Private Trust Co. NA Has $232,000 Position in L3Harris Technologies, Inc. (NYSE:LHX)

Private Trust Co. NA lessened its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 21.5% in the third quarter, according to its most recent filing with the SEC. The firm owned 977 shares of the company’s stock after selling 268 shares during the period. Private Trust Co. NA’s holdings in L3Harris Technologies were worth $232,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. OneDigital Investment Advisors LLC boosted its stake in L3Harris Technologies by 0.5% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 7,915 shares of the company’s stock worth $1,883,000 after acquiring an additional 40 shares during the last quarter. Koshinski Asset Management Inc. boosted its position in shares of L3Harris Technologies by 2.7% during the third quarter. Koshinski Asset Management Inc. now owns 1,620 shares of the company’s stock worth $385,000 after purchasing an additional 42 shares in the last quarter. RFG Advisory LLC grew its holdings in shares of L3Harris Technologies by 3.1% in the 2nd quarter. RFG Advisory LLC now owns 1,416 shares of the company’s stock valued at $318,000 after buying an additional 43 shares during the period. Blossom Wealth Management increased its position in shares of L3Harris Technologies by 1.7% in the 3rd quarter. Blossom Wealth Management now owns 2,538 shares of the company’s stock valued at $604,000 after buying an additional 43 shares in the last quarter. Finally, Nicholas Hoffman & Company LLC. raised its stake in L3Harris Technologies by 3.3% during the 3rd quarter. Nicholas Hoffman & Company LLC. now owns 1,353 shares of the company’s stock worth $322,000 after buying an additional 43 shares during the period. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Down 0.1 %

NYSE:LHX opened at $245.33 on Friday. The firm has a market capitalization of $46.53 billion, a price-to-earnings ratio of 38.76, a price-to-earnings-growth ratio of 2.01 and a beta of 0.72. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. L3Harris Technologies, Inc. has a twelve month low of $187.68 and a twelve month high of $265.74. The stock’s 50 day moving average price is $245.96 and its two-hundred day moving average price is $233.88.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.27 by $0.07. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The firm had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.28 billion. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.19 earnings per share. Equities research analysts expect that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date is Monday, November 18th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 73.30%.

Insider Buying and Selling at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total transaction of $731,103.84. Following the transaction, the insider now directly owns 13,328 shares of the company’s stock, valued at approximately $3,261,095.04. The trade was a 18.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 8,964 shares of company stock worth $2,179,119 over the last 90 days. Company insiders own 0.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Bank of America raised L3Harris Technologies from a “neutral” rating to a “buy” rating and boosted their target price for the company from $240.00 to $300.00 in a research note on Thursday, October 31st. Truist Financial increased their target price on L3Harris Technologies from $293.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Argus raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price target on the stock in a research note on Tuesday. Morgan Stanley downgraded shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $275.00 to $257.00 in a research report on Friday, August 9th. Finally, Citigroup boosted their price objective on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, L3Harris Technologies has an average rating of “Moderate Buy” and an average price target of $269.67.

L3Harris Technologies Company 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.