Capital Group Private Client Services Inc. Has $1.97 Million Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Capital Group Private Client Services Inc. lifted its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 7.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,261 shares of the company’s stock after acquiring an additional 651 shares during the period. Capital Group Private Client Services Inc.’s holdings in L3Harris Technologies were worth $1,974,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in 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 during the last quarter. Capital World Investors boosted its holdings in L3Harris Technologies by 26.0% during 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 boosted its holdings in L3Harris Technologies by 0.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,585,362 shares of the company’s stock worth $2,018,870,000 after purchasing an additional 40,448 shares during the last quarter. Wells Fargo & Company MN grew its position in L3Harris Technologies by 2.0% in the 4th quarter. Wells Fargo & Company MN now owns 5,147,546 shares of the company’s stock worth $1,084,176,000 after purchasing an additional 101,708 shares in the last quarter. Finally, Wellington Management Group LLP increased 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 valued at $930,288,000 after buying an additional 1,138,549 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

Shares of LHX stock traded down $13.86 during trading hours on Friday, hitting $229.41. 2,215,825 shares of the company’s stock were exchanged, compared to its average volume of 995,252. L3Harris Technologies, Inc. has a 12-month low of $160.25 and a 12-month high of $245.60. The company has a market capitalization of $43.51 billion, a PE ratio of 37.24, a PEG ratio of 1.97 and a beta of 0.72. The business’s 50 day simple moving average is $226.21 and its 200-day simple moving average is $215.96. The company has a current ratio of 0.98, a quick ratio of 0.80 and a debt-to-equity ratio of 0.59.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, July 25th. The company reported $3.24 earnings per share for the quarter, beating analysts’ consensus estimates of $3.18 by $0.06. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The company had revenue of $5.30 billion during the quarter, compared to analyst estimates of $5.30 billion. During the same quarter in the previous year, the company posted $2.97 EPS. L3Harris Technologies’s revenue for the quarter was up 12.9% on a year-over-year basis. On average, equities research analysts anticipate that L3Harris Technologies, Inc. will post 12.99 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend is Friday, September 6th. L3Harris Technologies’s payout ratio is 75.32%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Barclays upped their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. Deutsche Bank Aktiengesellschaft cut L3Harris Technologies from a “buy” rating to a “hold” rating and upped their price target for the company from $245.00 to $257.00 in a research report on Friday. Royal Bank of Canada lifted their price objective on L3Harris Technologies from $245.00 to $250.00 and gave the stock an “outperform” rating in a report on Monday, April 29th. Alembic Global Advisors upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price objective on the stock in a research note on Monday, April 22nd. Finally, Wells Fargo & Company increased their target price on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 7th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $232.93.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, SVP Scott T. Mikuen sold 15,887 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $235.00, for a total transaction of $3,733,445.00. Following the completion of 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 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 stock was sold at an average price of $235.00, for a total value of $3,733,445.00. Following the completion of the transaction, the senior vice president now owns 47,616 shares of the company’s stock, valued at approximately $11,189,760. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Scott T. Mikuen sold 10,527 shares of L3Harris Technologies stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $230.00, for a total value of $2,421,210.00. Following the sale, the senior vice president now owns 47,616 shares in the company, valued at $10,951,680. The disclosure for this sale can be found here. Insiders sold 109,312 shares of company stock valued at $24,712,822 in the last 90 days. Insiders own 0.82% of the company’s stock.

About L3Harris Technologies

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.