BTC Capital Management Inc. Sells 1,949 Shares of L3Harris Technologies Inc $LHX

BTC Capital Management Inc. cut its stake in L3Harris Technologies Inc (NYSE:LHX) by 6.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 27,869 shares of the company’s stock after selling 1,949 shares during the period. BTC Capital Management Inc.’s holdings in L3Harris Technologies were worth $8,190,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Caitlin John LLC acquired a new position in shares of L3Harris Technologies during the third quarter worth about $28,000. JPL Wealth Management LLC acquired a new stake in L3Harris Technologies in the 3rd quarter valued at approximately $29,000. Triumph Capital Management bought a new stake in L3Harris Technologies in the 3rd quarter valued at approximately $31,000. GGM Financials LLC bought a new stake in L3Harris Technologies in the 3rd quarter valued at approximately $32,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in L3Harris Technologies during the 2nd quarter worth approximately $34,000. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

NYSE:LHX opened at $344.96 on Wednesday. The company has a quick ratio of 1.02, a current ratio of 1.19 and a debt-to-equity ratio of 0.53. The stock’s 50 day moving average price is $354.10 and its two-hundred day moving average price is $315.70. The firm has a market capitalization of $64.43 billion, a price-to-earnings ratio of 40.44, a P/E/G ratio of 2.45 and a beta of 0.63. L3Harris Technologies Inc has a 12-month low of $195.72 and a 12-month high of $379.23.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.76 by $0.10. The company had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.76 billion. L3Harris Technologies had a return on equity of 10.43% and a net margin of 7.35%.The business’s revenue was up 2.3% on a year-over-year basis. During the same period last year, the firm posted $3.47 earnings per share. On average, analysts anticipate that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Friday, March 6th were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, March 6th. This represents a $5.00 annualized dividend and a yield of 1.4%. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.20. L3Harris Technologies’s payout ratio is 58.62%.

Analyst Ratings Changes

LHX has been the subject of several research reports. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of L3Harris Technologies in a research note on Friday, February 6th. Susquehanna restated a “positive” rating on shares of L3Harris Technologies in a report on Thursday, January 15th. Royal Bank Of Canada raised their target price on shares of L3Harris Technologies from $360.00 to $365.00 and gave the company a “sector perform” rating in a research report on Friday, January 30th. Truist Financial set a $364.00 price target on shares of L3Harris Technologies in a research note on Wednesday, January 14th. Finally, Vertical Research reissued a “buy” rating and set a $355.00 price target on shares of L3Harris Technologies in a research report on Tuesday, January 13th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $334.62.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Jon Rambeau sold 5,528 shares of the company’s stock in a transaction on Monday, March 2nd. The shares were 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 in the company, valued at $2,836,651.20. The trade was a 41.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Melanie Rakita sold 2,378 shares of the stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $341.45, for a total transaction of $811,968.10. Following the completion of the transaction, the vice president directly owned 4,882 shares in the company, valued at $1,666,958.90. The trade was a 32.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 19,025 shares of company stock valued at $6,824,370 over the last ninety days. 0.72% of the stock is currently owned by company insiders.

L3Harris Technologies Company 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.