Gryphon Financial Partners LLC Lowers Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Gryphon Financial Partners LLC reduced its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 6.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,489 shares of the company’s stock after selling 97 shares during the quarter. Gryphon Financial Partners LLC’s holdings in L3Harris Technologies were worth $334,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Transcendent Capital Group LLC purchased a new stake in L3Harris Technologies in the fourth quarter valued at approximately $28,000. EntryPoint Capital LLC raised its stake in L3Harris Technologies by 70.4% in the first quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock valued at $36,000 after purchasing an additional 69 shares in the last quarter. Versant Capital Management Inc raised its stake in L3Harris Technologies by 77.7% in the second quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock valued at $41,000 after purchasing an additional 80 shares in the last quarter. Family Firm Inc. purchased a new stake in L3Harris Technologies in the second quarter valued at approximately $45,000. Finally, Sachetta LLC purchased a new stake in L3Harris Technologies in the fourth quarter valued at approximately $49,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Stock Down 0.5 %

Shares of L3Harris Technologies stock opened at $228.04 on Wednesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.74 and a current ratio of 0.90. L3Harris Technologies, Inc. has a 52-week low of $160.25 and a 52-week high of $245.60. The stock has a market capitalization of $43.25 billion, a price-to-earnings ratio of 37.02, a P/E/G ratio of 1.88 and a beta of 0.73. The company’s 50 day moving average price is $230.83 and its 200-day moving average price is $220.91.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, July 25th. The company reported $3.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.18 by $0.06. The firm 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%. The business’s revenue was up 12.9% on a year-over-year basis. During the same quarter last year, the business earned $2.97 earnings per share. Equities research analysts forecast that L3Harris Technologies, Inc. will post 13.06 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be issued a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend is Friday, September 6th. L3Harris Technologies’s dividend payout ratio (DPR) is currently 75.32%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on LHX shares. Susquehanna raised their target price on shares of L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research note on Monday, July 29th. Morgan Stanley downgraded shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $275.00 to $257.00 in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating and lifted their price target for the stock from $245.00 to $257.00 in a research note on Friday, July 26th. Royal Bank of Canada downgraded shares of L3Harris Technologies from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $250.00 to $240.00 in a research note on Wednesday, August 14th. Finally, Barclays lifted their price target on shares of L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, L3Harris Technologies has an average rating of “Moderate Buy” and a consensus target price of $247.08.

Insider Activity at L3Harris Technologies

In related news, VP Sean J. Stackley sold 3,354 shares of L3Harris Technologies stock in a transaction on Monday, June 17th. The shares were sold at an average price of $216.73, for a total value of $726,912.42. Following the sale, the vice president now owns 14,186 shares in the company, valued at $3,074,531.78. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $236.68, for a total value of $707,199.84. Following the sale, the insider now owns 16,316 shares in the company, valued at $3,861,670.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Sean J. Stackley sold 3,354 shares of the firm’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $216.73, for a total value of $726,912.42. Following the transaction, 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. Insiders have sold a total of 36,110 shares of company stock worth $8,319,939 over the last quarter. Corporate insiders own 0.82% of the company’s stock.

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.