Novare Capital Management LLC Buys 37,798 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Novare Capital Management LLC increased its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 1,465.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,378 shares of the company’s stock after acquiring an additional 37,798 shares during the quarter. Novare Capital Management LLC’s holdings in L3Harris Technologies were worth $9,068,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Boston Partners increased its holdings in shares of L3Harris Technologies by 107.2% during the fourth quarter. Boston Partners now owns 813,558 shares of the company’s stock valued at $171,343,000 after acquiring an additional 420,943 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of L3Harris Technologies by 40.0% during the fourth quarter. Victory Capital Management Inc. now owns 106,231 shares of the company’s stock worth $22,374,000 after purchasing an additional 30,358 shares during the period. Stifel Financial Corp boosted its position in L3Harris Technologies by 3.9% in the fourth quarter. Stifel Financial Corp now owns 175,895 shares of the company’s stock valued at $37,057,000 after buying an additional 6,675 shares during the last quarter. Scout Investments Inc. increased its stake in shares of L3Harris Technologies by 59.4% in the fourth quarter. Scout Investments Inc. now owns 36,025 shares of the company’s stock worth $7,588,000 after acquiring an additional 13,423 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in L3Harris Technologies by 34.7% in the fourth quarter. Wellington Management Group LLP now owns 4,416,904 shares of the company’s stock valued at $930,288,000 after purchasing an additional 1,138,549 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Stock Down 0.6 %

NYSE LHX traded down $1.43 during mid-day trading on Tuesday, reaching $235.24. 139,882 shares of the company’s stock traded hands, compared to its average volume of 958,960. The company has a fifty day simple moving average of $229.89 and a 200-day simple moving average of $220.12. L3Harris Technologies, Inc. has a 1-year low of $160.25 and a 1-year high of $245.60. The company has a market cap of $44.63 billion, a price-to-earnings ratio of 38.42, a P/E/G ratio of 1.96 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.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, July 25th. The company reported $3.24 earnings per share for the quarter, beating the consensus estimate of $3.18 by $0.06. The firm had revenue of $5.30 billion during the quarter, compared to analyst estimates of $5.30 billion. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. L3Harris Technologies’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the company earned $2.97 earnings per share. As a group, equities research analysts expect that L3Harris Technologies, Inc. will post 13.06 EPS for the current year.

L3Harris Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be issued a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Friday, September 6th. L3Harris Technologies’s dividend payout ratio (DPR) is 75.32%.

Insider Buying and Selling

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 transaction of $3,733,445.00. Following the completion of the transaction, the senior vice president now directly owns 47,616 shares in the company, valued at $11,189,760. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, SVP Scott T. Mikuen sold 15,887 shares of the stock in a transaction dated 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 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Scott T. Mikuen sold 10,527 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $230.00, for a total value of $2,421,210.00. Following the sale, the senior vice president now directly owns 47,616 shares in the company, valued at approximately $10,951,680. The disclosure for this sale can be found here. Insiders have sold a total of 33,122 shares of company stock valued at $7,612,739 in the last quarter. Company insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on LHX. Deutsche Bank Aktiengesellschaft lowered shares of L3Harris Technologies from a “buy” rating to a “hold” rating and lifted their target price for the company from $245.00 to $257.00 in a report on Friday, July 26th. Royal Bank of Canada cut 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 report on Wednesday, August 14th. Morgan Stanley lowered L3Harris Technologies from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $275.00 to $257.00 in a report on Friday, August 9th. Barclays raised their price target on L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Finally, Wells Fargo & Company lowered their price objective on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $247.08.

L3Harris Technologies Company 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.