L3Harris Technologies Inc $LHX Holdings Cut by Community Trust & Investment Co.

Community Trust & Investment Co. cut its holdings in L3Harris Technologies Inc (NYSE:LHX) by 2.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 58,336 shares of the company’s stock after selling 1,505 shares during the quarter. Community Trust & Investment Co.’s holdings in L3Harris Technologies were worth $17,126,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in LHX. Caitlin John LLC acquired a new position in L3Harris Technologies in the 3rd quarter valued at $28,000. JPL Wealth Management LLC acquired a new position in L3Harris Technologies in the 3rd quarter valued at approximately $29,000. Triumph Capital Management acquired a new position in shares of L3Harris Technologies in the third quarter valued at $31,000. GGM Financials LLC acquired a new position in shares of L3Harris Technologies in the 3rd quarter valued at $32,000. Finally, Salomon & Ludwin LLC bought a new position in shares of L3Harris Technologies during the 3rd quarter worth approximately $34,000. Institutional investors own 84.76% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on LHX. Morgan Stanley increased their price target on L3Harris Technologies from $367.00 to $390.00 and gave the stock an “overweight” rating in a research report on Monday, February 2nd. Truist Financial set a $364.00 target price on shares of L3Harris Technologies in a research report on Wednesday, January 14th. TD Cowen reiterated a “buy” rating on shares of L3Harris Technologies in a research report on Monday, January 5th. Wolfe Research reaffirmed an “outperform” rating on shares of L3Harris Technologies in a research report on Friday, January 30th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of L3Harris Technologies from $340.00 to $395.00 and gave the company an “overweight” rating in a research report on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $328.57.

L3Harris Technologies Stock Performance

Shares of NYSE LHX opened at $345.11 on Tuesday. L3Harris Technologies Inc has a 12 month low of $195.72 and a 12 month high of $379.23. The company has a market capitalization of $64.46 billion, a P/E ratio of 40.46, a P/E/G ratio of 2.55 and a beta of 0.63. The stock has a 50 day moving average of $353.67 and a 200-day moving average of $312.68. The company has a current ratio of 1.19, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, topping analysts’ consensus estimates of $2.76 by $0.10. L3Harris Technologies had a return on equity of 10.43% and a net margin of 7.35%.The company had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.76 billion. During the same quarter last year, the company earned $3.47 earnings per share. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, equities research analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Friday, March 6th were given a dividend of $1.25 per share. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.20. This represents a $5.00 annualized dividend and a yield of 1.4%. The ex-dividend date was Friday, March 6th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 58.62%.

Insider Transactions at L3Harris Technologies

In other news, insider Samir Mehta sold 5,528 shares of the firm’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $370.32, for a total transaction of $2,047,128.96. Following the completion of the transaction, the insider owned 7,756 shares of the company’s stock, valued at approximately $2,872,201.92. This trade represents a 41.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jon Rambeau sold 5,528 shares of the firm’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $370.32, for a total value of $2,047,128.96. Following the transaction, the insider directly owned 7,660 shares of the company’s stock, valued at approximately $2,836,651.20. This represents a 41.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 19,025 shares of company stock valued at $6,824,370. 0.72% of the stock is currently owned by insiders.

L3Harris Technologies Profile

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.