L3Harris Technologies, Inc. (NYSE:LHX) Stock Position Decreased by Beacon Pointe Advisors LLC

Beacon Pointe Advisors LLC cut its position in shares of L3Harris Technologies, Inc. (NYSE:LHXGet Rating) by 10.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,094 shares of the company’s stock after selling 785 shares during the period. Beacon Pointe Advisors LLC’s holdings in L3Harris Technologies were worth $1,711,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LHX. Cetera Investment Advisers increased its holdings in shares of L3Harris Technologies by 1.0% during the 2nd quarter. Cetera Investment Advisers now owns 13,399 shares of the company’s stock valued at $3,239,000 after acquiring an additional 131 shares during the last quarter. Cetera Advisor Networks LLC increased its holdings in shares of L3Harris Technologies by 3.1% during the 2nd quarter. Cetera Advisor Networks LLC now owns 13,912 shares of the company’s stock valued at $3,363,000 after acquiring an additional 413 shares during the last quarter. Cetera Advisors LLC increased its holdings in shares of L3Harris Technologies by 4.0% during the 2nd quarter. Cetera Advisors LLC now owns 13,020 shares of the company’s stock valued at $3,147,000 after acquiring an additional 499 shares during the last quarter. Checchi Capital Advisers LLC increased its holdings in shares of L3Harris Technologies by 15.3% during the 2nd quarter. Checchi Capital Advisers LLC now owns 2,098 shares of the company’s stock valued at $503,000 after acquiring an additional 278 shares during the last quarter. Finally, King Luther Capital Management Corp increased its holdings in shares of L3Harris Technologies by 6.3% during the 2nd quarter. King Luther Capital Management Corp now owns 374,141 shares of the company’s stock valued at $90,430,000 after acquiring an additional 22,121 shares during the last quarter. 83.00% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Price Performance

Shares of LHX stock opened at $226.43 on Thursday. The stock has a 50 day moving average of $229.46 and a two-hundred day moving average of $232.50. The company has a current ratio of 1.10, a quick ratio of 0.87 and a debt-to-equity ratio of 0.32. L3Harris Technologies, Inc. has a 12 month low of $200.71 and a 12 month high of $279.71. The company has a market capitalization of $43.11 billion, a P/E ratio of 39.31, a P/E/G ratio of 6.47 and a beta of 0.75.

L3Harris Technologies (NYSE:LHXGet Rating) last announced its quarterly earnings data on Thursday, October 27th. The company reported $3.26 EPS for the quarter, missing analysts’ consensus estimates of $3.47 by ($0.21). L3Harris Technologies had a return on equity of 13.18% and a net margin of 6.71%. The firm had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $4.41 billion. During the same quarter in the prior year, the business posted $3.21 EPS. L3Harris Technologies’s revenue was up .4% compared to the same quarter last year. As a group, equities analysts expect that L3Harris Technologies, Inc. will post 12.86 EPS for the current year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 2nd. Shareholders of record on Friday, November 18th will be given a $1.12 dividend. The ex-dividend date of this dividend is Thursday, November 17th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 1.98%. L3Harris Technologies’s dividend payout ratio is currently 77.78%.

Insider Buying and Selling

In related news, CEO Christopher E. Kubasik sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $245.22, for a total transaction of $4,904,400.00. Following the completion of the transaction, the chief executive officer now owns 98,926 shares in the company, valued at approximately $24,258,633.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, VP James P. Girard sold 12,460 shares of the firm’s stock in a transaction that occurred on Monday, October 17th. The stock was sold at an average price of $220.00, for a total transaction of $2,741,200.00. Following the completion of the transaction, the vice president now owns 12,144 shares in the company, valued at approximately $2,671,680. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Christopher E. Kubasik sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $245.22, for a total value of $4,904,400.00. Following the transaction, the chief executive officer now owns 98,926 shares of the company’s stock, valued at approximately $24,258,633.72. The disclosure for this sale can be found here. Insiders sold 37,460 shares of company stock worth $8,792,500 in the last 90 days. 1.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on LHX shares. Royal Bank of Canada started coverage on L3Harris Technologies in a report on Monday, August 29th. They set an “outperform” rating and a $285.00 price objective on the stock. Morgan Stanley lowered their price objective on L3Harris Technologies from $276.00 to $263.00 and set an “equal weight” rating on the stock in a report on Thursday, November 10th. TheStreet lowered L3Harris Technologies from a “b-” rating to a “c+” rating in a report on Tuesday. Robert W. Baird lowered their target price on L3Harris Technologies from $332.00 to $290.00 and set an “outperform” rating on the stock in a report on Monday, October 31st. Finally, Wells Fargo & Company lowered L3Harris Technologies from an “overweight” rating to an “equal weight” rating and set a $238.00 target price on the stock. in a report on Wednesday, September 28th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $269.42.

About L3Harris Technologies

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L3Harris Technologies, Inc, an aerospace and defense technology company, provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides multi-mission intelligence, surveillance, and reconnaissance (ISR) systems; and communication systems, as well as fleet management support, sensor development, modification, and periodic depot maintenance services for ISR and airborne missions.

Further Reading

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Institutional Ownership by Quarter for L3Harris Technologies (NYSE:LHX)

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