1ST Source Bank Sells 198 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

1ST Source Bank decreased its position in L3Harris Technologies, Inc. (NYSE:LHX) by 5.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,793 shares of the company’s stock after selling 198 shares during the quarter. 1ST Source Bank’s holdings in L3Harris Technologies were worth $852,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Meeder Asset Management Inc. raised its holdings in L3Harris Technologies by 260.6% in the 2nd quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock worth $27,000 after acquiring an additional 86 shares during the period. Transcendent Capital Group LLC acquired a new stake in shares of L3Harris Technologies in the fourth quarter valued at about $28,000. EntryPoint Capital LLC increased its stake in shares of L3Harris Technologies by 70.4% in the first quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock worth $36,000 after purchasing an additional 69 shares during the period. Versant Capital Management Inc lifted its position in shares of L3Harris Technologies by 77.7% during the 2nd 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 last quarter. Finally, Family Firm Inc. bought a new stake in L3Harris Technologies during the 2nd quarter valued at approximately $45,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at L3Harris Technologies

In other news, SVP Scott T. Mikuen sold 15,887 shares of the business’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 value of $3,733,445.00. Following the transaction, the senior vice president now directly owns 47,616 shares of the company’s stock, valued at approximately $11,189,760. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other L3Harris Technologies news, SVP Scott T. Mikuen sold 15,887 shares of L3Harris Technologies stock in a transaction 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 in the company, valued at approximately $11,189,760. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Ross Niebergall sold 2,988 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $236.68, for a total value of $707,199.84. Following the sale, the insider now owns 16,316 shares in the company, valued at approximately $3,861,670.88. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,756 shares of company stock valued at $7,588,767. Corporate insiders own 0.82% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on LHX shares. Deutsche Bank Aktiengesellschaft downgraded L3Harris Technologies from a “buy” rating to a “hold” rating and lifted their price target for the stock from $245.00 to $257.00 in a research report on Friday, July 26th. Barclays boosted their target price on shares of L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Morgan Stanley downgraded shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $275.00 to $257.00 in a report on Friday, August 9th. Susquehanna boosted their price objective on shares of L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a report on Monday, July 29th. Finally, Royal Bank of Canada cut shares of L3Harris Technologies from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $250.00 to $240.00 in a research note on Wednesday, August 14th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $247.08.

L3Harris Technologies Trading Up 0.7 %

Shares of LHX opened at $229.77 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.74 and a debt-to-equity ratio of 0.56. The stock has a market cap of $43.58 billion, a PE ratio of 37.30, a PEG ratio of 1.95 and a beta of 0.73. L3Harris Technologies, Inc. has a 1 year low of $160.25 and a 1 year high of $245.60. The stock has a 50 day simple moving average of $231.07 and a 200-day simple moving average of $221.19.

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, topping the consensus estimate of $3.18 by $0.06. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The firm had revenue of $5.30 billion during the quarter, compared to analyst estimates of $5.30 billion. During the same period in the prior year, the company posted $2.97 earnings per share. The business’s revenue for the quarter was up 12.9% compared to the same quarter last year. On average, sell-side analysts predict that L3Harris Technologies, Inc. will post 13.06 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

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