First Citizens Bank & Trust Co. Sells 111 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

First Citizens Bank & Trust Co. reduced its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 1.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,832 shares of the company’s stock after selling 111 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in L3Harris Technologies were worth $2,577,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Meeder Asset Management Inc. lifted its holdings in shares of L3Harris Technologies by 260.6% in the 2nd quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock worth $27,000 after purchasing an additional 86 shares in the last quarter. EntryPoint Capital LLC lifted its stake in shares of 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 buying an additional 69 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of L3Harris Technologies by 77.7% during the second quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock valued at $41,000 after buying an additional 80 shares during the last quarter. Family Firm Inc. bought a new stake in shares of L3Harris Technologies during the second quarter worth about $45,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of L3Harris Technologies in the 2nd quarter worth about $57,000. Institutional investors own 84.76% of the company’s stock.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $244.68, for a total value of $731,103.84. Following the completion of the transaction, the insider now owns 13,328 shares in the company, valued at $3,261,095.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.82% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on LHX shares. Citigroup lifted their price target on L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Morgan Stanley cut L3Harris Technologies from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $275.00 to $257.00 in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft lowered their price target on L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Royal Bank of Canada downgraded shares of L3Harris Technologies from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from $250.00 to $240.00 in a report on Wednesday, August 14th. Finally, Barclays raised their price target on shares of L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $256.71.

L3Harris Technologies Stock Up 0.2 %

L3Harris Technologies stock opened at $248.78 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.90 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $47.19 billion, a P/E ratio of 40.39, a P/E/G ratio of 2.08 and a beta of 0.73. The firm has a 50 day moving average price of $235.12 and a 200-day moving average price of $225.96. L3Harris Technologies, Inc. has a twelve month low of $169.55 and a twelve month high of $249.16.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, July 25th. The company reported $3.24 earnings per share for the quarter, beating the consensus estimate of $3.18 by $0.06. The business had revenue of $5.30 billion during the quarter, compared to analyst estimates of $5.30 billion. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. L3Harris Technologies’s revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.97 earnings per share. As a group, equities analysts predict that L3Harris Technologies, Inc. will post 13.06 EPS for the current year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend is Monday, November 18th. L3Harris Technologies’s dividend payout ratio is currently 75.32%.

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.