F M Investments LLC Invests $1.98 Million in L3Harris Technologies, Inc. (NYSE:LHX)

F M Investments LLC acquired a new stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 8,829 shares of the company’s stock, valued at approximately $1,983,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Bfsg LLC bought a new position in shares of L3Harris Technologies in the 1st quarter worth about $25,000. Transcendent Capital Group LLC bought a new stake in shares of L3Harris Technologies in the 4th quarter valued at $28,000. EntryPoint Capital LLC lifted its position in shares of L3Harris Technologies by 70.4% during the 1st quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock valued at $36,000 after acquiring an additional 69 shares during the period. Versant Capital Management Inc boosted 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 in the last quarter. Finally, Family Firm Inc. acquired a new stake in shares of L3Harris Technologies in the 2nd quarter valued at about $45,000. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

NYSE:LHX traded up $2.99 during trading hours on Friday, hitting $236.67. 660,710 shares of the company’s stock traded hands, compared to its average volume of 963,611. The firm has a market cap of $44.89 billion, a P/E ratio of 38.42, a P/E/G ratio of 1.90 and a beta of 0.72. The company has a quick ratio of 0.74, a current ratio of 0.90 and a debt-to-equity ratio of 0.56. The business’s fifty day simple moving average is $229.44 and its two-hundred day simple moving average is $219.62. L3Harris Technologies, Inc. has a 52 week low of $160.25 and a 52 week high of $245.60.

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

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be issued a $1.16 dividend. The ex-dividend date is Friday, September 6th. This represents a $4.64 annualized dividend and a dividend yield of 1.96%. L3Harris Technologies’s dividend payout ratio is currently 75.32%.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 26,190 shares of L3Harris Technologies stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $225.70, for a total transaction of $5,911,083.00. Following the sale, the chief executive officer now directly 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 SEC, which is accessible through this hyperlink. In other L3Harris Technologies news, SVP Scott T. Mikuen sold 15,887 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $235.00, for a total transaction of $3,733,445.00. Following the transaction, the senior vice president now owns 47,616 shares in the company, valued at approximately $11,189,760. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Christopher E. Kubasik sold 26,190 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $225.70, for a total value of $5,911,083.00. Following the completion of the transaction, 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. Insiders have sold 59,312 shares of company stock valued at $13,523,822 in the last ninety days. Company insiders own 0.82% of the company’s stock.

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.