D.A. Davidson & CO. Purchases 863 Shares of L3Harris Technologies Inc $LHX

D.A. Davidson & CO. boosted its position in L3Harris Technologies Inc (NYSE:LHX) by 11.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,582 shares of the company’s stock after purchasing an additional 863 shares during the quarter. D.A. Davidson & CO.’s holdings in L3Harris Technologies were worth $2,153,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Clearstead Trust LLC bought a new position in shares of L3Harris Technologies during the first quarter valued at $26,000. Nova Wealth Management Inc. bought a new position in shares of L3Harris Technologies during the first quarter valued at $26,000. Kiker Wealth Management LLC increased its holdings in shares of L3Harris Technologies by 137.0% during the second quarter. Kiker Wealth Management LLC now owns 109 shares of the company’s stock valued at $27,000 after acquiring an additional 63 shares in the last quarter. Harbor Asset Planning Inc. bought a new position in shares of L3Harris Technologies during the second quarter valued at $32,000. Finally, Independence Bank of Kentucky increased its holdings in shares of L3Harris Technologies by 44.4% during the second quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock valued at $33,000 after acquiring an additional 40 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Trading Down 0.0%

Shares of NYSE:LHX opened at $293.22 on Monday. 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. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04. The stock’s 50-day simple moving average is $285.35 and its two-hundred day simple moving average is $259.12. L3Harris Technologies Inc has a 52-week low of $193.09 and a 52-week high of $308.12.

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

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Monday, November 17th will be given a $1.20 dividend. This represents a $4.80 annualized dividend and a 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%.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 83,000 shares of the firm’s stock in a transaction dated 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 directly 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold 195,138 shares of company stock valued at $53,571,774 over the last 90 days. Company insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on LHX shares. Robert W. Baird raised their price target on L3Harris Technologies from $274.00 to $320.00 and gave the company 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. Truist Financial increased their price objective on L3Harris Technologies from $302.00 to $353.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Royal Bank Of Canada increased their price objective on L3Harris Technologies from $265.00 to $280.00 and gave the company a “sector perform” rating in a research report on Friday, July 25th. Finally, Wall Street Zen raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Friday, August 22nd. Thirteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $287.63.

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.