Canandaigua National Bank & Trust Co. Sells 4,391 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Canandaigua National Bank & Trust Co. lowered its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 37.6% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 7,279 shares of the company’s stock after selling 4,391 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in L3Harris Technologies were worth $1,551,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Transcendent Capital Group LLC bought a new stake in L3Harris Technologies during the fourth quarter worth $28,000. KB Financial Partners LLC grew its holdings in L3Harris Technologies by 96.5% during the third quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock worth $29,000 after buying an additional 82 shares in the last quarter. Blue Trust Inc. grew its holdings in L3Harris Technologies by 178.7% during the fourth quarter. Blue Trust Inc. now owns 170 shares of the company’s stock worth $36,000 after buying an additional 109 shares in the last quarter. Washington Trust Advisors Inc. grew its holdings in L3Harris Technologies by 80.6% during the fourth quarter. Washington Trust Advisors Inc. now owns 177 shares of the company’s stock worth $37,000 after buying an additional 79 shares in the last quarter. Finally, Bruce G. Allen Investments LLC bought a new position in L3Harris Technologies in the 4th quarter valued at $46,000. Institutional investors own 84.76% of the company’s stock.

Insider Buying and Selling

In other L3Harris Technologies news, VP Sean J. Stackley sold 3,354 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $218.00, for a total value of $731,172.00. Following the sale, the vice president now owns 17,540 shares of the company’s stock, valued at approximately $3,823,720. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Christopher E. Kubasik sold 26,190 shares of the stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $225.70, for a total transaction of $5,911,083.00. Following the transaction, the chief executive officer now directly owns 120,326 shares in the company, valued at approximately $27,157,578.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Sean J. Stackley sold 3,354 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $218.00, for a total value of $731,172.00. Following the transaction, the vice president now owns 17,540 shares in the company, valued at $3,823,720. The disclosure for this sale can be found here. In the last quarter, insiders have sold 122,898 shares of company stock valued at $27,046,967. Corporate insiders own 0.87% of the company’s stock.

L3Harris Technologies Stock Performance

Shares of LHX opened at $222.44 on Wednesday. The stock’s 50-day simple moving average is $216.28 and its 200 day simple moving average is $211.46. The stock has a market capitalization of $42.19 billion, a price-to-earnings ratio of 36.11, a price-to-earnings-growth ratio of 1.85 and a beta of 0.71. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.80 and a current ratio of 0.98. L3Harris Technologies, Inc. has a 52-week low of $160.25 and a 52-week high of $226.99.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, April 25th. The company reported $3.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.89 by $0.17. The business had revenue of $5.21 billion for the quarter, compared to analysts’ expectations of $5.11 billion. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The firm’s quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.86 EPS. Research analysts forecast that L3Harris Technologies, Inc. will post 12.89 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th were issued a dividend of $1.16 per share. The ex-dividend date was Tuesday, June 4th. This represents a $4.64 dividend on an annualized basis and a yield of 2.09%. L3Harris Technologies’s dividend payout ratio (DPR) is 75.32%.

Analyst Upgrades and Downgrades

LHX has been the subject of a number of recent analyst reports. Barclays upped their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. JPMorgan Chase & Co. upped their price objective on L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Royal Bank of Canada upped their price objective on L3Harris Technologies from $245.00 to $250.00 and gave the company an “outperform” rating in a research note on Monday, April 29th. Wells Fargo & Company upped their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research note on Tuesday, May 7th. Finally, Alembic Global Advisors upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price objective for the company in a research note on Monday, April 22nd. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $231.80.

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.