L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC lessened its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 1.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 104,516 shares of the company’s stock after selling 1,735 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in L3Harris Technologies were worth $23,472,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in LHX. RFG Advisory LLC boosted its holdings in L3Harris Technologies by 3.1% in the 2nd quarter. RFG Advisory LLC now owns 1,416 shares of the company’s stock valued at $318,000 after purchasing an additional 43 shares during the period. Oak Harbor Wealth Partners LLC boosted its holdings in L3Harris Technologies by 1.7% in the 1st quarter. Oak Harbor Wealth Partners LLC now owns 2,985 shares of the company’s stock valued at $636,000 after purchasing an additional 49 shares during the period. Whitener Capital Management Inc. boosted its holdings in L3Harris Technologies by 3.0% in the 2nd quarter. Whitener Capital Management Inc. now owns 1,715 shares of the company’s stock valued at $385,000 after purchasing an additional 50 shares during the period. JFS Wealth Advisors LLC boosted its holdings in L3Harris Technologies by 12.2% in the 4th quarter. JFS Wealth Advisors LLC now owns 488 shares of the company’s stock valued at $103,000 after purchasing an additional 53 shares during the period. Finally, Newman Dignan & Sheerar Inc. boosted its holdings in L3Harris Technologies by 0.6% in the 2nd quarter. Newman Dignan & Sheerar Inc. now owns 8,888 shares of the company’s stock valued at $1,996,000 after purchasing an additional 55 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on LHX shares. JPMorgan Chase & Co. increased their price target on shares of L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating and increased their price target for the company from $245.00 to $257.00 in a report on Friday, July 26th. Morgan Stanley downgraded shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $275.00 to $257.00 in a report on Friday, August 9th. Susquehanna raised 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, Barclays raised their price objective on shares of L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Six 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, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $244.43.

Insider Buying and Selling at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 26,190 shares of L3Harris Technologies stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $225.70, for a total transaction of $5,911,083.00. Following the transaction, the chief executive officer now owns 120,326 shares of the company’s stock, valued at approximately $27,157,578.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Christopher E. Kubasik sold 25,000 shares of L3Harris Technologies stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $222.45, for a total value of $5,561,250.00. Following the sale, the chief executive officer now directly owns 120,326 shares in the company, valued at $26,766,518.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher E. Kubasik sold 26,190 shares of L3Harris Technologies stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $225.70, for a total transaction of $5,911,083.00. Following the completion of the sale, the chief executive officer now owns 120,326 shares in the company, valued at $27,157,578.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 109,312 shares of company stock worth $24,712,822. 0.82% of the stock is currently owned by corporate insiders.

L3Harris Technologies Price Performance

Shares of L3Harris Technologies stock traded down $0.84 during mid-day trading on Tuesday, reaching $229.64. 391,255 shares of the stock were exchanged, compared to its average volume of 982,920. The company has a market cap of $43.56 billion, a price-to-earnings ratio of 37.28, a price-to-earnings-growth ratio of 1.90 and a beta of 0.72. 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 firm has a 50-day simple moving average of $227.83 and a 200 day simple moving average of $218.52. L3Harris Technologies, Inc. has a fifty-two week low of $160.25 and a fifty-two week high of $245.60.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, July 25th. The company reported $3.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.18 by $0.06. The business had revenue of $5.30 billion during the quarter, compared to analysts’ expectations of $5.30 billion. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The firm’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter last year, the company posted $2.97 EPS. On average, sell-side analysts predict that L3Harris Technologies, Inc. will post 13.04 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

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