L3Harris Technologies, Inc. (NYSE:LHX) Shares Acquired by First National Trust Co

First National Trust Co raised its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 0.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,084 shares of the company’s stock after purchasing an additional 173 shares during the quarter. First National Trust Co’s holdings in L3Harris Technologies were worth $6,442,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of LHX. Wealth Enhancement Advisory Services LLC grew its position in shares of L3Harris Technologies by 17.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 43,838 shares of the company’s stock worth $9,845,000 after buying an additional 6,634 shares in the last quarter. Edgestream Partners L.P. grew its holdings in L3Harris Technologies by 151.6% during the 1st quarter. Edgestream Partners L.P. now owns 3,859 shares of the company’s stock worth $822,000 after acquiring an additional 2,325 shares in the last quarter. Creative Planning increased its position in shares of L3Harris Technologies by 1.2% in the 3rd quarter. Creative Planning now owns 41,588 shares of the company’s stock worth $9,893,000 after purchasing an additional 512 shares during the last quarter. Manning & Napier Advisors LLC acquired a new stake in shares of L3Harris Technologies in the 2nd quarter valued at about $210,886,000. Finally, Janney Montgomery Scott LLC bought a new position in shares of L3Harris Technologies during the third quarter worth about $35,904,000. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Susquehanna boosted their price objective on L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a report on Monday, July 29th. Wells Fargo & Company boosted their price target on L3Harris Technologies from $260.00 to $295.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Bank of America raised shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $240.00 to $300.00 in a report on Thursday, October 31st. Citigroup increased their target price on shares of L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a research report on Thursday, October 3rd. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $267.50.

L3Harris Technologies Stock Performance

Shares of LHX stock opened at $264.25 on Tuesday. The business has a 50 day simple moving average of $241.43 and a 200 day simple moving average of $231.15. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87. The firm has a market capitalization of $50.12 billion, a price-to-earnings ratio of 41.75, a price-to-earnings-growth ratio of 2.17 and a beta of 0.72. L3Harris Technologies, Inc. has a 12-month low of $182.01 and a 12-month high of $265.74.

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

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be issued a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend is Monday, November 18th. L3Harris Technologies’s payout ratio is currently 73.30%.

Insiders Place Their Bets

In other news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $244.68, for a total value of $731,103.84. Following the transaction, the insider now owns 13,328 shares of the company’s stock, valued at $3,261,095.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Over the last three months, insiders have sold 8,964 shares of company stock worth $2,179,119. 0.82% of the stock is owned by corporate insiders.

About L3Harris Technologies

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.