Greenfield Savings Bank Cuts Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Greenfield Savings Bank cut its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 5.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 2,576 shares of the company’s stock after selling 159 shares during the quarter. Greenfield Savings Bank’s holdings in L3Harris Technologies were worth $542,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. KCM Investment Advisors LLC increased its holdings in shares of L3Harris Technologies by 43.8% in the third quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company’s stock valued at $4,584,000 after purchasing an additional 5,868 shares during the period. Fortem Financial Group LLC purchased a new stake in shares of L3Harris Technologies in the 3rd quarter worth about $841,000. Sanctuary Advisors LLC lifted its position in shares of L3Harris Technologies by 13.9% in the third quarter. Sanctuary Advisors LLC now owns 30,634 shares of the company’s stock valued at $7,602,000 after acquiring an additional 3,740 shares in the last quarter. Principal Financial Group Inc. increased its stake in L3Harris Technologies by 2.0% in the third quarter. Principal Financial Group Inc. now owns 220,269 shares of the company’s stock valued at $52,395,000 after purchasing an additional 4,321 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of L3Harris Technologies by 29.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock worth $184,245,000 after buying an additional 178,407 shares during the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Ross Niebergall sold 1,764 shares of L3Harris Technologies 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 completion of the transaction, the insider now owns 8,576 shares in the company, valued at approximately $1,917,765.12. This trade represents a 17.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders sold 7,889 shares of company stock valued at $1,800,572. Company insiders own 0.82% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on LHX shares. Royal Bank of Canada upped their target price on L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a research report on Monday, October 28th. Citigroup upped their target price on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Wolfe Research raised L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective for the company in a research report on Thursday, October 10th. Barclays dropped their price objective on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Finally, Wells Fargo & Company dropped their target price on shares of L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating for the company in a report on Wednesday, December 11th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $266.31.

L3Harris Technologies Price Performance

LHX opened at $213.85 on Tuesday. The firm has a market cap of $40.56 billion, a price-to-earnings ratio of 33.78, a PEG ratio of 1.86 and a beta of 0.75. L3Harris Technologies, Inc. has a 12-month low of $200.18 and a 12-month high of $265.74. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58. The stock’s 50-day moving average price is $230.43 and its 200 day moving average price is $233.30.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.27 by $0.07. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The firm had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same quarter last year, the company posted $3.19 earnings per share. The business’s revenue was up 7.7% on a year-over-year basis. As a group, sell-side analysts expect that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Monday, November 18th were paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date was Monday, November 18th. L3Harris Technologies’s dividend payout ratio is presently 73.30%.

L3Harris Technologies 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.