First National Trust Co Boosts Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

First National Trust Co increased its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 6.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 4,837 shares of the company’s stock after acquiring an additional 276 shares during the quarter. First National Trust Co’s holdings in L3Harris Technologies were worth $1,019,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Sapient Capital LLC purchased a new stake in shares of L3Harris Technologies in the fourth quarter worth $1,198,000. Axxcess Wealth Management LLC purchased a new stake in shares of L3Harris Technologies in the fourth quarter worth $661,000. 9258 Wealth Management LLC increased its stake in L3Harris Technologies by 20.0% in the fourth quarter. 9258 Wealth Management LLC now owns 4,371 shares of the company’s stock valued at $921,000 after acquiring an additional 727 shares during the last quarter. Carson Advisory Inc. bought a new position in L3Harris Technologies in the fourth quarter valued at $219,000. Finally, Benjamin F. Edwards & Company Inc. increased its stake in L3Harris Technologies by 48.2% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 4,673 shares of the company’s stock valued at $984,000 after acquiring an additional 1,519 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on LHX. Alembic Global Advisors raised L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 target price on the stock in a research note on Monday, April 22nd. Royal Bank of Canada raised their price objective on L3Harris Technologies from $245.00 to $250.00 and gave the company an “outperform” rating in a research note on Monday, April 29th. Wells Fargo & Company cut their target price on L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 30th. JPMorgan Chase & Co. raised their target price on L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, UBS Group raised their target price on L3Harris Technologies from $222.00 to $229.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $231.33.

Insider Activity

In other L3Harris Technologies news, Director William H. Swanson bought 1,250 shares of the stock in a transaction dated Thursday, March 14th. The stock was purchased at an average cost of $215.35 per share, for a total transaction of $269,187.50. Following the completion of the acquisition, the director now owns 1,543 shares of the company’s stock, valued at $332,285.05. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Christopher E. Kubasik sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $212.22, for a total value of $8,488,800.00. Following the transaction, the chief executive officer now directly owns 116,175 shares of the company’s stock, valued at approximately $24,654,658.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William H. Swanson acquired 1,250 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average cost of $215.35 per share, for a total transaction of $269,187.50. Following the completion of the transaction, the director now directly owns 1,543 shares in the company, valued at approximately $332,285.05. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 48,362 shares of company stock worth $10,261,360. Insiders own 0.82% of the company’s stock.

L3Harris Technologies Stock Up 0.4 %

LHX traded up $0.90 on Friday, hitting $212.24. The company had a trading volume of 790,904 shares, compared to its average volume of 1,043,142. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.98 and a quick ratio of 0.80. L3Harris Technologies, Inc. has a 52-week low of $160.25 and a 52-week high of $218.34. The stock has a fifty day simple moving average of $210.18 and a 200-day simple moving average of $202.54. The firm has a market capitalization of $40.26 billion, a P/E ratio of 34.45, a P/E/G ratio of 1.88 and a beta of 0.63.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, April 25th. The company reported $3.06 EPS for the quarter, topping the consensus estimate of $2.89 by $0.17. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The business had revenue of $5.21 billion during the quarter, compared to analyst estimates of $5.11 billion. During the same period last year, the business posted $2.86 earnings per share. L3Harris Technologies’s quarterly revenue was up 16.6% compared to the same quarter last year. As a group, equities analysts expect that L3Harris Technologies, Inc. will post 12.91 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be issued a dividend of $1.16 per share. The ex-dividend date is Friday, May 31st. This represents a $4.64 annualized dividend and a dividend yield of 2.19%. L3Harris Technologies’s payout ratio is 75.32%.

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.