MeadowBrook Investment Advisors LLC Sells 130 Shares of L3Harris Technologies Inc $LHX

MeadowBrook Investment Advisors LLC reduced its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 3.8% in the 2nd quarter, Holdings Channel.com reports. The fund owned 3,266 shares of the company’s stock after selling 130 shares during the period. MeadowBrook Investment Advisors LLC’s holdings in L3Harris Technologies were worth $819,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in LHX. Premier Path Wealth Partners LLC boosted its position in L3Harris Technologies by 16.5% during the second quarter. Premier Path Wealth Partners LLC now owns 1,660 shares of the company’s stock worth $417,000 after purchasing an additional 235 shares during the period. Hantz Financial Services Inc. raised its stake in L3Harris Technologies by 147.3% in the second quarter. Hantz Financial Services Inc. now owns 27,769 shares of the company’s stock valued at $6,966,000 after purchasing an additional 16,542 shares in the last quarter. Arkadios Wealth Advisors raised its stake in L3Harris Technologies by 416.1% in the second quarter. Arkadios Wealth Advisors now owns 12,246 shares of the company’s stock valued at $3,072,000 after purchasing an additional 9,873 shares in the last quarter. Emerald Advisers LLC raised its stake in L3Harris Technologies by 32.0% in the second quarter. Emerald Advisers LLC now owns 2,444 shares of the company’s stock valued at $613,000 after purchasing an additional 593 shares in the last quarter. Finally, Daymark Wealth Partners LLC grew its position in L3Harris Technologies by 2.5% in the second quarter. Daymark Wealth Partners LLC now owns 27,607 shares of the company’s stock valued at $6,925,000 after acquiring an additional 682 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the stock in a transaction dated 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 sale, the chief executive officer owned 145,578 shares of the company’s stock, valued at approximately $40,747,282.20. This represents a 36.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on LHX. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of L3Harris Technologies in a report on Wednesday, October 8th. Truist Financial boosted their price target on L3Harris Technologies from $302.00 to $353.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of L3Harris Technologies in a research report on Monday, July 14th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of L3Harris Technologies in a research report on Wednesday, October 8th. Finally, Royal Bank Of Canada upped their price target on L3Harris Technologies from $265.00 to $280.00 and gave the stock a “sector perform” rating in a report 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 company has a consensus rating of “Moderate Buy” and an average target price of $287.63.

L3Harris Technologies Stock Down 0.1%

LHX stock opened at $286.98 on Thursday. 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 market capitalization of $53.69 billion, a price-to-earnings ratio of 32.07, a PEG ratio of 2.10 and a beta of 0.76. L3Harris Technologies Inc has a fifty-two week low of $193.09 and a fifty-two week high of $308.12. The stock has a fifty day moving average of $286.25 and a 200-day moving average of $260.62.

L3Harris Technologies Announces Dividend

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

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.