Peterson Wealth Services Lowers Stock Position in L3Harris Technologies Inc $LHX

Peterson Wealth Services lessened its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 89.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 183 shares of the company’s stock after selling 1,517 shares during the quarter. Peterson Wealth Services’ holdings in L3Harris Technologies were worth $46,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the stock. Gold Investment Management Ltd. lifted its holdings in L3Harris Technologies by 108.4% during the second quarter. Gold Investment Management Ltd. now owns 1,738 shares of the company’s stock valued at $437,000 after purchasing an additional 904 shares in the last quarter. BankPlus Trust Department increased its position in L3Harris Technologies by 6.9% during the second quarter. BankPlus Trust Department now owns 5,854 shares of the company’s stock worth $1,468,000 after purchasing an additional 379 shares during the last quarter. Janney Montgomery Scott LLC increased its position in shares of L3Harris Technologies by 20.6% during the second quarter. Janney Montgomery Scott LLC now owns 193,381 shares of the company’s stock valued at $48,508,000 after acquiring an additional 33,019 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its stake in shares of L3Harris Technologies by 5.1% in the first quarter. Oppenheimer Asset Management Inc. now owns 4,425 shares of the company’s stock valued at $926,000 after purchasing an additional 216 shares during the period. Finally, US Bancorp DE boosted its stake in shares of L3Harris Technologies by 1.6% in the second quarter. US Bancorp DE now owns 344,112 shares of the company’s stock valued at $86,317,000 after purchasing an additional 5,526 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analyst Ratings Changes

LHX has been the topic of a number of recent research reports. Citigroup lifted their target price on shares of L3Harris Technologies from $300.00 to $323.00 and gave the company a “buy” rating in a report on Friday, July 25th. Royal Bank Of Canada boosted their price objective on shares of L3Harris Technologies from $265.00 to $280.00 and gave the stock a “sector perform” rating in a research report on Friday, July 25th. UBS Group increased their price objective on shares of L3Harris Technologies from $262.00 to $280.00 and gave the stock a “neutral” rating in a report on Friday, July 25th. Wall Street Zen raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Friday, August 22nd. Finally, Morgan Stanley lifted their price objective on shares of L3Harris Technologies from $250.00 to $350.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 15th. Thirteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $287.63.

L3Harris Technologies Trading Down 0.0%

Shares of LHX opened at $293.22 on Friday. L3Harris Technologies Inc has a 12-month low of $193.09 and a 12-month high of $308.12. The stock’s fifty day simple moving average is $285.35 and its 200-day simple moving average is $258.41. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $54.86 billion, a PE ratio of 32.76, a price-to-earnings-growth ratio of 2.14 and a beta of 0.76.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, July 24th. The company reported $2.78 EPS for the quarter, topping analysts’ consensus estimates of $2.48 by $0.30. The company had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.31 billion. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.L3Harris Technologies’s revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the firm posted $3.24 earnings per share. As a group, research analysts predict that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Monday, November 17th will be given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Monday, November 17th. L3Harris Technologies’s dividend payout ratio is presently 53.63%.

Insider Buying and Selling at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 83,000 shares of the company’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $279.90, for a total transaction of $23,231,700.00. Following the completion of the sale, the chief executive officer directly owned 145,578 shares in the company, valued at approximately $40,747,282.20. This represents a 36.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders sold 195,138 shares of company stock worth $53,571,774. Corporate insiders own 0.72% 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.