L3Harris Technologies, Inc. (NYSE:LHX) Stock Holdings Increased by CENTRAL TRUST Co

CENTRAL TRUST Co raised its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 14.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 4,602 shares of the company’s stock after purchasing an additional 596 shares during the quarter. CENTRAL TRUST Co’s holdings in L3Harris Technologies were worth $1,095,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in LHX. Meeder Asset Management Inc. boosted its stake in shares of L3Harris Technologies by 260.6% during 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 in the last quarter. EntryPoint Capital LLC lifted 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 purchasing an additional 69 shares during the last quarter. Versant Capital Management Inc boosted its position in shares of L3Harris Technologies by 77.7% in the 2nd quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock valued at $41,000 after purchasing an additional 80 shares during the period. Family Firm Inc. purchased a new position in L3Harris Technologies in the 2nd quarter worth about $45,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in L3Harris Technologies during the 2nd quarter worth about $57,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Buying and Selling

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total transaction of $731,103.84. Following the transaction, the insider now owns 13,328 shares in the company, valued at $3,261,095.04. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.82% of the company’s stock.

L3Harris Technologies Stock Performance

LHX stock opened at $252.66 on Friday. The firm has a 50 day moving average of $236.59 and a two-hundred day moving average of $226.89. L3Harris Technologies, Inc. has a 12 month low of $169.55 and a 12 month high of $258.89. The company has a market capitalization of $47.92 billion, a price-to-earnings ratio of 41.02, a P/E/G ratio of 2.08 and a beta of 0.73. The company has a quick ratio of 0.74, a current ratio of 0.90 and a debt-to-equity ratio of 0.56.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.27 by $0.07. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The firm had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.28 billion. During the same period in the prior year, the company posted $3.19 earnings per share. L3Harris Technologies’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, equities analysts anticipate that L3Harris Technologies, Inc. will post 13.06 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date is Monday, November 18th. L3Harris Technologies’s payout ratio is 75.32%.

Analysts Set New Price Targets

Several research analysts have commented on LHX shares. Wells Fargo & Company decreased their target price on shares of L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Citigroup boosted their target price on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Morgan Stanley cut L3Harris Technologies from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $275.00 to $257.00 in a research report on Friday, August 9th. Barclays upped their price target on L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective 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. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $256.71.

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.