Transcend Capital Advisors LLC Sells 368 Shares of L3Harris Technologies Inc $LHX

Transcend Capital Advisors LLC reduced its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 12.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,528 shares of the company’s stock after selling 368 shares during the period. Transcend Capital Advisors LLC’s holdings in L3Harris Technologies were worth $634,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Gold Investment Management Ltd. raised its stake in shares of L3Harris Technologies by 108.4% in the second quarter. Gold Investment Management Ltd. now owns 1,738 shares of the company’s stock worth $437,000 after acquiring an additional 904 shares during the last quarter. BankPlus Trust Department raised its stake in shares of L3Harris Technologies by 6.9% during the second quarter. BankPlus Trust Department now owns 5,854 shares of the company’s stock worth $1,468,000 after buying an additional 379 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in shares of L3Harris Technologies by 20.6% during the second quarter. Janney Montgomery Scott LLC now owns 193,381 shares of the company’s stock worth $48,508,000 after buying an additional 33,019 shares during the last quarter. US Bancorp DE raised its stake in shares of L3Harris Technologies by 1.6% during the second quarter. US Bancorp DE now owns 344,112 shares of the company’s stock worth $86,317,000 after buying an additional 5,526 shares during the last quarter. Finally, Dean Capital Management raised its stake in shares of L3Harris Technologies by 11.5% during the first quarter. Dean Capital Management now owns 9,596 shares of the company’s stock worth $2,009,000 after buying an additional 986 shares during the last quarter. 84.76% of the stock is owned by institutional investors.

Insider Transactions at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the business’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 approximately $40,747,282.20. The trade was a 36.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.72% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on LHX. Barclays upped their target price on shares of L3Harris Technologies from $255.00 to $305.00 and gave the company an “overweight” rating in a research note on Tuesday, July 29th. Weiss Ratings reiterated a “buy (b-)” rating on shares of L3Harris Technologies in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of L3Harris Technologies in a research report on Wednesday, October 8th. Wall Street Zen raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Friday, August 22nd. Finally, Royal Bank Of Canada increased their price objective on shares of L3Harris Technologies from $265.00 to $280.00 and gave the company a “sector perform” rating in a research report on Friday, July 25th. Thirteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $287.63.

L3Harris Technologies Stock Down 1.4%

L3Harris Technologies stock opened at $287.20 on Wednesday. The firm has a 50 day moving average price of $286.03 and a two-hundred day moving average price of $260.17. L3Harris Technologies Inc has a 52-week low of $193.09 and a 52-week high of $308.12. 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 firm has a market cap of $53.74 billion, a price-to-earnings ratio of 32.09, a PEG ratio of 2.12 and a beta of 0.76.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Monday, November 17th will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Monday, November 17th. L3Harris Technologies’s payout ratio is currently 53.63%.

L3Harris Technologies Company 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.