First National Trust Co Has $1.02 Million Stake in L3Harris Technologies, Inc. (NYSE:LHX)

First National Trust Co grew its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 6.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,837 shares of the company’s stock after buying an additional 276 shares during the period. First National Trust Co’s holdings in L3Harris Technologies were worth $1,019,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in LHX. Mondrian Investment Partners LTD lifted its holdings in L3Harris Technologies by 32,907.5% during the 3rd quarter. Mondrian Investment Partners LTD now owns 380,246 shares of the company’s stock worth $66,208,000 after purchasing an additional 379,094 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in L3Harris Technologies by 53.3% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 853,238 shares of the company’s stock worth $179,709,000 after purchasing an additional 296,654 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in L3Harris Technologies by 22.5% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 1,450,040 shares of the company’s stock worth $252,481,000 after purchasing an additional 266,468 shares during the last quarter. Mizuho Markets Americas LLC acquired a new stake in L3Harris Technologies during the 3rd quarter worth approximately $35,207,000. Finally, Invesco Ltd. lifted its holdings in L3Harris Technologies by 15.3% during the 3rd quarter. Invesco Ltd. now owns 1,459,837 shares of the company’s stock worth $254,187,000 after purchasing an additional 193,690 shares during the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

LHX has been the subject of several research reports. UBS Group lifted their price target on L3Harris Technologies from $222.00 to $229.00 and gave the stock a “neutral” rating in a report on Monday, January 29th. Wells Fargo & Company dropped their price objective on L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating for the company in a report on Tuesday, January 30th. JPMorgan Chase & Co. lifted their price objective on L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday. Raymond James lifted their price objective on L3Harris Technologies from $220.00 to $235.00 and gave the company an “outperform” rating in a report on Monday, January 29th. Finally, StockNews.com cut L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Monday, January 29th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $231.33.

Insider Buying and Selling

In other news, Director William H. Swanson acquired 1,250 shares of L3Harris Technologies stock in a transaction that occurred on Thursday, March 14th. The shares were acquired at an average price of $215.35 per share, for a total transaction of $269,187.50. Following the transaction, the director now directly owns 1,543 shares of the company’s stock, valued at approximately $332,285.05. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other L3Harris Technologies news, SVP Scott T. Mikuen sold 1,292 shares of L3Harris Technologies stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $211.14, for a total transaction of $272,792.88. Following the transaction, the senior vice president now directly owns 58,617 shares of the company’s stock, valued at approximately $12,376,393.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William H. Swanson bought 1,250 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were bought at an average cost of $215.35 per share, for a total transaction of $269,187.50. Following the completion of the acquisition, the director now directly owns 1,543 shares in the company, valued at approximately $332,285.05. The disclosure for this purchase can be found here. Insiders have sold 48,362 shares of company stock worth $10,261,360 in the last 90 days. Insiders own 0.82% of the company’s stock.

L3Harris Technologies Price Performance

Shares of LHX traded up $0.90 during midday trading on Friday, hitting $212.24. The company’s stock had a trading volume of 790,904 shares, compared to its average volume of 1,043,142. The stock has a market capitalization of $40.26 billion, a price-to-earnings ratio of 34.45, a price-to-earnings-growth ratio of 1.88 and a beta of 0.63. L3Harris Technologies, Inc. has a one year low of $160.25 and a one year high of $218.34. The company has a quick ratio of 0.80, a current ratio of 0.98 and a debt-to-equity ratio of 0.59. The company’s fifty day simple moving average is $210.18 and its two-hundred day simple moving average is $202.54.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, April 25th. The company reported $3.06 earnings per share 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 analyst estimates of $5.11 billion. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. L3Harris Technologies’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.86 EPS. As a group, equities analysts expect that L3Harris Technologies, Inc. will post 12.91 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be given a dividend of $1.16 per share. The ex-dividend date is Friday, May 31st. This represents a $4.64 dividend on an annualized basis and a yield of 2.19%. L3Harris Technologies’s dividend payout ratio is currently 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.