First Citizens Bank & Trust Co. Sells 111 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

First Citizens Bank & Trust Co. lessened its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 1.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,832 shares of the company’s stock after selling 111 shares during the period. First Citizens Bank & Trust Co.’s holdings in L3Harris Technologies were worth $2,577,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. NBC Securities Inc. boosted its holdings in shares of L3Harris Technologies by 33.5% in the 1st quarter. NBC Securities Inc. now owns 566 shares of the company’s stock valued at $121,000 after purchasing an additional 142 shares in the last quarter. Mather Group LLC. acquired a new stake in L3Harris Technologies in the first quarter valued at about $123,000. Park Avenue Securities LLC grew its position in L3Harris Technologies by 20.9% in the first quarter. Park Avenue Securities LLC now owns 4,878 shares of the company’s stock valued at $1,040,000 after acquiring an additional 843 shares during the last quarter. RFG Advisory LLC bought a new position in shares of L3Harris Technologies in the first quarter worth about $293,000. Finally, &PARTNERS acquired a new stake in shares of L3Harris Technologies in the 1st quarter valued at approximately $299,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analysts Set New Price Targets

LHX has been the subject of a number of research analyst reports. Barclays upped their price objective on shares of L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Royal Bank of Canada cut L3Harris Technologies from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $250.00 to $240.00 in a research note on Wednesday, August 14th. Susquehanna boosted their price objective on L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research report on Monday, July 29th. Citigroup increased their target price on L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, Wells Fargo & Company reduced their price target on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $256.71.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $236.68, for a total transaction of $707,199.84. Following the completion of the sale, the insider now owns 16,316 shares of the company’s stock, valued at $3,861,670.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.82% of the company’s stock.

L3Harris Technologies Stock Up 0.2 %

Shares of NYSE LHX opened at $248.78 on Friday. The company’s 50 day moving average price is $235.12 and its 200-day moving average price is $225.96. 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, Inc. has a 52-week low of $169.55 and a 52-week high of $249.16. The company has a market capitalization of $47.19 billion, a P/E ratio of 40.39, a price-to-earnings-growth ratio of 2.08 and a beta of 0.73.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, July 25th. The company reported $3.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.18 by $0.06. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The business had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.30 billion. During the same quarter in the previous year, the business earned $2.97 earnings per share. L3Harris Technologies’s revenue for the quarter was up 12.9% on a year-over-year basis. Equities analysts forecast that L3Harris Technologies, Inc. will post 13.06 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be issued a $1.16 dividend. The ex-dividend date is Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a yield of 1.87%. L3Harris Technologies’s 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.