Tidal Investments LLC Sells 402 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Tidal Investments LLC lessened its position in L3Harris Technologies, Inc. (NYSE:LHX) by 3.4% in the 1st quarter, Holdings Channel.com reports. The fund owned 11,338 shares of the company’s stock after selling 402 shares during the period. Tidal Investments LLC’s holdings in L3Harris Technologies were worth $2,416,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in LHX. B. Riley Wealth Advisors Inc. lifted its holdings in L3Harris Technologies by 2.8% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 7,074 shares of the company’s stock valued at $1,507,000 after buying an additional 193 shares in the last quarter. Silvercrest Asset Management Group LLC lifted its holdings in L3Harris Technologies by 1.8% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 49,319 shares of the company’s stock valued at $10,510,000 after buying an additional 865 shares in the last quarter. Econ Financial Services Corp bought a new stake in L3Harris Technologies during the 1st quarter valued at about $496,000. Ascent Group LLC bought a new stake in L3Harris Technologies during the 1st quarter valued at about $2,078,000. Finally, Morse Asset Management Inc increased its position in L3Harris Technologies by 96.7% during the 1st quarter. Morse Asset Management Inc now owns 5,705 shares of the company’s stock valued at $1,216,000 after purchasing an additional 2,805 shares during the period. Institutional investors own 84.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Susquehanna raised their target price on shares of L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research report on Monday. Royal Bank of Canada reissued an “outperform” rating and set a $250.00 target price on shares of L3Harris Technologies in a research report on Monday. Deutsche Bank Aktiengesellschaft downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating and raised their target price for the company from $245.00 to $257.00 in a research report on Friday, July 26th. Barclays lifted their price objective on shares of L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Wells Fargo & Company lowered their target price on shares of L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a research note on Wednesday. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $236.60.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 25,000 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $225.11, for a total value of $5,627,750.00. Following the transaction, the chief executive officer now directly owns 120,326 shares in the company, valued at $27,086,585.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Christopher E. Kubasik sold 25,000 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $225.11, for a total transaction of $5,627,750.00. Following the completion of the sale, the chief executive officer now directly owns 120,326 shares of the company’s stock, valued at $27,086,585.86. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Sean J. Stackley sold 3,354 shares of the firm’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $216.73, for a total value 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 disclosure for this sale can be found here. Insiders have sold 109,312 shares of company stock worth $24,712,822 over the last three months. Insiders own 0.82% of the company’s stock.

L3Harris Technologies Trading Down 0.5 %

NYSE LHX traded down $1.16 during trading hours on Thursday, reaching $225.73. The company had a trading volume of 223,446 shares, compared to its average volume of 1,000,428. The stock has a 50-day moving average of $226.31 and a 200 day moving average of $216.51. L3Harris Technologies, Inc. has a 1-year low of $160.25 and a 1-year high of $245.60. 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 capitalization of $42.82 billion, a P/E ratio of 36.41, a price-to-earnings-growth ratio of 1.89 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results 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 net margin of 5.73% and a return on equity of 13.02%. The business had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.30 billion. During the same quarter in the prior year, the company earned $2.97 earnings per share. The business’s quarterly revenue was up 12.9% on a year-over-year basis. As a group, research analysts anticipate that L3Harris Technologies, Inc. will post 13.03 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors 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 dividend on an annualized basis and a dividend yield of 2.06%. L3Harris Technologies’s 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.