3Chopt Investment Partners LLC Makes New $401,000 Investment in L3Harris Technologies, Inc. (NYSE:LHX)

3Chopt Investment Partners LLC acquired a new stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 1,784 shares of the company’s stock, valued at approximately $401,000.

Several other institutional investors and hedge funds have also recently modified their holdings of LHX. Vanguard Group Inc. raised its holdings in shares of L3Harris Technologies by 12.9% during the 1st quarter. Vanguard Group Inc. now owns 22,792,779 shares of the company’s stock worth $4,857,141,000 after acquiring an additional 2,606,267 shares in the last quarter. Capital World Investors increased its position in L3Harris Technologies by 26.0% in the fourth quarter. Capital World Investors now owns 16,056,272 shares of the company’s stock worth $3,381,784,000 after purchasing an additional 3,308,506 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in L3Harris Technologies by 0.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,631,207 shares of the company’s stock valued at $2,052,411,000 after purchasing an additional 45,845 shares in the last quarter. Wellington Management Group LLP lifted its position in L3Harris Technologies by 34.7% during the fourth quarter. Wellington Management Group LLP now owns 4,416,904 shares of the company’s stock valued at $930,288,000 after purchasing an additional 1,138,549 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of L3Harris Technologies by 19.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,174,181 shares of the company’s stock worth $712,858,000 after buying an additional 523,315 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

L3Harris Technologies stock opened at $245.29 on Wednesday. The stock has a market cap of $46.53 billion, a price-to-earnings ratio of 39.82, a price-to-earnings-growth ratio of 2.04 and a beta of 0.73. The firm has a 50-day moving average of $231.19 and a two-hundred day moving average of $222.98. L3Harris Technologies, Inc. has a 1 year low of $160.25 and a 1 year high of $247.33. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.90 and a quick ratio of 0.74.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, July 25th. The company reported $3.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.18 by $0.06. The firm had revenue of $5.30 billion during the quarter, compared to analyst estimates of $5.30 billion. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. L3Harris Technologies’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.97 earnings per share. On average, research analysts forecast that L3Harris Technologies, Inc. will post 13.06 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were paid a dividend of $1.16 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $4.64 annualized dividend and a dividend yield of 1.89%. L3Harris Technologies’s dividend payout ratio is currently 75.32%.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, SVP Scott T. Mikuen sold 15,887 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now owns 47,616 shares of the company’s stock, valued at approximately $11,189,760. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Scott T. Mikuen sold 15,887 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 47,616 shares in the company, valued at $11,189,760. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies 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 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 29,402 shares of company stock worth $6,861,855 over the last three months. 0.82% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Susquehanna upped their target price on shares of L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research report on Monday, July 29th. Royal Bank of Canada lowered L3Harris Technologies from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $250.00 to $240.00 in a research note on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft cut L3Harris Technologies from a “buy” rating to a “hold” rating and lifted their target price for the stock from $245.00 to $257.00 in a report on Friday, July 26th. Morgan Stanley lowered L3Harris Technologies from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $275.00 to $257.00 in a report on Friday, August 9th. Finally, Wells Fargo & Company dropped their price objective on shares of L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $247.08.

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.