Horizon Bancorp Inc. IN Has $45,000 Position in L3Harris Technologies, Inc. (NYSE:LHX)

Horizon Bancorp Inc. IN reduced its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 41.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 214 shares of the company’s stock after selling 154 shares during the quarter. Horizon Bancorp Inc. IN’s holdings in L3Harris Technologies were worth $45,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Meeder Asset Management Inc. lifted its position in L3Harris Technologies by 260.6% during the 2nd quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock worth $27,000 after acquiring an additional 86 shares during the last quarter. Archer Investment Corp raised its position in shares of L3Harris Technologies by 48.9% during the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after buying an additional 43 shares during the last quarter. Kennebec Savings Bank acquired a new position in L3Harris Technologies in the third quarter worth about $36,000. Ashton Thomas Private Wealth LLC acquired a new position in L3Harris Technologies in the second quarter worth about $57,000. Finally, Ashton Thomas Securities LLC acquired a new position in L3Harris Technologies in the third quarter worth about $64,000. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

L3Harris Technologies Trading Up 2.7 %

Shares of LHX opened at $213.85 on Tuesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87. L3Harris Technologies, Inc. has a 1 year low of $200.18 and a 1 year high of $265.74. The company has a 50 day simple moving average of $230.43 and a two-hundred day simple moving average of $233.30. The firm has a market cap of $40.56 billion, a P/E ratio of 33.78, a price-to-earnings-growth ratio of 1.86 and a beta of 0.75.

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

L3Harris Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Monday, November 18th were paid a $1.16 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $4.64 annualized dividend and a yield of 2.17%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 73.30%.

Analyst Ratings Changes

Several analysts have recently commented on LHX shares. StockNews.com raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note 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 note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft cut their target price on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a report on Thursday, January 2nd. Royal Bank of Canada raised their price objective on shares of L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. Finally, Sanford C. Bernstein raised shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and decreased their target price for the company from $289.00 to $267.00 in a research report on Wednesday, January 8th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $266.31.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 1,764 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $223.62, for a total value of $394,465.68. Following the completion of the transaction, the insider now directly owns 8,576 shares of the company’s stock, valued at approximately $1,917,765.12. The trade was a 17.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders have sold 7,889 shares of company stock worth $1,800,572. Insiders own 0.82% of the company’s stock.

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.