Leeward Investments LLC MA Sells 640 Shares of L3Harris Technologies Inc $LHX

Leeward Investments LLC MA lowered its holdings in L3Harris Technologies Inc (NYSE:LHX) by 1.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,672 shares of the company’s stock after selling 640 shares during the period. Leeward Investments LLC MA’s holdings in L3Harris Technologies were worth $8,697,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. Clearstead Trust LLC bought a new position in shares of L3Harris Technologies in the 1st quarter valued at about $26,000. Nova Wealth Management Inc. bought a new position in shares of L3Harris Technologies in the 1st quarter valued at about $26,000. Kiker Wealth Management LLC grew its position in shares of L3Harris Technologies by 137.0% in the 2nd quarter. Kiker Wealth Management LLC now owns 109 shares of the company’s stock valued at $27,000 after acquiring an additional 63 shares during the period. Harbor Asset Planning Inc. bought a new position in shares of L3Harris Technologies in the 2nd quarter valued at about $32,000. Finally, Independence Bank of Kentucky grew its position in shares of L3Harris Technologies by 44.4% in the 2nd quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock valued at $33,000 after acquiring an additional 40 shares during the period. Institutional investors own 84.76% of the company’s stock.

Insiders Place Their Bets

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 83,000 shares of L3Harris Technologies stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $279.90, for a total value of $23,231,700.00. Following the completion of the sale, the chief executive officer owned 145,578 shares in the company, valued at $40,747,282.20. The trade was a 36.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders have sold 195,138 shares of company stock valued at $53,571,774. 0.72% of the stock is owned by insiders.

L3Harris Technologies Price Performance

Shares of L3Harris Technologies stock opened at $293.22 on Friday. L3Harris Technologies Inc has a twelve month low of $193.09 and a twelve month high of $308.12. 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 company has a 50-day simple moving average of $285.35 and a two-hundred day simple moving average of $258.81. The stock has a market capitalization of $54.86 billion, a price-to-earnings ratio of 32.76, a price-to-earnings-growth ratio of 2.14 and a beta of 0.76.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, July 24th. The company reported $2.78 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.30. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The business had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.31 billion. During the same quarter in the previous year, the company earned $3.24 EPS. The business’s revenue was up 2.4% on a year-over-year basis. Analysts forecast that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Monday, November 17th will be paid a $1.20 dividend. The ex-dividend date is Monday, November 17th. This represents a $4.80 annualized dividend and a yield of 1.6%. L3Harris Technologies’s payout ratio is 53.63%.

Analyst Ratings Changes

LHX has been the subject of a number of analyst reports. Truist Financial lifted their price objective on shares of L3Harris Technologies from $302.00 to $353.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Weiss Ratings reissued a “buy (b-)” rating on shares of L3Harris Technologies in a research report on Saturday. Citigroup raised their target price on shares of L3Harris Technologies from $300.00 to $323.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of L3Harris Technologies in a research note on Wednesday, October 8th. Finally, Royal Bank Of Canada raised their target price on shares of L3Harris Technologies from $265.00 to $280.00 and gave the stock a “sector perform” rating in a research note on Friday, July 25th. Thirteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $287.63.

About L3Harris Technologies

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.