Griffin Asset Management Inc. Has $1.28 Million Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Griffin Asset Management Inc. boosted its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 5.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,681 shares of the company’s stock after buying an additional 316 shares during the quarter. Griffin Asset Management Inc.’s holdings in L3Harris Technologies were worth $1,276,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of LHX. International Assets Investment Management LLC bought a new stake in L3Harris Technologies during the fourth quarter valued at about $26,855,000. Federated Hermes Inc. boosted its holdings in L3Harris Technologies by 12.5% during the fourth quarter. Federated Hermes Inc. now owns 45,135 shares of the company’s stock valued at $9,506,000 after acquiring an additional 5,030 shares during the period. Greenleaf Trust boosted its holdings in L3Harris Technologies by 4.1% during the fourth quarter. Greenleaf Trust now owns 3,467 shares of the company’s stock valued at $730,000 after acquiring an additional 136 shares during the period. J.W. Cole Advisors Inc. boosted its holdings in L3Harris Technologies by 86.8% during the fourth quarter. J.W. Cole Advisors Inc. now owns 3,599 shares of the company’s stock valued at $758,000 after acquiring an additional 1,672 shares during the period. Finally, Lindbrook Capital LLC boosted its holdings in L3Harris Technologies by 52.7% during the fourth quarter. Lindbrook Capital LLC now owns 1,599 shares of the company’s stock valued at $337,000 after acquiring an additional 552 shares during the period. 84.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LHX has been the subject of a number of recent analyst reports. Susquehanna upped their price target on shares of L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a report on Monday, July 29th. Wells Fargo & Company cut their price target 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, July 31st. Barclays raised their price target on shares of L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Morgan Stanley lowered shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $275.00 to $257.00 in a report on Friday, August 9th. Finally, Royal Bank of Canada lowered shares of L3Harris Technologies from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $250.00 to $240.00 in a report on Wednesday, August 14th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $244.43.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 25,000 shares of the firm’s 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 transaction, the chief executive officer now directly owns 120,326 shares of the company’s stock, valued at $26,766,518.70. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related 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 value of $3,733,445.00. Following the sale, the senior vice president now directly owns 47,616 shares of the company’s stock, valued at approximately $11,189,760. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Christopher E. Kubasik sold 25,000 shares of the business’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $222.45, for a total transaction of $5,561,250.00. Following the completion of the sale, the chief executive officer now directly owns 120,326 shares in the company, valued at $26,766,518.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 84,312 shares of company stock valued at $19,085,072. 0.82% of the stock is currently owned by insiders.

L3Harris Technologies Price Performance

Shares of L3Harris Technologies stock traded up $1.31 during midday trading on Thursday, reaching $231.36. The company had a trading volume of 564,506 shares, compared to its average volume of 976,571. 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 company has a market capitalization of $43.88 billion, a price-to-earnings ratio of 37.53, a price-to-earnings-growth ratio of 1.90 and a beta of 0.72. The stock has a fifty day simple moving average of $228.24 and a 200 day simple moving average of $218.75. L3Harris Technologies, Inc. has a 1-year low of $160.25 and a 1-year high of $245.60.

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 net margin of 5.73% and a return on equity of 13.02%. The firm had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.30 billion. During the same period last year, the firm earned $2.97 earnings per share. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. As a group, equities research analysts forecast that L3Harris Technologies, Inc. will post 13.04 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The firm 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 $1.16 dividend. The ex-dividend date is Friday, September 6th. This represents a $4.64 dividend on an annualized basis and a yield of 2.01%. 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.