L3Harris Technologies, Inc. (NYSE:LHX) Shares Acquired by Wesbanco Bank Inc.

Wesbanco Bank Inc. increased its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 62.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,784 shares of the company’s stock after purchasing an additional 2,611 shares during the period. Wesbanco Bank Inc.’s holdings in L3Harris Technologies were worth $1,614,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Fiduciary Alliance LLC purchased a new position in shares of L3Harris Technologies in the third quarter valued at approximately $472,000. Novare Capital Management LLC raised its stake in L3Harris Technologies by 7.1% in the 3rd quarter. Novare Capital Management LLC now owns 43,246 shares of the company’s stock valued at $10,287,000 after purchasing an additional 2,868 shares during the last quarter. Paladin Wealth LLC purchased a new position in L3Harris Technologies in the 3rd quarter valued at $151,000. Thurston Springer Miller Herd & Titak Inc. boosted its stake in L3Harris Technologies by 13.1% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 5,095 shares of the company’s stock worth $1,212,000 after purchasing an additional 591 shares during the last quarter. Finally, Smith Chas P & Associates PA Cpas purchased a new stake in shares of L3Harris Technologies during the third quarter worth $234,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Trading Down 1.2 %

NYSE LHX opened at $245.30 on Wednesday. L3Harris Technologies, Inc. has a 12 month low of $169.55 and a 12 month high of $249.00. The stock has a market capitalization of $46.53 billion, a P/E ratio of 39.82, a PEG ratio of 2.08 and a beta of 0.73. The firm’s 50-day moving average is $233.93 and its two-hundred day moving average is $225.21. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.90 and a quick ratio of 0.74.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, July 25th. The company reported $3.24 earnings per share for the quarter, topping analysts’ consensus estimates of $3.18 by $0.06. The firm had revenue of $5.30 billion during the quarter, compared to analysts’ expectations of $5.30 billion. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The firm’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter last year, the company posted $2.97 EPS. On average, sell-side analysts anticipate that L3Harris Technologies, Inc. will post 13.06 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were paid a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend was Friday, September 6th. L3Harris Technologies’s payout ratio is 75.32%.

Insiders Place Their Bets

In related news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $244.68, for a total transaction of $731,103.84. Following the sale, the insider now directly owns 13,328 shares of the company’s stock, valued at $3,261,095.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

LHX has been the topic of several research reports. Deutsche Bank Aktiengesellschaft decreased 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 note on Thursday, October 3rd. Royal Bank of Canada cut L3Harris Technologies from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $250.00 to $240.00 in a report on Wednesday, August 14th. Morgan Stanley lowered L3Harris Technologies from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $275.00 to $257.00 in a research report on Friday, August 9th. Barclays lifted their price objective on L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Finally, Wells Fargo & Company dropped their target price on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, L3Harris Technologies currently has an average rating of “Moderate Buy” and an average price target of $253.64.

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.