L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by First City Capital Management Inc.

First City Capital Management Inc. reduced its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 1.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,615 shares of the company’s stock after selling 50 shares during the period. First City Capital Management Inc.’s holdings in L3Harris Technologies were worth $550,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in LHX. Central Pacific Bank Trust Division grew its holdings in L3Harris Technologies by 23.0% in the 4th quarter. Central Pacific Bank Trust Division now owns 984 shares of the company’s stock worth $207,000 after buying an additional 184 shares in the last quarter. GAMMA Investing LLC grew its holdings in L3Harris Technologies by 26.4% during the fourth quarter. GAMMA Investing LLC now owns 2,790 shares of the company’s stock worth $587,000 after acquiring an additional 582 shares during the period. Versant Capital Management Inc grew its stake in shares of L3Harris Technologies by 133.7% in the 4th quarter. Versant Capital Management Inc now owns 472 shares of the company’s stock worth $99,000 after purchasing an additional 270 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of L3Harris Technologies by 29.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock valued at $184,245,000 after acquiring an additional 178,407 shares during the last quarter. Finally, Independent Solutions Wealth Management LLC acquired a new position in L3Harris Technologies in the 3rd quarter worth approximately $250,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on LHX. Wells Fargo & Company lowered their target price on L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 11th. Bank of America upgraded L3Harris Technologies from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $240.00 to $300.00 in a report on Thursday, October 31st. StockNews.com upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Citigroup raised 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. Finally, Wolfe Research raised shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective for the company in a research note on Thursday, October 10th. Five analysts have rated the stock with a hold rating and eleven have given 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 $267.73.

L3Harris Technologies Stock Up 1.2 %

Shares of LHX traded up $2.42 during midday trading on Friday, hitting $209.78. The stock had a trading volume of 434,296 shares, compared to its average volume of 689,704. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87. The firm has a market cap of $39.79 billion, a price-to-earnings ratio of 33.14, a price-to-earnings-growth ratio of 1.86 and a beta of 0.72. L3Harris Technologies, Inc. has a twelve month low of $200.18 and a twelve month high of $265.74. The company has a 50 day simple moving average of $236.03 and a two-hundred day simple moving average of $233.94.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, October 24th. The company reported $3.34 EPS for the quarter, beating analysts’ consensus estimates of $3.27 by $0.07. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The company had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.28 billion. During the same quarter last year, the firm posted $3.19 EPS. The company’s quarterly revenue was up 7.7% on a year-over-year basis. On average, analysts anticipate that L3Harris Technologies, Inc. will post 13.09 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Monday, November 18th were issued a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend was Monday, November 18th. L3Harris Technologies’s payout ratio is 73.30%.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Ross Niebergall sold 1,373 shares of the firm’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $210.06, for a total transaction of $288,412.38. Following the completion of the transaction, the insider now owns 5,049 shares of the company’s stock, valued at approximately $1,060,592.94. This trade represents a 21.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 7,889 shares of company stock valued at $1,800,572 in the last three months. 0.82% of the stock is currently owned by company insiders.

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.