L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by NBT Bank N A NY

NBT Bank N A NY reduced its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 32.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,900 shares of the company’s stock after selling 2,325 shares during the quarter. NBT Bank N A NY’s holdings in L3Harris Technologies were worth $1,030,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Bradley & Co. Private Wealth Management LLC purchased a new position in L3Harris Technologies in the 4th quarter valued at approximately $27,000. Roxbury Financial LLC purchased a new position in L3Harris Technologies in the 4th quarter valued at approximately $30,000. Archer Investment Corp increased its stake in L3Harris Technologies by 48.9% in the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after purchasing an additional 43 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new position in L3Harris Technologies in the 4th quarter valued at approximately $33,000. Finally, Kennebec Savings Bank purchased a new position in L3Harris Technologies in the 3rd quarter valued at approximately $36,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Sanford C. Bernstein raised L3Harris Technologies from a “market perform” rating to an “outperform” rating and dropped their price objective for the company from $289.00 to $267.00 in a research note on Wednesday, January 8th. UBS Group raised their price objective on L3Harris Technologies from $228.00 to $237.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Citigroup dropped their price target on L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating for the company in a research report on Monday, February 10th. Royal Bank of Canada reissued a “sector perform” rating and set a $240.00 price target on shares of L3Harris Technologies in a research report on Friday, January 31st. Finally, Argus raised L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price target for the company in a research report on Tuesday, November 26th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $261.40.

L3Harris Technologies Trading Down 0.9 %

Shares of LHX opened at $218.16 on Tuesday. The stock’s 50-day moving average is $209.13 and its two-hundred day moving average is $227.53. The stock has a market cap of $41.08 billion, a PE ratio of 27.72, a P/E/G ratio of 2.42 and a beta of 0.74. L3Harris Technologies, Inc. has a 12 month low of $193.09 and a 12 month high of $265.74. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, January 30th. The company reported $3.47 EPS for the quarter, topping 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%. Equities analysts forecast that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be issued a $1.20 dividend. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.16. This represents a $4.80 annualized dividend and a yield of 2.20%. The ex-dividend date is Monday, March 10th. L3Harris Technologies’s payout ratio is currently 60.99%.

Insider Activity

In other news, insider Jon Rambeau sold 3,178 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $226.00, for a total transaction of $718,228.00. Following the completion of the transaction, the insider now directly owns 2,797 shares in the company, valued at approximately $632,122. The trade was a 53.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Ross Niebergall sold 1,764 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $223.62, for a total value of $394,465.68. Following the transaction, the insider now owns 8,576 shares of the company’s stock, valued at approximately $1,917,765.12. This represents a 17.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,862 shares of company stock valued at $2,155,054. 0.82% of the stock is currently owned by insiders.

L3Harris Technologies Company 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.