L3Harris Technologies Inc $LHX Holdings Raised by Sage Mountain Advisors LLC

Sage Mountain Advisors LLC increased its stake in L3Harris Technologies Inc (NYSE:LHX) by 85.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,067 shares of the company’s stock after purchasing an additional 953 shares during the quarter. Sage Mountain Advisors LLC’s holdings in L3Harris Technologies were worth $518,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of L3Harris Technologies by 4.7% in the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 548,836 shares of the company’s stock worth $137,670,000 after buying an additional 24,509 shares during the period. Jackson Hole Capital Partners LLC boosted its stake in L3Harris Technologies by 2.9% in the 2nd quarter. Jackson Hole Capital Partners LLC now owns 10,745 shares of the company’s stock worth $2,695,000 after purchasing an additional 302 shares during the period. Asset Management One Co. Ltd. grew its holdings in shares of L3Harris Technologies by 0.9% during the second quarter. Asset Management One Co. Ltd. now owns 76,956 shares of the company’s stock valued at $19,304,000 after buying an additional 676 shares in the last quarter. Strata Wealth Advisors LLC purchased a new position in L3Harris Technologies during the 2nd quarter valued at about $242,000. Finally, FSM Wealth Advisors LLC acquired a new position in shares of L3Harris Technologies in the 2nd quarter valued at about $302,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The stock was 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 directly owned 145,578 shares in the company, valued at approximately $40,747,282.20. The trade was a 36.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders sold 195,138 shares of company stock valued at $53,571,774. 0.72% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Robert W. Baird raised their price target on shares of L3Harris Technologies from $274.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, July 25th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of L3Harris Technologies in a report on Wednesday, October 8th. 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 note on Wednesday, October 15th. Citigroup lifted their price objective on L3Harris Technologies from $300.00 to $323.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Finally, Truist Financial boosted their target price on L3Harris Technologies from $302.00 to $353.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Thirteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $287.63.

L3Harris Technologies Trading Down 0.0%

Shares of NYSE:LHX opened at $293.22 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $54.86 billion, a PE ratio of 32.76, a P/E/G ratio of 2.14 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 firm has a fifty day moving average price of $285.35 and a 200 day moving average price of $258.81.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, July 24th. The company reported $2.78 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.30. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The company had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.31 billion. During the same period last year, the company earned $3.24 earnings per share. The business’s revenue was up 2.4% compared to the same quarter last year. Analysts expect that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

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 paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Monday, November 17th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 53.63%.

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.