Town & Country Bank & Trust CO dba First Bankers Trust CO Lowers Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Town & Country Bank & Trust CO dba First Bankers Trust CO cut its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 0.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,426 shares of the company’s stock after selling 116 shares during the period. L3Harris Technologies accounts for 1.3% of Town & Country Bank & Trust CO dba First Bankers Trust CO’s holdings, making the stock its 24th biggest position. Town & Country Bank & Trust CO dba First Bankers Trust CO’s holdings in L3Harris Technologies were worth $3,432,000 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 the company. Vanguard Group Inc. boosted its holdings in L3Harris Technologies by 12.9% during the first quarter. Vanguard Group Inc. now owns 22,792,779 shares of the company’s stock worth $4,857,141,000 after buying an additional 2,606,267 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in L3Harris Technologies by 0.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,631,207 shares of the company’s stock worth $2,052,411,000 after buying an additional 45,845 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in L3Harris Technologies by 19.7% during the second quarter. Bank of New York Mellon Corp now owns 3,174,181 shares of the company’s stock worth $712,858,000 after buying an additional 523,315 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in L3Harris Technologies by 3.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,108,596 shares of the company’s stock worth $449,342,000 after buying an additional 66,770 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. boosted its holdings in L3Harris Technologies by 2.2% during the second quarter. Diamond Hill Capital Management Inc. now owns 1,489,129 shares of the company’s stock worth $334,429,000 after buying an additional 31,686 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Barclays increased their price objective on shares of L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Wells Fargo & Company dropped their target price on shares of L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Morgan Stanley lowered shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $275.00 to $257.00 in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a research report on Thursday, October 3rd. Finally, Susquehanna lifted their target price on shares of L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research report on Monday, July 29th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $253.64.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $236.68, for a total transaction of $707,199.84. Following the transaction, the insider now directly owns 16,316 shares of the company’s stock, valued at $3,861,670.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.82% of the stock is owned by insiders.

L3Harris Technologies Stock Performance

LHX opened at $248.19 on Thursday. The firm has a market capitalization of $47.08 billion, a PE ratio of 40.29, a PEG ratio of 2.08 and a beta of 0.73. L3Harris Technologies, Inc. has a twelve month low of $169.55 and a twelve month high of $249.00. The firm’s 50-day moving average price is $234.35 and its 200 day moving average price is $225.37. The company has a current ratio of 0.90, a quick ratio of 0.74 and a debt-to-equity ratio of 0.56.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, July 25th. The company reported $3.24 EPS for the quarter, topping analysts’ consensus estimates of $3.18 by $0.06. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The company had revenue of $5.30 billion for the quarter, compared to the consensus estimate of $5.30 billion. During the same period in the previous year, the firm earned $2.97 earnings per share. L3Harris Technologies’s quarterly revenue was up 12.9% compared to the same quarter last year. As a group, sell-side analysts expect that L3Harris Technologies, Inc. will post 13.06 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be paid a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 1.87%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

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.