American Trust Has $219,000 Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

American Trust lessened its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 4.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 922 shares of the company’s stock after selling 46 shares during the period. American Trust’s holdings in L3Harris Technologies were worth $219,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Geode Capital Management LLC lifted its stake in shares of L3Harris Technologies by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,734,832 shares of the company’s stock valued at $1,122,630,000 after acquiring an additional 59,008 shares during the last quarter. Bank of New York Mellon Corp raised its position in L3Harris Technologies by 19.7% in the second quarter. Bank of New York Mellon Corp now owns 3,174,181 shares of the company’s stock valued at $712,858,000 after purchasing an additional 523,315 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of L3Harris Technologies by 1.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,039,832 shares of the company’s stock valued at $485,215,000 after purchasing an additional 27,763 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of L3Harris Technologies by 5.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,542,333 shares of the company’s stock worth $366,875,000 after purchasing an additional 85,882 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. increased its stake in shares of L3Harris Technologies by 2.2% in the second quarter. Diamond Hill Capital Management Inc. now owns 1,489,129 shares of the company’s stock valued at $334,429,000 after buying an additional 31,686 shares during the period. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

L3Harris Technologies stock opened at $223.16 on Friday. The stock has a market capitalization of $42.33 billion, a price-to-earnings ratio of 35.25, a PEG ratio of 1.91 and a beta of 0.72. L3Harris Technologies, Inc. has a 52-week low of $200.18 and a 52-week high of $265.74. The stock’s 50 day moving average price is $245.13 and its two-hundred day moving average price is $234.86. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, beating the consensus estimate of $3.27 by $0.07. The firm had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.28 billion. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The business’s revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.19 earnings per share. On average, equities analysts predict that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Monday, November 18th were issued a $1.16 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $4.64 annualized dividend and a yield of 2.08%. L3Harris Technologies’s payout ratio is currently 73.30%.

Insider Buying and Selling at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $247.93, for a total value of $740,814.84. Following the transaction, the insider now directly owns 10,340 shares in the company, valued at $2,563,596.20. This trade represents a 22.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on LHX. Royal Bank of Canada lifted their target price on shares of L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a research report on Monday, October 28th. Deutsche Bank Aktiengesellschaft cut their price target on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Argus upgraded L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price objective for the company in a report on Tuesday, November 26th. StockNews.com raised L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Finally, Wells Fargo & Company reduced their price target on L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a research report on Wednesday. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $269.13.

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.