Cypress Wealth Services LLC Takes Position in L3Harris Technologies, Inc. (NYSE:LHX)

Cypress Wealth Services LLC purchased 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 (SEC). The institutional investor purchased 896 shares of the company’s stock, valued at approximately $201,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Capital World Investors lifted its position in shares of L3Harris Technologies by 26.0% during the fourth quarter. Capital World Investors now owns 16,056,272 shares of the company’s stock valued at $3,381,784,000 after buying an additional 3,308,506 shares during the last quarter. Vanguard Group Inc. boosted its stake in L3Harris Technologies by 15.4% during the 4th quarter. Vanguard Group Inc. now owns 20,186,512 shares of the company’s stock worth $4,251,683,000 after purchasing an additional 2,692,771 shares during the last quarter. Mizuho Markets Americas LLC boosted its stake in L3Harris Technologies by 990.3% during the 4th quarter. Mizuho Markets Americas LLC now owns 2,204,675 shares of the company’s stock worth $464,349,000 after purchasing an additional 2,002,475 shares during the last quarter. Norges Bank acquired a new stake in L3Harris Technologies during the 4th quarter worth $325,147,000. Finally, Wellington Management Group LLP raised its holdings in shares of L3Harris Technologies by 34.7% during the 4th quarter. Wellington Management Group LLP now owns 4,416,904 shares of the company’s stock worth $930,288,000 after acquiring an additional 1,138,549 shares during the period. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Stock Down 1.0 %

LHX stock traded down $2.29 during mid-day trading on Friday, hitting $228.33. The stock had a trading volume of 505,853 shares, compared to its average volume of 999,292. 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 1-year low of $160.25 and a 1-year high of $245.60. The company has a fifty day moving average of $227.32 and a 200 day moving average of $217.61. The stock has a market capitalization of $43.31 billion, a price-to-earnings ratio of 37.07, a PEG ratio of 1.90 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, July 25th. The company reported $3.24 EPS for the quarter, beating analysts’ consensus estimates of $3.18 by $0.06. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The business had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.30 billion. During the same quarter in the prior year, the firm posted $2.97 EPS. The firm’s revenue for the quarter was up 12.9% on a year-over-year basis. On average, equities analysts expect that L3Harris Technologies, Inc. will post 13.04 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be issued a $1.16 dividend. The ex-dividend date of this dividend 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%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Susquehanna boosted 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. Wells Fargo & Company lowered their price target on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Morgan Stanley lowered shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $275.00 to $257.00 in a research report on Friday. Alembic Global Advisors raised L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price target for the company in a report on Monday, April 22nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 price target on shares of L3Harris Technologies in a report on Monday, July 29th. 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, L3Harris Technologies has an average rating of “Moderate Buy” and a consensus target price of $239.73.

Insider Transactions at L3Harris Technologies

In related news, VP Sean J. Stackley sold 3,354 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $216.73, for a total transaction of $726,912.42. Following the completion of the sale, the vice president now directly owns 14,186 shares of the company’s stock, valued at approximately $3,074,531.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other L3Harris Technologies news, SVP Scott T. Mikuen sold 15,887 shares of L3Harris Technologies stock in a transaction dated 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 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 filing with the SEC, which is accessible through this hyperlink. Also, VP Sean J. Stackley sold 3,354 shares of L3Harris Technologies stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $216.73, for a total value of $726,912.42. Following the transaction, the vice president now owns 14,186 shares in the company, valued at $3,074,531.78. The disclosure for this sale can be found here. In the last ninety days, insiders sold 109,312 shares of company stock valued at $24,712,822. Corporate insiders own 0.82% of the company’s stock.

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.