903 Shares in L3Harris Technologies, Inc. (NYSE:LHX) Bought by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC bought a new position in L3Harris Technologies, Inc. (NYSE:LHX) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 903 shares of the company’s stock, valued at approximately $203,000.

A number of other hedge funds have also modified their holdings of LHX. Bfsg LLC acquired a new position in shares of L3Harris Technologies in the 1st quarter worth $25,000. Transcendent Capital Group LLC acquired a new position in shares of L3Harris Technologies in the 4th quarter worth $28,000. EntryPoint Capital LLC grew its holdings in shares of L3Harris Technologies by 70.4% in the 1st quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock worth $36,000 after acquiring an additional 69 shares during the last quarter. Versant Capital Management Inc grew its holdings in shares of L3Harris Technologies by 77.7% in the 2nd quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock worth $41,000 after acquiring an additional 80 shares during the last quarter. Finally, Sachetta LLC acquired a new position in shares of L3Harris Technologies in the 4th quarter worth $49,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at L3Harris Technologies

In other news, VP Sean J. Stackley sold 3,354 shares of L3Harris Technologies stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $218.00, for a total value of $731,172.00. Following the transaction, the vice president now directly owns 17,540 shares in the company, valued at $3,823,720. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Sean J. Stackley sold 3,354 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $218.00, for a total transaction of $731,172.00. Following the transaction, the vice president now directly owns 17,540 shares in the company, valued at $3,823,720. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Scott T. Mikuen sold 10,527 shares of the business’s stock in a transaction dated 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 transaction, 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. Over the last ninety days, insiders have sold 109,312 shares of company stock worth $24,712,822. Company insiders own 0.82% of the company’s stock.

L3Harris Technologies Stock Down 1.0 %

Shares of NYSE:LHX traded down $2.29 on Friday, reaching $228.33. The company had a trading volume of 505,853 shares, compared to its average volume of 999,292. The company has a quick ratio of 0.74, a current ratio of 0.90 and a debt-to-equity ratio of 0.56. The stock has a 50-day moving average price of $227.32 and a 200 day moving average price of $217.61. The stock has a market capitalization of $43.31 billion, a P/E ratio of 37.07, a P/E/G ratio of 1.90 and a beta of 0.72. L3Harris Technologies, Inc. has a twelve month low of $160.25 and a twelve month high of $245.60.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, July 25th. The company reported $3.24 EPS for the quarter, topping analysts’ consensus estimates of $3.18 by $0.06. The business had revenue of $5.30 billion for 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%. The firm’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.97 earnings per share. On average, equities analysts expect that L3Harris Technologies, Inc. will post 13.04 EPS for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be paid a $1.16 dividend. The ex-dividend date is Friday, September 6th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.03%. L3Harris Technologies’s payout ratio is presently 75.32%.

Wall Street Analysts Forecast Growth

LHX has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lifted their price target on L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Barclays lifted their price target on L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 price target on shares of L3Harris Technologies in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft downgraded L3Harris Technologies from a “buy” rating to a “hold” rating and lifted their price target for the company from $245.00 to $257.00 in a report on Friday, July 26th. Finally, Wells Fargo & Company lowered their price target 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 ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $239.73.

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.