L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Pacer Advisors Inc.

Posted by Defense World Staff on Sep 25th, 2023

Pacer Advisors Inc. reduced its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX – Free Report) by 9.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 12,055 shares of the company’s stock after selling 1,235 shares during the period. Pacer Advisors Inc.’s holdings in L3Harris Technologies were worth $2,360,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new position in L3Harris Technologies in the 4th quarter valued at about $342,413,000. Cowa LLC acquired a new position in shares of L3Harris Technologies in the first quarter valued at approximately $26,000. Allspring Global Investments Holdings LLC raised its stake in shares of L3Harris Technologies by 322.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,090,275 shares of the company’s stock worth $213,956,000 after purchasing an additional 832,313 shares during the last quarter. CIBC Private Wealth Group LLC lifted its holdings in shares of L3Harris Technologies by 66.7% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,939,444 shares of the company’s stock worth $403,812,000 after purchasing an additional 775,738 shares during the period. Finally, Swiss National Bank purchased a new position in L3Harris Technologies in the 1st quarter valued at $148,108,000. 81.33% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Stock Performance

Shares of NYSE LHX opened at $173.57 on Monday. The company has a 50-day simple moving average of $182.60 and a 200-day simple moving average of $189.42. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.09 and a quick ratio of 0.84. The company has a market cap of $32.83 billion, a PE ratio of 41.33, a price-to-earnings-growth ratio of 4.71 and a beta of 0.72. L3Harris Technologies, Inc. has a 12 month low of $167.14 and a 12 month high of $255.10.

L3Harris Technologies (NYSE:LHX – Get Free Report) last released its earnings results on Wednesday, July 26th. The company reported $2.97 EPS for the quarter, topping the consensus estimate of $2.94 by $0.03. L3Harris Technologies had a net margin of 4.46% and a return on equity of 12.82%. The firm had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.37 billion. During the same period in the previous year, the company earned $3.23 EPS. L3Harris Technologies’s revenue for the quarter was up 13.5% on a year-over-year basis. On average, equities analysts anticipate that L3Harris Technologies, Inc. will post 12.32 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 19th. Investors of record on Tuesday, September 5th were given a dividend of $1.14 per share. The ex-dividend date of this dividend was Friday, September 1st. This represents a $4.56 annualized dividend and a yield of 2.63%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 108.57%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on LHX shares. StockNews.com initiated coverage on shares of L3Harris Technologies in a research report on Thursday, August 17th. They issued a “buy” rating for the company. The Goldman Sachs Group upped their price objective on L3Harris Technologies from $162.00 to $164.00 in a report on Friday, August 11th. Jefferies Financial Group lowered their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating on the stock in a research note on Monday, July 31st. Royal Bank of Canada reissued an “outperform” rating and set a $240.00 price objective on shares of L3Harris Technologies in a report on Friday, August 18th. Finally, Sanford C. Bernstein cut shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $239.00 to $210.00 in a report on Monday, August 28th. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, L3Harris Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $229.36.

View Our Latest Stock Analysis on LHX

Insiders Place Their Bets

In other news, President Edward J. Zoiss sold 30,000 shares of the stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $90.84, for a total transaction of $2,725,200.00. Following the transaction, the president now directly owns 31,923 shares in the company, valued at approximately $2,899,885.32. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.82% of the stock is owned by corporate insiders.

L3Harris Technologies Profile

(Free Report)

L3Harris Technologies, Inc, an aerospace and defense technology company, provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides multi-mission intelligence, surveillance, and reconnaissance (ISR) systems; and communication systems, as well as fleet management support, sensor development, modification, and periodic depot maintenance services for ISR and airborne missions.