Prudent Man Advisors LLC Grows Stake in L3Harris Technologies Inc $LHX

Prudent Man Advisors LLC grew its holdings in L3Harris Technologies Inc (NYSE:LHX) by 17.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 5,620 shares of the company’s stock after buying an additional 823 shares during the quarter. Prudent Man Advisors LLC’s holdings in L3Harris Technologies were worth $1,410,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of LHX. Kiker Wealth Management LLC raised its holdings in L3Harris Technologies by 137.0% in the second quarter. Kiker Wealth Management LLC now owns 109 shares of the company’s stock worth $27,000 after purchasing an additional 63 shares in the last quarter. Clearstead Trust LLC bought a new position in L3Harris Technologies in the first quarter worth $26,000. Nova Wealth Management Inc. bought a new position in L3Harris Technologies in the first quarter worth $26,000. Harbor Asset Planning Inc. bought a new position in L3Harris Technologies in the second quarter worth $32,000. Finally, Independence Bank of Kentucky raised its holdings in L3Harris Technologies by 44.4% in the second quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock worth $33,000 after purchasing an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on LHX shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of L3Harris Technologies in a report on Saturday. Sanford C. Bernstein reiterated an “outperform” rating on shares of L3Harris Technologies in a report on Monday, July 14th. Royal Bank Of Canada lifted their price objective on L3Harris Technologies from $265.00 to $280.00 and gave the company a “sector perform” rating in a research note on Friday, July 25th. Morgan Stanley lifted their price objective on L3Harris Technologies from $250.00 to $350.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 15th. Finally, Citigroup lifted their price objective on L3Harris Technologies from $300.00 to $323.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Thirteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $287.63.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 83,000 shares of L3Harris Technologies stock in a transaction 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 owned 145,578 shares of the company’s stock, 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 is accessible through this link. Over 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 company insiders.

L3Harris Technologies Stock Down 0.0%

Shares of NYSE:LHX opened at $293.22 on Friday. The stock has a fifty day simple moving average of $285.35 and a two-hundred day simple moving average of $258.81. The stock has a market capitalization of $54.86 billion, a price-to-earnings ratio of 32.76, a PEG ratio of 2.14 and a beta of 0.76. L3Harris Technologies Inc has a 12-month low of $193.09 and a 12-month high of $308.12. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57.

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

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Monday, November 17th will be issued a $1.20 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.6%. 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.