American Trust Sells 46 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

American Trust trimmed its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 4.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 922 shares of the company’s stock after selling 46 shares during the period. American Trust’s holdings in L3Harris Technologies were worth $219,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of LHX. OneDigital Investment Advisors LLC raised its stake in shares of L3Harris Technologies by 0.5% during the third quarter. OneDigital Investment Advisors LLC now owns 7,915 shares of the company’s stock worth $1,883,000 after buying an additional 40 shares during the last quarter. Koshinski Asset Management Inc. grew its stake in shares of L3Harris Technologies by 2.7% during the third quarter. Koshinski Asset Management Inc. now owns 1,620 shares of the company’s stock worth $385,000 after purchasing an additional 42 shares during the period. Blossom Wealth Management lifted its stake in L3Harris Technologies by 1.7% in the third quarter. Blossom Wealth Management now owns 2,538 shares of the company’s stock valued at $604,000 after buying an additional 43 shares during the period. Nicholas Hoffman & Company LLC. lifted its stake in L3Harris Technologies by 3.3% in the third quarter. Nicholas Hoffman & Company LLC. now owns 1,353 shares of the company’s stock valued at $322,000 after buying an additional 43 shares during the period. Finally, Archer Investment Corp boosted its holdings in L3Harris Technologies by 48.9% during the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after buying an additional 43 shares during the last quarter. 84.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

LHX has been the topic of a number of analyst reports. Wolfe Research upgraded shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target on the stock in a research report on Thursday, October 10th. Truist Financial increased their target price on shares of L3Harris Technologies from $293.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Wells Fargo & Company decreased their price target on shares of L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating for the company in a report on Wednesday. Deutsche Bank Aktiengesellschaft dropped their price objective on L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. Finally, Argus raised L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 target price for the company in a research note on Tuesday, November 26th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $269.13.

Insider Activity

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $247.93, for a total transaction of $740,814.84. Following the transaction, the insider now owns 10,340 shares in the company, valued at $2,563,596.20. This trade represents a 22.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.82% of the stock is owned by company insiders.

L3Harris Technologies Stock Down 0.5 %

L3Harris Technologies stock opened at $223.16 on Friday. L3Harris Technologies, Inc. has a twelve month low of $200.18 and a twelve month high of $265.74. The stock has a market cap of $42.33 billion, a P/E ratio of 35.25, a P/E/G ratio of 1.91 and a beta of 0.72. The company’s 50-day moving average price is $245.13 and its two-hundred day moving average price is $234.86. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58.

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

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Monday, November 18th were given a dividend of $1.16 per share. The ex-dividend date was Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.08%. L3Harris Technologies’s payout ratio is presently 73.30%.

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.