Calamos Advisors LLC Reduces Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Calamos Advisors LLC cut its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 21.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 130,528 shares of the company’s stock after selling 35,308 shares during the quarter. Calamos Advisors LLC owned 0.07% of L3Harris Technologies worth $29,314,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of LHX. International Assets Investment Management LLC purchased a new stake in L3Harris Technologies during the 4th quarter valued at about $26,855,000. CWM LLC increased its position in L3Harris Technologies by 11.8% during the 4th quarter. CWM LLC now owns 6,045 shares of the company’s stock valued at $1,273,000 after purchasing an additional 639 shares during the period. Capital Investment Advisory Services LLC purchased a new position in L3Harris Technologies during the 4th quarter valued at $230,000. Jennison Associates LLC purchased a new position in L3Harris Technologies during the 4th quarter valued at $355,000. Finally, Parkside Financial Bank & Trust increased its position in L3Harris Technologies by 13.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 504 shares of the company’s stock valued at $106,000 after purchasing an additional 58 shares during the period. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other L3Harris Technologies news, VP Sean J. Stackley sold 3,354 shares of the business’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $216.73, for a total value of $726,912.42. Following the completion of the transaction, the vice president now owns 14,186 shares of the company’s stock, valued at approximately $3,074,531.78. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other L3Harris Technologies news, SVP Scott T. Mikuen sold 15,887 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $235.00, for a total value of $3,733,445.00. Following the completion of the transaction, the senior vice president now owns 47,616 shares of the company’s stock, valued at approximately $11,189,760. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Sean J. Stackley sold 3,354 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $216.73, for a total transaction of $726,912.42. Following the sale, the vice president now directly owns 14,186 shares of the company’s stock, valued at approximately $3,074,531.78. The disclosure for this sale can be found here. In the last 90 days, insiders sold 84,312 shares of company stock valued at $19,085,072. 0.82% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on LHX shares. Morgan Stanley downgraded shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $275.00 to $257.00 in a research report on Friday, August 9th. Barclays boosted their target price on shares of L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Susquehanna boosted their target price on shares of L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a report on Monday, July 29th. Wells Fargo & Company dropped their target price on shares of L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft cut shares of L3Harris Technologies from a “buy” rating to a “hold” rating and boosted their target price for the company from $245.00 to $257.00 in a report on Friday, July 26th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $244.43.

L3Harris Technologies Stock Down 0.2 %

L3Harris Technologies stock traded down $0.53 during mid-day trading on Friday, reaching $230.68. The stock had a trading volume of 662,526 shares, compared to its average volume of 974,644. The company has a market capitalization of $43.76 billion, a price-to-earnings ratio of 37.45, a PEG ratio of 1.90 and a beta of 0.72. The company has a 50-day moving average price of $228.75 and a two-hundred day moving average price of $219.15. L3Harris Technologies, Inc. has a one year low of $160.25 and a one year high of $245.60. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.90 and a quick ratio of 0.74.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, July 25th. The company reported $3.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.18 by $0.06. The company had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.30 billion. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. L3Harris Technologies’s revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.97 EPS. On average, analysts expect that L3Harris Technologies, Inc. will post 13.04 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be given a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date is Friday, September 6th. L3Harris Technologies’s dividend payout ratio (DPR) is 75.32%.

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.