L3Harris Technologies Inc $LHX Shares Sold by Transcend Capital Advisors LLC

Transcend Capital Advisors LLC cut its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 12.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,528 shares of the company’s stock after selling 368 shares during the quarter. Transcend Capital Advisors LLC’s holdings in L3Harris Technologies were worth $634,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Clearstead Trust LLC purchased a new stake in shares of L3Harris Technologies in the 1st quarter valued at approximately $26,000. Nova Wealth Management Inc. purchased a new position in L3Harris Technologies during the 1st quarter worth $26,000. Kiker Wealth Management LLC grew its position in L3Harris Technologies by 137.0% during the 2nd quarter. Kiker Wealth Management LLC now owns 109 shares of the company’s stock worth $27,000 after purchasing an additional 63 shares during the last quarter. Harbor Asset Planning Inc. purchased a new position in L3Harris Technologies during the 2nd quarter worth $32,000. Finally, Independence Bank of Kentucky grew its position in L3Harris Technologies by 44.4% during the 2nd quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock worth $33,000 after purchasing an additional 40 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Trading Down 1.4%

Shares of NYSE:LHX opened at $287.20 on Wednesday. The stock has a market capitalization of $53.74 billion, a price-to-earnings ratio of 32.09, a PEG ratio of 2.12 and a beta of 0.76. L3Harris Technologies Inc has a 1-year low of $193.09 and a 1-year high of $308.12. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04. The company has a 50 day moving average price of $286.03 and a 200 day moving average price of $260.17.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Monday, November 17th will be issued a dividend of $1.20 per share. The ex-dividend date is Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 53.63%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Sanford C. Bernstein restated an “outperform” rating on shares of L3Harris Technologies in a research note on Monday, July 14th. Truist Financial lifted their target price on shares of L3Harris Technologies from $302.00 to $353.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Citigroup lifted their target price on shares of L3Harris Technologies from $300.00 to $323.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Wall Street Zen upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Friday, August 22nd. Finally, Morgan Stanley upped their price target on shares of L3Harris Technologies from $250.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 15th. Thirteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $287.63.

Insider Buying and Selling at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 83,000 shares of the firm’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $279.90, for a total transaction of $23,231,700.00. Following the transaction, the chief executive officer owned 145,578 shares in the company, valued at approximately $40,747,282.20. This trade represents a 36.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.72% of the company’s stock.

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.