Ethic Inc. Has $3.54 Million Stock Holdings in L3Harris Technologies Inc $LHX

Ethic Inc. lifted its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 18.4% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 14,329 shares of the company’s stock after buying an additional 2,222 shares during the quarter. Ethic Inc.’s holdings in L3Harris Technologies were worth $3,539,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Cyndeo Wealth Partners LLC lifted its stake in shares of L3Harris Technologies by 2.7% during the 2nd quarter. Cyndeo Wealth Partners LLC now owns 1,396 shares of the company’s stock worth $350,000 after buying an additional 37 shares during the last quarter. Independence Bank of Kentucky lifted its stake in shares of L3Harris Technologies by 44.4% during the 2nd quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock worth $33,000 after buying an additional 40 shares during the last quarter. DB Fitzpatrick & Co Inc lifted its stake in shares of L3Harris Technologies by 1.0% during the 2nd quarter. DB Fitzpatrick & Co Inc now owns 4,450 shares of the company’s stock worth $1,116,000 after buying an additional 42 shares during the last quarter. Riverbend Wealth Management LLC lifted its stake in shares of L3Harris Technologies by 4.3% during the 2nd quarter. Riverbend Wealth Management LLC now owns 1,027 shares of the company’s stock worth $258,000 after buying an additional 42 shares during the last quarter. Finally, Klingman & Associates LLC lifted its stake in shares of L3Harris Technologies by 2.2% during the 2nd quarter. Klingman & Associates LLC now owns 1,986 shares of the company’s stock worth $498,000 after buying an additional 42 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

Shares of L3Harris Technologies stock opened at $293.37 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. L3Harris Technologies Inc has a twelve month low of $193.09 and a twelve month high of $308.12. The stock has a market capitalization of $54.89 billion, a price-to-earnings ratio of 32.78, a price-to-earnings-growth ratio of 2.11 and a beta of 0.76. The company has a 50-day simple moving average of $284.90 and a two-hundred day simple moving average of $257.77.

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

L3Harris Technologies Announces Dividend

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 issued 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 currently 53.63%.

Insider Buying and Selling

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 shares were 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 $40,747,282.20. This trade represents a 36.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 195,138 shares of company stock valued at $53,571,774. 0.72% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on LHX. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of L3Harris Technologies in a research note on Wednesday, October 8th. Barclays raised their target price on shares of L3Harris Technologies from $255.00 to $305.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 29th. UBS Group lifted their price objective on shares of L3Harris Technologies from $262.00 to $280.00 and gave the stock a “neutral” rating in a research note on Friday, July 25th. Truist Financial lifted their price objective 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. Finally, Morgan Stanley lifted their price objective 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. 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.