L3Harris Technologies, Inc. (NYSE:LHX) Position Boosted by Diamond Hill Capital Management Inc.

Diamond Hill Capital Management Inc. lifted its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 2.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,489,129 shares of the company’s stock after buying an additional 31,686 shares during the quarter. Diamond Hill Capital Management Inc.’s holdings in L3Harris Technologies were worth $334,429,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Schulhoff & Co. Inc. lifted its position in shares of L3Harris Technologies by 8.1% during the second quarter. Schulhoff & Co. Inc. now owns 1,770 shares of the company’s stock worth $398,000 after purchasing an additional 133 shares during the last quarter. J.W. Cole Advisors Inc. raised its stake in L3Harris Technologies by 6.9% during the second quarter. J.W. Cole Advisors Inc. now owns 4,092 shares of the company’s stock worth $919,000 after acquiring an additional 263 shares during the period. Prosperity Consulting Group LLC acquired a new stake in L3Harris Technologies during the second quarter worth about $342,000. Envestnet Asset Management Inc. raised its stake in L3Harris Technologies by 236.8% during the second quarter. Envestnet Asset Management Inc. now owns 989,340 shares of the company’s stock worth $222,186,000 after acquiring an additional 695,582 shares during the period. Finally, Oppenheimer Asset Management Inc. raised its stake in L3Harris Technologies by 6.0% during the second quarter. Oppenheimer Asset Management Inc. now owns 4,705 shares of the company’s stock worth $1,057,000 after acquiring an additional 268 shares during the period. Institutional investors own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

LHX has been the topic of several research reports. Susquehanna increased their price objective on shares of L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research note on Monday, July 29th. 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 research note on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft lowered shares of L3Harris Technologies from a “buy” rating to a “hold” rating and increased their price objective for the stock from $245.00 to $257.00 in a research note on Friday, July 26th. Barclays raised their price target on shares of L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Finally, Morgan Stanley lowered shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $275.00 to $257.00 in a research note on Friday, August 9th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $247.08.

Insider Buying and Selling

In related news, VP Sean J. Stackley sold 3,354 shares of the firm’s stock in a transaction that occurred 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 transaction, the vice president now owns 14,186 shares of the company’s stock, valued at approximately $3,074,531.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $236.68, for a total value of $707,199.84. Following the completion of the transaction, the insider now owns 16,316 shares of the company’s stock, valued at approximately $3,861,670.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Sean J. Stackley sold 3,354 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $216.73, for a total transaction of $726,912.42. Following the completion of the transaction, 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. In the last 90 days, insiders sold 32,756 shares of company stock valued at $7,588,767. Company insiders own 0.82% of the company’s stock.

L3Harris Technologies Trading Up 0.7 %

Shares of NYSE:LHX opened at $229.77 on Friday. The stock has a market capitalization of $43.58 billion, a price-to-earnings ratio of 37.30, a PEG ratio of 1.95 and a beta of 0.73. L3Harris Technologies, Inc. has a 1-year low of $160.25 and a 1-year high of $245.60. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.74 and a current ratio of 0.90. The company has a 50 day moving average price of $231.07 and a 200 day moving average price of $221.19.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, July 25th. The company reported $3.24 earnings per share for the quarter, topping analysts’ consensus estimates of $3.18 by $0.06. The firm 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% compared to the same quarter last year. During the same period last year, the firm posted $2.97 earnings per share. On average, research analysts anticipate that L3Harris Technologies, Inc. will post 13.06 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be issued a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend is Friday, September 6th. L3Harris Technologies’s payout ratio is 75.32%.

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.