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

First National Trust Co increased its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 5.0% in the 4th quarter, HoldingsChannel reports. The firm owned 28,426 shares of the company’s stock after purchasing an additional 1,342 shares during the period. First National Trust Co’s holdings in L3Harris Technologies were worth $5,977,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Bradley & Co. Private Wealth Management LLC purchased a new position in L3Harris Technologies in the fourth quarter valued at about $27,000. Roxbury Financial LLC acquired a new stake in shares of L3Harris Technologies in the fourth quarter valued at approximately $30,000. Archer Investment Corp grew its position in shares of L3Harris Technologies by 48.9% in the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after purchasing an additional 43 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new stake in shares of L3Harris Technologies in the fourth quarter valued at approximately $33,000. Finally, New Millennium Group LLC grew its position in shares of L3Harris Technologies by 776.2% in the fourth quarter. New Millennium Group LLC now owns 184 shares of the company’s stock valued at $39,000 after purchasing an additional 163 shares during the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, insider Edward J. Zoiss sold 1,783 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $211.48, for a total value of $377,068.84. Following the completion of the sale, the insider now directly owns 30,620 shares of the company’s stock, valued at $6,475,517.60. This trade represents a 5.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Ross Niebergall sold 1,764 shares of L3Harris Technologies stock in a transaction on Monday, December 16th. The shares were sold at an average price of $223.62, for a total value of $394,465.68. Following the sale, the insider now directly owns 8,576 shares of the company’s stock, valued at $1,917,765.12. This represents a 17.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,862 shares of company stock worth $2,155,054 in the last 90 days. Corporate insiders own 0.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on LHX shares. Citigroup decreased their target price on shares of L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Sanford C. Bernstein upgraded shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and decreased their target price for the stock from $289.00 to $267.00 in a research report on Wednesday, January 8th. JPMorgan Chase & Co. decreased their target price on shares of L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Deutsche Bank Aktiengesellschaft decreased their target price on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a research report on Thursday, January 2nd. Finally, UBS Group lifted their price target on shares of L3Harris Technologies from $228.00 to $237.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $261.40.

L3Harris Technologies Stock Up 1.0 %

Shares of L3Harris Technologies stock opened at $211.04 on Friday. The firm has a market cap of $39.74 billion, a PE ratio of 26.82, a P/E/G ratio of 2.42 and a beta of 0.74. L3Harris Technologies, Inc. has a 52-week low of $193.09 and a 52-week high of $265.74. The business’s 50 day simple moving average is $209.23 and its 200 day simple moving average is $227.17. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. On average, analysts predict that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be given a dividend of $1.20 per share. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.16. The ex-dividend date is Monday, March 10th. This represents a $4.80 annualized dividend and a dividend yield of 2.27%. L3Harris Technologies’s dividend payout ratio is presently 60.99%.

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.