Mondrian Investment Partners LTD Lowers Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Mondrian Investment Partners LTD trimmed its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 5.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 396,398 shares of the company’s stock after selling 24,247 shares during the period. Mondrian Investment Partners LTD owned 0.21% of L3Harris Technologies worth $89,939,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Meeder Asset Management Inc. grew its stake in L3Harris Technologies by 260.6% during the 2nd quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock worth $27,000 after buying an additional 86 shares during the last quarter. Transcendent Capital Group LLC purchased a new stake in shares of L3Harris Technologies during the fourth quarter worth about $28,000. EntryPoint Capital LLC grew its stake in shares of L3Harris Technologies by 70.4% during the first quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock worth $36,000 after acquiring an additional 69 shares during the last quarter. Versant Capital Management Inc increased its holdings in shares of L3Harris Technologies by 77.7% during the second quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock valued at $41,000 after acquiring an additional 80 shares in the last quarter. Finally, Family Firm Inc. purchased a new position in shares of L3Harris Technologies in the 2nd quarter valued at approximately $45,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on LHX shares. Susquehanna raised their price target on shares of L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a report on Monday, July 29th. Wells Fargo & Company lowered their price target on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Morgan Stanley lowered L3Harris Technologies from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $275.00 to $257.00 in a report on Friday, August 9th. Barclays raised their price objective on L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Finally, Royal Bank of Canada lowered shares of L3Harris Technologies from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $250.00 to $240.00 in a report on Wednesday, August 14th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $247.08.

L3Harris Technologies Trading Down 0.9 %

NYSE LHX opened at $229.71 on Wednesday. L3Harris Technologies, Inc. has a 52 week low of $160.25 and a 52 week high of $245.60. The firm has a 50 day moving average of $231.26 and a two-hundred day moving average of $221.53. The stock has a market capitalization of $43.57 billion, a PE ratio of 37.29, a price-to-earnings-growth ratio of 1.95 and a beta of 0.73. The company has a quick ratio of 0.74, a current ratio of 0.90 and a debt-to-equity ratio of 0.56.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, July 25th. The company reported $3.24 EPS for the quarter, topping the consensus estimate of $3.18 by $0.06. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The company had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.30 billion. During the same quarter in the previous year, the company posted $2.97 earnings per share. The firm’s revenue was up 12.9% compared to the same quarter last year. As a group, research analysts expect that L3Harris Technologies, Inc. will post 13.06 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be paid a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 2.02%. The ex-dividend date is Friday, September 6th. L3Harris Technologies’s dividend payout ratio is presently 75.32%.

Insider Transactions at L3Harris Technologies

In related news, SVP Scott T. Mikuen sold 10,527 shares of L3Harris Technologies stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $230.00, for a total value of $2,421,210.00. Following the sale, the senior vice president now directly owns 47,616 shares in the company, valued at $10,951,680. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other L3Harris Technologies news, SVP Scott T. Mikuen sold 10,527 shares of the firm’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $230.00, for a total value of $2,421,210.00. Following the completion of the sale, the senior vice president now owns 47,616 shares of the company’s stock, valued at $10,951,680. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Scott T. Mikuen sold 15,887 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $235.00, for a total transaction of $3,733,445.00. Following the completion of the transaction, the senior vice president now owns 47,616 shares of the company’s stock, valued at approximately $11,189,760. The disclosure for this sale can be found here. Insiders sold 29,402 shares of company stock worth $6,861,855 over the last 90 days. 0.82% of the stock is currently owned by insiders.

L3Harris Technologies 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.