Gries Financial LLC Sells 129 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Gries Financial LLC decreased its position in L3Harris Technologies, Inc. (NYSE:LHX) by 2.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,545 shares of the company’s stock after selling 129 shares during the quarter. Gries Financial LLC’s holdings in L3Harris Technologies were worth $1,021,000 at the end of the most recent reporting period.

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

L3Harris Technologies Trading Up 0.5 %

Shares of LHX stock opened at $236.47 on Thursday. The stock has a market capitalization of $44.85 billion, a price-to-earnings ratio of 38.39, a PEG ratio of 1.96 and a beta of 0.73. The company’s fifty day simple moving average is $230.36 and its two-hundred day simple moving average is $220.40. L3Harris Technologies, Inc. has a 1 year low of $160.25 and a 1 year high of $245.60. 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 (NYSE:LHX) last released 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 analyst estimates of $5.30 billion. During the same period in the previous year, the company posted $2.97 EPS. The firm’s revenue for the quarter was up 12.9% compared to the same quarter last year. As a group, analysts anticipate that L3Harris Technologies, Inc. will post 13.06 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be given 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 1.96%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 75.32%.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, SVP Scott T. Mikuen sold 15,887 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $235.00, for a total value of $3,733,445.00. Following the sale, the senior vice president now directly owns 47,616 shares in the company, valued at approximately $11,189,760. The transaction was disclosed in a filing 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 business’s stock in a transaction dated 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 transaction, the vice president now owns 14,186 shares of the company’s stock, valued at $3,074,531.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 in the company, valued at $11,189,760. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,122 shares of company stock valued at $7,612,739. Corporate insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on LHX shares. Morgan Stanley downgraded L3Harris Technologies from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $275.00 to $257.00 in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating and raised their price objective for the stock from $245.00 to $257.00 in a report on Friday, July 26th. Royal Bank of Canada lowered 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. Barclays increased their target price on shares of L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Finally, Wells Fargo & Company lowered their price target on shares of L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, L3Harris Technologies presently has an average rating of “Moderate Buy” and an average price target of $247.08.

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.