L3Harris Technologies Inc $LHX Shares Purchased by Whittier Trust Co.

Whittier Trust Co. raised its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 6.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 868 shares of the company’s stock after purchasing an additional 50 shares during the period. Whittier Trust Co.’s holdings in L3Harris Technologies were worth $218,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LHX. Clearstead Trust LLC acquired a new position in L3Harris Technologies during the 1st quarter valued at about $26,000. Nova Wealth Management Inc. acquired a new stake in shares of L3Harris Technologies in the 1st quarter worth approximately $26,000. Kiker Wealth Management LLC lifted its stake in shares of L3Harris Technologies by 137.0% in the 2nd quarter. Kiker Wealth Management LLC now owns 109 shares of the company’s stock worth $27,000 after acquiring an additional 63 shares during the period. Harbor Asset Planning Inc. acquired a new stake in shares of L3Harris Technologies in the 2nd quarter worth approximately $32,000. Finally, Independence Bank of Kentucky lifted its stake in shares of L3Harris Technologies by 44.4% in the 2nd quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock worth $33,000 after acquiring an additional 40 shares during the period. 84.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Christopher E. Kubasik sold 83,000 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $279.90, for a total transaction of $23,231,700.00. Following the sale, the chief executive officer owned 145,578 shares in the company, valued at $40,747,282.20. The trade was a 36.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 195,138 shares of company stock worth $53,571,774 in the last quarter. 0.72% of the stock is owned by insiders.

L3Harris Technologies Stock Down 0.0%

NYSE LHX opened at $293.22 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 0.87. The company’s 50 day simple moving average is $285.35 and its 200 day simple moving average is $258.41. L3Harris Technologies Inc has a 12 month low of $193.09 and a 12 month high of $308.12. The company has a market capitalization of $54.86 billion, a P/E ratio of 32.76, a PEG ratio of 2.14 and a beta of 0.76.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, July 24th. The company reported $2.78 EPS for the quarter, topping analysts’ consensus estimates of $2.48 by $0.30. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The business had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.31 billion. During the same period in the previous year, the firm earned $3.24 EPS. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. Equities research analysts expect that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Monday, November 17th will be issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Monday, November 17th. L3Harris Technologies’s payout ratio is presently 53.63%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of L3Harris Technologies in a research note on Monday, July 14th. Wall Street Zen raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Friday, August 22nd. Barclays upped their price target on shares of L3Harris Technologies from $255.00 to $305.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 29th. Morgan Stanley upped their price target on shares of L3Harris Technologies from $250.00 to $350.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 15th. Finally, Citigroup upped their price target on shares of L3Harris Technologies from $300.00 to $323.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Thirteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $287.63.

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.