Catalyst Capital Advisors LLC Has $114,000 Stock Holdings in L3Harris Technologies Inc $LHX

Catalyst Capital Advisors LLC cut its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 14.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 453 shares of the company’s stock after selling 74 shares during the period. Catalyst Capital Advisors LLC’s holdings in L3Harris Technologies were worth $114,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of LHX. Cyndeo Wealth Partners LLC lifted its position in shares of L3Harris Technologies by 2.7% in the second quarter. Cyndeo Wealth Partners LLC now owns 1,396 shares of the company’s stock valued at $350,000 after buying an additional 37 shares during the last quarter. Independence Bank of Kentucky raised its stake in L3Harris Technologies by 44.4% in the 2nd quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock valued at $33,000 after acquiring an additional 40 shares during the period. DB Fitzpatrick & Co Inc lifted its holdings in L3Harris Technologies by 1.0% during the 2nd quarter. DB Fitzpatrick & Co Inc now owns 4,450 shares of the company’s stock valued at $1,116,000 after purchasing an additional 42 shares during the last quarter. Riverbend Wealth Management LLC boosted its position in L3Harris Technologies by 4.3% during the second quarter. Riverbend Wealth Management LLC now owns 1,027 shares of the company’s stock worth $258,000 after purchasing an additional 42 shares during the period. Finally, Klingman & Associates LLC increased its holdings in shares of L3Harris Technologies by 2.2% in the second quarter. Klingman & Associates LLC now owns 1,986 shares of the company’s stock valued at $498,000 after purchasing an additional 42 shares during the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other 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 transaction, the chief executive officer owned 145,578 shares in the company, valued at approximately $40,747,282.20. This trade 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. In the last 90 days, insiders sold 195,138 shares of company stock valued at $53,571,774. Company insiders own 0.72% of the company’s stock.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $293.22 on Friday. The firm has a market cap of $54.86 billion, a P/E ratio of 32.76, a price-to-earnings-growth ratio of 2.14 and a beta of 0.76. 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 Inc has a 1-year low of $193.09 and a 1-year high of $308.12. The business’s 50 day moving average is $285.35 and its 200-day moving average is $258.81.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, July 24th. The company reported $2.78 earnings per share (EPS) 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 quarter last year, the company posted $3.24 EPS. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. Equities research analysts predict that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Monday, November 17th will be paid a $1.20 dividend. The ex-dividend date is Monday, November 17th. This represents a $4.80 annualized dividend and a dividend yield of 1.6%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 53.63%.

Analyst Ratings Changes

A number of analysts have recently issued reports on LHX shares. Truist Financial raised their target price on shares of L3Harris Technologies from $302.00 to $353.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. UBS Group raised their price objective on shares of L3Harris Technologies from $262.00 to $280.00 and gave the stock a “neutral” rating in a research report on Friday, July 25th. Barclays boosted their price objective on L3Harris Technologies from $255.00 to $305.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of L3Harris Technologies in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Friday, August 22nd. Thirteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, L3Harris Technologies currently has an average rating of “Moderate Buy” and an average price target of $287.63.

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.