect that L3Harris Technologies, Inc. will post 13.06 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently declared 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 is Friday, September 6th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.04%. L3Harris Technologies’s payout ratio is 75.32%.

Insider Activity at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 16,316 shares of the company’s stock, valued at $3,861,670.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, VP Sean J. Stackley sold 3,354 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was 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 legal filing with the SEC, which is available through this link. Also, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $236.68, for a total transaction of $707,199.84. Following the transaction, the insider now directly owns 16,316 shares of the company’s stock, valued at $3,861,670.88. The disclosure for this sale can be found here. Insiders sold 36,110 shares of company stock valued at $8,319,939 in the last three months. 0.82% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on LHX shares. Morgan Stanley downgraded L3Harris Technologies from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $275.00 to $257.00 in a research report on Friday, August 9th. Susquehanna lifted their price objective 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 downgraded 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 26th. Royal Bank of Canada lowered L3Harris Technologies from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $250.00 to $240.00 in a report on Wednesday, August 14th. Finally, Wells Fargo & Company reduced their price objective on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $247.08.

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.