Empirical Finance LLC Increases Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Empirical Finance LLC boosted its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 11.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,594 shares of the company’s stock after acquiring an additional 276 shares during the period. Empirical Finance LLC’s holdings in L3Harris Technologies were worth $561,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Capital International Investors lifted its position in L3Harris Technologies by 9.1% in the first quarter. Capital International Investors now owns 8,609,701 shares of the company’s stock valued at $1,745,029,000 after acquiring an additional 716,260 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in L3Harris Technologies by 3.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,603,794 shares of the company’s stock valued at $730,417,000 after acquiring an additional 117,923 shares during the last quarter. Bank of New York Mellon Corp lifted its position in L3Harris Technologies by 1.8% in the first quarter. Bank of New York Mellon Corp now owns 2,508,603 shares of the company’s stock valued at $508,443,000 after acquiring an additional 43,764 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in L3Harris Technologies by 9.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,117,203 shares of the company’s stock valued at $429,115,000 after acquiring an additional 175,050 shares during the last quarter. Finally, Pendal Group Limited raised its holdings in shares of L3Harris Technologies by 40.9% in the first quarter. Pendal Group Limited now owns 1,535,398 shares of the company’s stock valued at $311,194,000 after buying an additional 445,536 shares during the last quarter. 80.54% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts have recently commented on LHX shares. Wells Fargo & Company upped their target price on shares of L3Harris Technologies from $225.00 to $240.00 and gave the company an “equal weight” rating in a report on Wednesday, August 4th. Credit Suisse Group upped their target price on shares of L3Harris Technologies from $243.00 to $254.00 and gave the company an “outperform” rating in a report on Wednesday, August 4th. Morgan Stanley lowered shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and set a $238.00 price target on the stock. in a research note on Wednesday, August 11th. Raymond James upped their target price on shares of L3Harris Technologies from $230.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 4th. Finally, Wolfe Research initiated coverage on shares of L3Harris Technologies in a research report on Wednesday, September 8th. They set a “market perform” rating on the stock. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $233.77.

In other news, insider William M. Brown sold 85,162 shares of the firm’s stock in a transaction on Friday, September 10th. The shares were sold at an average price of $231.79, for a total value of $19,739,699.98. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Scott T. Mikuen sold 28,321 shares of the firm’s stock in a transaction on Tuesday, July 13th. The shares were sold at an average price of $225.25, for a total transaction of $6,379,305.25. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 370,609 shares of company stock worth $85,440,562. 1.40% of the stock is currently owned by insiders.

Shares of LHX opened at $226.98 on Wednesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.50 and a current ratio of 1.70. The company has a market capitalization of $45.61 billion, a price-to-earnings ratio of 31.75, a PEG ratio of 2.06 and a beta of 0.89. The company’s 50 day simple moving average is $229.15 and its 200 day simple moving average is $216.52. L3Harris Technologies, Inc. has a 1 year low of $158.09 and a 1 year high of $235.10.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Tuesday, August 3rd. The company reported $3.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.18 by $0.08. The company had revenue of $4.67 billion for the quarter, compared to the consensus estimate of $4.62 billion. L3Harris Technologies had a net margin of 8.17% and a return on equity of 12.60%. L3Harris Technologies’s revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.83 earnings per share. Equities analysts expect that L3Harris Technologies, Inc. will post 13.03 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 17th. Shareholders of record on Friday, September 3rd will be paid a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date is Thursday, September 2nd. L3Harris Technologies’s dividend payout ratio is currently 35.17%.

L3Harris Technologies Profile

L3Harris Technologies, Inc engages in the provision of defense and commercial technologies across air, land, sea, space and cyber domains. It operates through the following segments: Integrated Mission Systems; Space and Airborne Systems; Communication Systems; and Aviation Systems. The Integrated Mission Systems segment consists of multi-mission ISR and communication systems; integrated electrical and electronic systems for maritime platforms; and advanced electro-optical and infrared solutions.

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Institutional Ownership by Quarter for L3Harris Technologies (NYSE:LHX)

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