L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Matrix Asset Advisors Inc. NY

Matrix Asset Advisors Inc. NY reduced its stake in shares of L3Harris Technologies, Inc. (NYSE:LHXGet Rating) by 0.2% during the 2nd quarter, HoldingsChannel reports. The firm owned 23,637 shares of the company’s stock after selling 53 shares during the quarter. Matrix Asset Advisors Inc. NY’s holdings in L3Harris Technologies were worth $5,713,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its holdings in shares of L3Harris Technologies by 8.9% in the fourth quarter. JPMorgan Chase & Co. now owns 216,696 shares of the company’s stock valued at $46,209,000 after buying an additional 17,718 shares during the last quarter. Invesco Ltd. raised its holdings in L3Harris Technologies by 10.3% during the fourth quarter. Invesco Ltd. now owns 771,157 shares of the company’s stock worth $164,441,000 after purchasing an additional 72,214 shares in the last quarter. Hilltop Holdings Inc. raised its holdings in L3Harris Technologies by 15.0% during the fourth quarter. Hilltop Holdings Inc. now owns 3,093 shares of the company’s stock worth $659,000 after purchasing an additional 404 shares in the last quarter. Rockefeller Capital Management L.P. raised its holdings in L3Harris Technologies by 6.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 38,768 shares of the company’s stock worth $8,266,000 after purchasing an additional 2,392 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV raised its holdings in L3Harris Technologies by 1.2% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 23,251 shares of the company’s stock worth $4,958,000 after purchasing an additional 278 shares in the last quarter. Hedge funds and other institutional investors own 83.00% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada began coverage on shares of L3Harris Technologies in a report on Monday, August 29th. They set an “outperform” rating and a $285.00 price target for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $267.91.

L3Harris Technologies Price Performance

L3Harris Technologies stock traded down $3.90 during mid-day trading on Friday, reaching $222.11. The company had a trading volume of 6,178 shares, compared to its average volume of 919,838. The stock’s 50-day simple moving average is $231.89 and its 200-day simple moving average is $239.03. The company has a market capitalization of $42.50 billion, a P/E ratio of 23.28, a P/E/G ratio of 5.12 and a beta of 0.68. L3Harris Technologies, Inc. has a 1 year low of $200.71 and a 1 year high of $279.71. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.01.

L3Harris Technologies (NYSE:LHXGet Rating) last posted its quarterly earnings results on Thursday, July 28th. The company reported $3.23 earnings per share for the quarter, topping analysts’ consensus estimates of $3.16 by $0.07. L3Harris Technologies had a net margin of 11.36% and a return on equity of 13.09%. The company had revenue of $4.14 billion for the quarter, compared to the consensus estimate of $4.23 billion. During the same quarter last year, the firm posted $3.26 earnings per share. L3Harris Technologies’s revenue was down 11.4% on a year-over-year basis. On average, equities analysts predict that L3Harris Technologies, Inc. will post 13.45 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, September 2nd were issued a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend was Thursday, September 1st. L3Harris Technologies’s dividend payout ratio is currently 46.14%.

Insiders Place Their Bets

In other news, SVP Scott T. Mikuen sold 8,518 shares of L3Harris Technologies stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $237.95, for a total value of $2,026,858.10. Following the completion of the transaction, the senior vice president now directly owns 44,735 shares of the company’s stock, valued at approximately $10,644,693.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other L3Harris Technologies news, SVP Scott T. Mikuen sold 8,518 shares of the business’s stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $237.95, for a total transaction of $2,026,858.10. Following the completion of the transaction, the senior vice president now directly owns 44,735 shares of the company’s stock, valued at approximately $10,644,693.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP James P. Girard sold 7,500 shares of L3Harris Technologies stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $240.00, for a total transaction of $1,800,000.00. Following the completion of the transaction, the vice president now owns 12,143 shares in the company, valued at approximately $2,914,320. The disclosure for this sale can be found here. Insiders sold a total of 23,518 shares of company stock valued at $5,626,858 in the last ninety days. Corporate insiders own 1.00% of the company’s stock.

L3Harris Technologies Company Profile

(Get Rating)

L3Harris Technologies, Inc, an aerospace and defense technology company, provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides multi-mission intelligence, surveillance, and reconnaissance (ISR) systems; and communication systems, as well as fleet management support, sensor development, modification, and periodic depot maintenance services for ISR and airborne missions.

Further Reading

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

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