Trust Co of the South Makes New Investment in L3Harris Technologies, Inc. (NYSE:LHX)

Trust Co of the South purchased a new position in L3Harris Technologies, Inc. (NYSE:LHX) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,343 shares of the company’s stock, valued at approximately $283,000.

Several other institutional investors have also modified their holdings of LHX. State Street Corp grew its stake in shares of L3Harris Technologies by 1.2% during the second quarter. State Street Corp now owns 8,795,513 shares of the company’s stock worth $1,721,898,000 after purchasing an additional 104,323 shares in the last quarter. Geode Capital Management LLC lifted its position in L3Harris Technologies by 1.0% in the first quarter. Geode Capital Management LLC now owns 3,556,352 shares of the company’s stock valued at $696,145,000 after acquiring an additional 34,726 shares during the last quarter. Morgan Stanley lifted its position in L3Harris Technologies by 1.9% in the third quarter. Morgan Stanley now owns 2,507,948 shares of the company’s stock valued at $436,684,000 after acquiring an additional 47,691 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in L3Harris Technologies by 5.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,959,403 shares of the company’s stock valued at $341,171,000 after acquiring an additional 101,507 shares during the last quarter. Finally, Norges Bank purchased a new stake in L3Harris Technologies in the fourth quarter valued at $342,413,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating and boosted their price target for the company from $184.00 to $240.00 in a research report on Friday, December 15th. JPMorgan Chase & Co. raised shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 price target for the company in a research report on Thursday, January 11th. Wells Fargo & Company reduced their price target on shares of L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating for the company in a research report on Tuesday, January 30th. Royal Bank of Canada boosted their price target on shares of L3Harris Technologies from $235.00 to $245.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. Finally, UBS Group upped their target price on shares of L3Harris Technologies from $222.00 to $229.00 and gave the company a “neutral” rating in a report on Monday, January 29th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $229.00.

L3Harris Technologies Stock Performance

NYSE:LHX traded up $1.74 during mid-day trading on Wednesday, reaching $212.87. The stock had a trading volume of 91,012 shares, compared to its average volume of 1,108,255. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.82 and a current ratio of 1.01. The firm has a market capitalization of $40.47 billion, a price-to-earnings ratio of 32.78, a PEG ratio of 1.97 and a beta of 0.65. L3Harris Technologies, Inc. has a twelve month low of $160.25 and a twelve month high of $218.34. The business has a 50 day simple moving average of $210.63 and a 200 day simple moving average of $195.68.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Friday, January 26th. The company reported $3.35 EPS for the quarter, beating analysts’ consensus estimates of $3.31 by $0.04. L3Harris Technologies had a net margin of 6.32% and a return on equity of 12.68%. The firm had revenue of $5.34 billion during the quarter, compared to the consensus estimate of $5.28 billion. During the same quarter last year, the firm earned $3.27 earnings per share. The firm’s revenue was up 16.6% compared to the same quarter last year. On average, analysts expect that L3Harris Technologies, Inc. will post 12.73 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were issued a $1.16 dividend. The ex-dividend date was Thursday, March 7th. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.14. This represents a $4.64 dividend on an annualized basis and a yield of 2.18%. L3Harris Technologies’s dividend payout ratio (DPR) is 72.05%.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, SVP Scott T. Mikuen sold 1,292 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $211.14, for a total value of $272,792.88. Following the completion of the transaction, the senior vice president now directly owns 58,617 shares of the company’s stock, valued at $12,376,393.38. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, SVP Scott T. Mikuen sold 3,363 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $212.86, for a total transaction of $715,848.18. Following the completion of the transaction, the senior vice president now directly owns 55,254 shares of the company’s stock, valued at approximately $11,761,366.44. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Scott T. Mikuen sold 1,292 shares of the firm’s stock in a transaction that occurred on 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 $12,376,393.38. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,362 shares of company stock valued at $1,772,560. Corporate insiders own 0.87% 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.