First National Trust Co Purchases 1,342 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

First National Trust Co grew its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 5.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,426 shares of the company's stock after buying an additional 1,342 shares during the period. First National Trust Co's holdings in L3Harris Technologies were worth $5,977,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LHX. Raymond James Financial Inc. bought a new position in L3Harris Technologies during the fourth quarter worth about $398,507,000. National Pension Service boosted its holdings in L3Harris Technologies by 42.1% during the fourth quarter. National Pension Service now owns 606,047 shares of the company's stock worth $127,440,000 after buying an additional 179,539 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of L3Harris Technologies by 29.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company's stock valued at $184,245,000 after purchasing an additional 178,407 shares in the last quarter. Mizuho Markets Americas LLC lifted its holdings in shares of L3Harris Technologies by 25.3% during the 3rd quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company's stock valued at $195,704,000 after purchasing an additional 166,262 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of L3Harris Technologies by 132.4% during the 4th quarter. Victory Capital Management Inc. now owns 280,540 shares of the company's stock valued at $58,992,000 after purchasing an additional 159,806 shares in the last quarter. Institutional investors own 84.76% of the company's stock.

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Analyst Ratings Changes

Several equities analysts have recently weighed in on LHX shares. Bank of America cut their price objective on L3Harris Technologies from $300.00 to $265.00 and set a "buy" rating on the stock in a report on Tuesday, February 4th. Argus upgraded L3Harris Technologies from a "hold" rating to a "buy" rating and set a $300.00 price objective on the stock in a report on Tuesday, November 26th. Truist Financial cut their target price on L3Harris Technologies from $283.00 to $274.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. Barclays cut their target price on L3Harris Technologies from $290.00 to $255.00 and set an "overweight" rating on the stock in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. cut their target price on L3Harris Technologies from $265.00 to $255.00 and set an "overweight" rating on the stock in a research note on Friday, January 31st. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, L3Harris Technologies has an average rating of "Moderate Buy" and a consensus target price of $261.40.

Insider Buying and Selling

In related news, insider Jon Rambeau sold 3,178 shares of the business's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $226.00, for a total value of $718,228.00. Following the completion of the sale, the insider now directly owns 2,797 shares in the company, valued at $632,122. The trade was a 53.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Edward J. Zoiss sold 1,783 shares of the business's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $211.48, for a total value of $377,068.84. Following the completion of the sale, the insider now owns 30,620 shares of the company's stock, valued at $6,475,517.60. This trade represents a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,098 shares of company stock valued at $1,760,588. 0.82% of the stock is owned by insiders.

L3Harris Technologies Stock Down 0.2 %

Shares of NYSE:LHX traded down $0.52 during trading on Tuesday, hitting $212.46. 973,928 shares of the company were exchanged, compared to its average volume of 924,415. The stock has a market cap of $39.88 billion, a price-to-earnings ratio of 27.00, a P/E/G ratio of 2.42 and a beta of 0.74. L3Harris Technologies, Inc. has a fifty-two week low of $193.09 and a fifty-two week high of $265.74. The firm has a fifty day moving average price of $209.44 and a two-hundred day moving average price of $226.84. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, topping the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. As a group, research analysts anticipate that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be issued a dividend of $1.20 per share. The ex-dividend date is Monday, March 10th. This is a positive change from L3Harris Technologies's previous quarterly dividend of $1.16. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.26%. L3Harris Technologies's payout ratio is presently 60.99%.

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.