Deseret Mutual Benefit Administrators Has $241,000 Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Deseret Mutual Benefit Administrators raised its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 7.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,071 shares of the company’s stock after purchasing an additional 76 shares during the period. Deseret Mutual Benefit Administrators’ holdings in L3Harris Technologies were worth $241,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Bfsg LLC bought a new stake in shares of L3Harris Technologies in the first quarter valued at about $25,000. Transcendent Capital Group LLC bought a new stake in shares of L3Harris Technologies during the 4th quarter valued at $28,000. EntryPoint Capital LLC grew its holdings in shares of L3Harris Technologies by 70.4% during the 1st quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock worth $36,000 after purchasing an additional 69 shares in the last quarter. Versant Capital Management Inc increased its position in shares of L3Harris Technologies by 77.7% in the second quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock worth $41,000 after purchasing an additional 80 shares during the period. Finally, Family Firm Inc. acquired a new position in L3Harris Technologies in the second quarter valued at about $45,000. 84.76% of the stock is owned by institutional investors.

Insider Activity

In other L3Harris Technologies news, SVP Scott T. Mikuen sold 15,887 shares of the business’s stock in a transaction 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 completion of the sale, the senior vice president now owns 47,616 shares in the company, valued at approximately $11,189,760. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Sean J. Stackley sold 3,354 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were 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 owns 14,186 shares in the company, valued at approximately $3,074,531.78. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Scott T. Mikuen sold 15,887 shares of L3Harris Technologies 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 sale, the senior vice president now directly owns 47,616 shares in the company, valued at approximately $11,189,760. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,122 shares of company stock worth $7,612,739. Company insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

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

L3Harris Technologies Trading Down 0.6 %

NYSE LHX traded down $1.43 during mid-day trading on Thursday, reaching $235.07. 18,442 shares of the stock were exchanged, compared to its average volume of 955,648. The stock has a market cap of $44.59 billion, a P/E ratio of 38.39, a P/E/G ratio of 1.96 and a beta of 0.73. 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, Inc. has a one year low of $160.25 and a one year high of $245.60. The stock has a 50 day simple moving average of $230.36 and a 200-day simple moving average of $220.40.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data 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. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The company had revenue of $5.30 billion for the quarter, compared to the consensus estimate of $5.30 billion. During the same period in the previous year, the business earned $2.97 EPS. The firm’s revenue was up 12.9% compared to the same quarter last year. On average, analysts anticipate that L3Harris Technologies, Inc. will post 13.06 EPS for the current year.

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be paid a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 1.97%. The ex-dividend date is Friday, September 6th. L3Harris Technologies’s dividend payout ratio (DPR) is currently 75.32%.

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.