Truist Financial Corp Has $29.99 Million Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Truist Financial Corp boosted its position in L3Harris Technologies, Inc. (NYSE:LHX) by 19.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 133,536 shares of the company’s stock after buying an additional 21,529 shares during the quarter. Truist Financial Corp owned approximately 0.07% of L3Harris Technologies worth $29,990,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LHX. Eagle Asset Management Inc. bought a new stake in L3Harris Technologies during the fourth quarter worth $224,000. KBC Group NV boosted its holdings in L3Harris Technologies by 15.2% in the 4th quarter. KBC Group NV now owns 17,050 shares of the company’s stock valued at $3,591,000 after purchasing an additional 2,248 shares during the period. The Manufacturers Life Insurance Company raised its stake in L3Harris Technologies by 4.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 272,231 shares of the company’s stock valued at $57,337,000 after purchasing an additional 11,500 shares in the last quarter. NEOS Investment Management LLC raised its position in L3Harris Technologies by 77.3% during the fourth quarter. NEOS Investment Management LLC now owns 2,691 shares of the company’s stock valued at $567,000 after purchasing an additional 1,173 shares in the last quarter. Finally, Rafferty Asset Management LLC raised its holdings in shares of L3Harris Technologies by 2.7% during the 4th quarter. Rafferty Asset Management LLC now owns 42,443 shares of the company’s stock worth $8,939,000 after buying an additional 1,133 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $236.68, for a total value of $707,199.84. Following the completion of the transaction, the insider now directly owns 16,316 shares in the company, valued at $3,861,670.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Ross Niebergall sold 2,988 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $236.68, for a total transaction of $707,199.84. Following the completion of the transaction, the insider now owns 16,316 shares of the company’s stock, valued at $3,861,670.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Scott T. Mikuen sold 10,527 shares of L3Harris Technologies stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $230.00, for a total transaction of $2,421,210.00. Following the sale, the senior vice president now directly owns 47,616 shares of the company’s stock, valued at $10,951,680. The disclosure for this sale can be found here. Insiders sold 29,402 shares of company stock valued at $6,861,855 over the last three months. Company insiders own 0.82% of the company’s stock.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock opened at $244.66 on Thursday. The business’s fifty day simple moving average is $231.34 and its 200 day simple moving average is $223.13. The company has a current ratio of 0.90, a quick ratio of 0.74 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $46.41 billion, a P/E ratio of 39.72, a price-to-earnings-growth ratio of 2.04 and a beta of 0.73. L3Harris Technologies, Inc. has a 12 month low of $160.25 and a 12 month high of $247.33.

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

L3Harris Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were issued a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend was Friday, September 6th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Wells Fargo & Company dropped their price objective on shares of L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Morgan Stanley lowered shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $275.00 to $257.00 in a research note on Friday, August 9th. Royal Bank of Canada cut L3Harris Technologies from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $250.00 to $240.00 in a research note on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating and lifted their price target for the company from $245.00 to $257.00 in a research note on Friday, July 26th. Finally, 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. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $247.08.

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.