First Western Trust Bank Decreases Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

First Western Trust Bank lowered its holdings in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 14.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,067 shares of the company's stock after selling 2,353 shares during the period. First Western Trust Bank's holdings in L3Harris Technologies were worth $3,346,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Richard C. Young & CO. LTD. raised its position in shares of L3Harris Technologies by 1.0% in the third quarter. Richard C. Young & CO. LTD. now owns 68,921 shares of the company's stock worth $16,394,000 after buying an additional 661 shares in the last quarter. Quest Partners LLC lifted its holdings in shares of L3Harris Technologies by 36,000.0% in the 3rd quarter. Quest Partners LLC now owns 361 shares of the company's stock worth $86,000 after acquiring an additional 360 shares during the last quarter. MAI Capital Management raised its position in L3Harris Technologies by 6.4% in the 3rd quarter. MAI Capital Management now owns 28,785 shares of the company's stock worth $6,847,000 after purchasing an additional 1,732 shares during the period. Aljian Capital Management LLC increased its holdings in shares of L3Harris Technologies by 12.9% in the third quarter. Aljian Capital Management LLC now owns 7,804 shares of the company's stock worth $1,856,000 after buying an additional 891 shares during the period. Finally, TrinityPoint Wealth LLC lifted its position in L3Harris Technologies by 6.1% in the third quarter. TrinityPoint Wealth LLC now owns 3,126 shares of the company's stock valued at $744,000 after purchasing an additional 181 shares during the last quarter. Institutional investors own 84.76% of the company's stock.

L3Harris Technologies Stock Down 1.1 %

Shares of L3Harris Technologies stock traded down $2.73 on Monday, reaching $244.27. The stock had a trading volume of 716,940 shares, compared to its average volume of 911,421. The stock has a market capitalization of $46.33 billion, a P/E ratio of 38.80, a P/E/G ratio of 2.06 and a beta of 0.72. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The company has a 50 day moving average price of $243.16 and a 200 day moving average price of $232.29. L3Harris Technologies, Inc. has a 1 year low of $184.34 and a 1 year high of $265.74.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.27 by $0.07. The firm had revenue of $5.29 billion during the quarter, compared to analysts' expectations of $5.28 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The company's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the business posted $3.19 earnings per share. As a group, equities research analysts forecast that L3Harris Technologies, Inc. will post 13.09 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 1.90%. The ex-dividend date is Monday, November 18th. L3Harris Technologies's dividend payout ratio is currently 73.30%.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $244.68, for a total transaction of $731,103.84. Following the completion of the transaction, the insider now directly owns 13,328 shares of the company's stock, valued at $3,261,095.04. The trade was a 18.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders sold 8,964 shares of company stock worth $2,179,119. Insiders own 0.82% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on LHX shares. Morgan Stanley lowered L3Harris Technologies from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $275.00 to $257.00 in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft reduced their price target on L3Harris Technologies from $252.00 to $250.00 and set a "hold" rating for the company in a research report on Thursday, October 3rd. Wells Fargo & Company upped their price objective on L3Harris Technologies from $260.00 to $295.00 and gave the stock an "overweight" rating in a research note on Monday, October 28th. Citigroup increased their price objective on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a "buy" rating in a report on Thursday, October 10th. Finally, Royal Bank of Canada raised their target price on shares of L3Harris Technologies from $240.00 to $265.00 and gave the company a "sector perform" rating in a research note on Monday, October 28th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, L3Harris Technologies currently has a consensus rating of "Moderate Buy" and a consensus target price of $267.50.

About L3Harris Technologies

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.