Smithfield Trust Co Has $609,000 Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Smithfield Trust Co lowered its holdings in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 47.4% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,562 shares of the company's stock after selling 2,308 shares during the period. Smithfield Trust Co's holdings in L3Harris Technologies were worth $609,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Meeder Asset Management Inc. increased its holdings in shares of L3Harris Technologies by 260.6% in the 2nd quarter. Meeder Asset Management Inc. now owns 119 shares of the company's stock worth $27,000 after acquiring an additional 86 shares during the period. Archer Investment Corp increased its stake in shares of L3Harris Technologies by 48.9% in the third quarter. Archer Investment Corp now owns 131 shares of the company's stock valued at $31,000 after purchasing an additional 43 shares during the period. EntryPoint Capital LLC raised its holdings in shares of L3Harris Technologies by 70.4% during the first quarter. EntryPoint Capital LLC now owns 167 shares of the company's stock valued at $36,000 after buying an additional 69 shares during the last quarter. Kennebec Savings Bank acquired a new position in shares of L3Harris Technologies during the third quarter worth approximately $36,000. Finally, Versant Capital Management Inc grew its holdings in L3Harris Technologies by 77.7% in the 2nd quarter. Versant Capital Management Inc now owns 183 shares of the company's stock worth $41,000 after buying an additional 80 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Trading Up 0.6 %

Shares of L3Harris Technologies stock traded up $1.56 on Friday, reaching $248.16. 592,215 shares of the company were exchanged, compared to its average volume of 908,873. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58. L3Harris Technologies, Inc. has a fifty-two week low of $187.37 and a fifty-two week high of $265.74. The firm has a market capitalization of $47.07 billion, a price-to-earnings ratio of 39.20, a price-to-earnings-growth ratio of 2.03 and a beta of 0.72. The stock has a fifty day moving average price of $244.86 and a 200-day moving average price of $233.15.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its earnings results on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, beating analysts' consensus estimates of $3.27 by $0.07. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The company had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.28 billion. During the same quarter in the prior year, the company earned $3.19 EPS. The firm's quarterly revenue was up 7.7% on a year-over-year basis. On average, analysts expect that L3Harris Technologies, Inc. will post 13.09 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a yield of 1.87%. L3Harris Technologies's payout ratio is currently 73.30%.

Wall Street Analysts Forecast Growth

LHX has been the topic of several recent analyst reports. Susquehanna lifted their target price on L3Harris Technologies from $260.00 to $270.00 and gave the company a "positive" rating in a research note on Monday, July 29th. Barclays lifted their price objective on shares of L3Harris Technologies from $245.00 to $265.00 and gave the company an "overweight" rating in a research note on Tuesday, July 30th. StockNews.com raised shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a research note on Monday, October 28th. Truist Financial boosted their price target on shares of L3Harris Technologies from $293.00 to $300.00 and gave the stock a "buy" rating in a research report on Monday, October 28th. Finally, Wells Fargo & Company increased their price objective on shares of L3Harris Technologies from $260.00 to $295.00 and gave the company an "overweight" rating in a report on Monday, October 28th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, L3Harris Technologies presently has a consensus rating of "Moderate Buy" and an average price target of $267.50.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $236.68, for a total value of $707,199.84. Following the completion of the sale, the insider now directly owns 16,316 shares of the company's stock, valued at $3,861,670.88. This represents a 15.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 8,964 shares of company stock worth $2,179,119 over the last 90 days. Insiders own 0.82% of the company's stock.

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.