Smithfield Trust Co Sells 274 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Smithfield Trust Co lessened its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 10.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,288 shares of the company’s stock after selling 274 shares during the period. Smithfield Trust Co’s holdings in L3Harris Technologies were worth $482,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of LHX. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of L3Harris Technologies in the 4th quarter valued at $27,000. Archer Investment Corp increased its stake in shares of L3Harris Technologies by 48.9% in the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after acquiring an additional 43 shares in the last quarter. Roxbury Financial LLC bought a new stake in shares of L3Harris Technologies in the 4th quarter valued at $30,000. Kennebec Savings Bank bought a new stake in shares of L3Harris Technologies in the 3rd quarter valued at $36,000. Finally, Union Bancaire Privee UBP SA bought a new position in shares of L3Harris Technologies during the 4th quarter worth about $33,000. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Trading Up 1.8 %

Shares of LHX stock opened at $210.84 on Thursday. L3Harris Technologies, Inc. has a 52-week low of $193.09 and a 52-week high of $265.74. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. The company has a 50-day simple moving average of $208.77 and a two-hundred day simple moving average of $227.82. The company has a market capitalization of $39.70 billion, a price-to-earnings ratio of 26.79, a PEG ratio of 2.42 and a beta of 0.74.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, January 30th. The company reported $3.47 EPS for the quarter, topping analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. Research analysts anticipate that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be given a dividend of $1.20 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.80 annualized dividend and a yield of 2.28%. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.16. L3Harris Technologies’s dividend payout ratio is presently 60.99%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on LHX. Sanford C. Bernstein raised shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and cut their price objective for the stock from $289.00 to $267.00 in a research report on Wednesday, January 8th. Citigroup decreased their price objective on L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating for the company in a report on Monday, February 10th. Barclays decreased their price objective on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a report on Monday, January 6th. JPMorgan Chase & Co. decreased their price objective on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Finally, UBS Group raised their price objective on shares of L3Harris Technologies from $228.00 to $237.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $261.47.

Insider Activity at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,373 shares of L3Harris Technologies stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $210.06, for a total value of $288,412.38. Following the sale, the insider now owns 5,049 shares of the company’s stock, valued at approximately $1,060,592.94. The trade was a 21.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 4,901 shares of company stock worth $1,059,757. 0.87% of the stock is owned by company insiders.

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.