L3Harris Technologies, Inc. (NYSE:LHX) Position Cut by City Holding Co.

City Holding Co. decreased its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 8.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 7,691 shares of the company’s stock after selling 743 shares during the quarter. City Holding Co.’s holdings in L3Harris Technologies were worth $1,829,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of LHX. Atwood & Palmer Inc. grew its position in L3Harris Technologies by 6.4% in the 3rd quarter. Atwood & Palmer Inc. now owns 60,616 shares of the company’s stock worth $14,419,000 after purchasing an additional 3,640 shares during the last quarter. Mather Group LLC. raised its holdings in shares of L3Harris Technologies by 29.9% during the third quarter. Mather Group LLC. now owns 755 shares of the company’s stock valued at $180,000 after buying an additional 174 shares during the last quarter. Fragasso Financial Advisors Inc boosted its position in shares of L3Harris Technologies by 4.8% during the third quarter. Fragasso Financial Advisors Inc now owns 23,079 shares of the company’s stock worth $5,490,000 after buying an additional 1,062 shares during the period. IAM Advisory LLC grew its holdings in L3Harris Technologies by 1.8% in the 3rd quarter. IAM Advisory LLC now owns 8,297 shares of the company’s stock worth $1,974,000 after buying an additional 147 shares in the last quarter. Finally, Herbst Group LLC increased its position in L3Harris Technologies by 2.6% in the 3rd quarter. Herbst Group LLC now owns 10,185 shares of the company’s stock valued at $2,423,000 after acquiring an additional 260 shares during the period. Institutional investors own 84.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on LHX shares. Deutsche Bank Aktiengesellschaft reduced their price target on L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Susquehanna upped their price objective on shares of L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a report on Monday, July 29th. Barclays raised their target price on shares of L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Wells Fargo & Company reduced their price target 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. Finally, Morgan Stanley cut shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $275.00 to $257.00 in a report on Friday, August 9th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $246.54.

Insider Buying and Selling at L3Harris Technologies

In other news, SVP Scott T. Mikuen sold 15,887 shares of L3Harris Technologies stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $235.00, for a total value of $3,733,445.00. Following the transaction, the senior vice president now directly owns 47,616 shares of the company’s stock, valued at $11,189,760. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, SVP Scott T. Mikuen sold 15,887 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $235.00, for a total value of $3,733,445.00. Following the completion of the sale, the senior vice president now owns 47,616 shares in the company, valued at $11,189,760. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $244.68, for a total value of $731,103.84. Following the transaction, the insider now owns 13,328 shares in the company, valued at $3,261,095.04. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,390 shares of company stock valued at $7,592,959. 0.82% of the stock is currently owned by corporate insiders.

L3Harris Technologies Trading Down 0.3 %

L3Harris Technologies stock opened at $241.15 on Wednesday. The firm has a market cap of $45.74 billion, a price-to-earnings ratio of 39.15, a price-to-earnings-growth ratio of 2.04 and a beta of 0.73. L3Harris Technologies, Inc. has a 1 year low of $169.55 and a 1 year high of $247.33. The firm’s 50 day moving average price is $231.96 and its two-hundred day moving average price is $223.86. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.74 and a current ratio of 0.90.

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

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were issued a dividend of $1.16 per share. The ex-dividend date was Friday, September 6th. This represents a $4.64 annualized dividend and a yield of 1.92%. L3Harris Technologies’s payout ratio is presently 75.32%.

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.