Pacer Advisors Inc. Sells 6,851 Shares of L3Harris Technologies Inc (NYSE:LHX)

Pacer Advisors Inc. trimmed its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 25.4% in the first quarter, according to its most recent filing with the SEC. The firm owned 20,174 shares of the company’s stock after selling 6,851 shares during the period. Pacer Advisors Inc.’s holdings in L3Harris Technologies were worth $4,223,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Meeder Asset Management Inc. lifted its holdings in shares of L3Harris Technologies by 234.3% during the 4th quarter. Meeder Asset Management Inc. now owns 117 shares of the company’s stock worth $25,000 after acquiring an additional 82 shares during the period. Beacon Capital Management LLC lifted its holdings in shares of L3Harris Technologies by 79.5% during the 1st quarter. Beacon Capital Management LLC now owns 131 shares of the company’s stock worth $27,000 after acquiring an additional 58 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of L3Harris Technologies by 336.4% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company’s stock worth $30,000 after acquiring an additional 111 shares during the period. Park Square Financial Group LLC bought a new position in shares of L3Harris Technologies during the 4th quarter worth about $37,000. Finally, Cornerstone Planning Group LLC lifted its holdings in shares of L3Harris Technologies by 323.3% during the 1st quarter. Cornerstone Planning Group LLC now owns 182 shares of the company’s stock worth $39,000 after acquiring an additional 139 shares during the period. 84.76% of the stock is owned by institutional investors.

Insider Activity at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 33,061 shares of L3Harris Technologies stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $248.48, for a total transaction of $8,214,997.28. Following the completion of the sale, the chief executive officer owned 145,572 shares in the company, valued at $36,171,730.56. The trade was a 18.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Edward J. Zoiss sold 2,000 shares of L3Harris Technologies stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $245.00, for a total transaction of $490,000.00. Following the sale, the insider owned 25,325 shares of the company’s stock, valued at approximately $6,204,625. This represents a 7.32% decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.

L3Harris Technologies Stock Performance

LHX opened at $269.28 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $50.34 billion, a PE ratio of 30.09, a PEG ratio of 2.09 and a beta of 0.75. L3Harris Technologies Inc has a 1-year low of $193.09 and a 1-year high of $280.03. The firm has a 50-day moving average price of $251.91 and a two-hundred day moving average price of $226.31.

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

L3Harris Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Stockholders of record on Friday, September 5th will be given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 1.78%. The ex-dividend date is Friday, September 5th. L3Harris Technologies’s dividend payout ratio is 53.63%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. The Goldman Sachs Group raised shares of L3Harris Technologies from a “sell” rating to a “buy” rating and raised their price objective for the stock from $198.00 to $263.00 in a report on Friday, April 11th. Sanford C. Bernstein reiterated an “outperform” rating on shares of L3Harris Technologies in a research report on Monday, July 14th. Susquehanna increased their target price on shares of L3Harris Technologies from $300.00 to $320.00 and gave the stock a “positive” rating in a research report on Friday. Truist Financial increased their target price on shares of L3Harris Technologies from $279.00 to $302.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Wells Fargo & Company dropped their target price on shares of L3Harris Technologies from $268.00 to $242.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, L3Harris Technologies presently has an average rating of “Moderate Buy” and an average price target of $276.53.

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.