L3Harris Technologies, Inc. (NYSE:LHX) Shares Acquired by Community Trust & Investment Co.

Community Trust & Investment Co. lifted its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 80.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 61,665 shares of the company’s stock after acquiring an additional 27,511 shares during the quarter. Community Trust & Investment Co.’s holdings in L3Harris Technologies were worth $12,072,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Herbst Group LLC boosted its holdings in L3Harris Technologies by 10.8% during the 2nd quarter. Herbst Group LLC now owns 8,225 shares of the company’s stock valued at $1,610,000 after acquiring an additional 800 shares during the period. Town & Country Bank & Trust CO dba First Bankers Trust CO lifted its position in shares of L3Harris Technologies by 0.9% during the second quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 15,153 shares of the company’s stock worth $2,967,000 after purchasing an additional 128 shares in the last quarter. Capital Investment Advisors LLC boosted its stake in shares of L3Harris Technologies by 3.3% in the second quarter. Capital Investment Advisors LLC now owns 4,972 shares of the company’s stock valued at $973,000 after purchasing an additional 160 shares during the period. Janiczek Wealth Management LLC grew its holdings in shares of L3Harris Technologies by 23.3% in the second quarter. Janiczek Wealth Management LLC now owns 280 shares of the company’s stock valued at $55,000 after purchasing an additional 53 shares in the last quarter. Finally, Brookstone Capital Management increased its stake in L3Harris Technologies by 25.8% during the 2nd quarter. Brookstone Capital Management now owns 2,178 shares of the company’s stock worth $424,000 after buying an additional 446 shares during the period. 81.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, President Edward J. Zoiss sold 30,000 shares of L3Harris Technologies stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $90.84, for a total value of $2,725,200.00. Following the transaction, the president now directly owns 31,923 shares in the company, valued at $2,899,885.32. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.82% of the company’s stock.

Analyst Upgrades and Downgrades

LHX has been the subject of several research reports. The Goldman Sachs Group boosted their price target on shares of L3Harris Technologies from $162.00 to $164.00 in a research note on Friday, August 11th. Bank of America lowered their target price on L3Harris Technologies from $230.00 to $210.00 and set a “neutral” rating for the company in a research note on Wednesday, August 2nd. Sanford C. Bernstein downgraded L3Harris Technologies from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $239.00 to $210.00 in a report on Monday, August 28th. StockNews.com started coverage on L3Harris Technologies in a research note on Thursday, August 17th. They issued a “buy” rating for the company. Finally, Jefferies Financial Group cut their target price on shares of L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating on the stock in a research note on Monday, July 31st. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $229.36.

L3Harris Technologies Stock Up 0.1 %

NYSE:LHX traded up $0.22 during midday trading on Tuesday, hitting $175.35. 157,828 shares of the company were exchanged, compared to its average volume of 1,131,946. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.42. L3Harris Technologies, Inc. has a fifty-two week low of $167.14 and a fifty-two week high of $255.10. The company has a market capitalization of $33.16 billion, a PE ratio of 41.70, a price-to-earnings-growth ratio of 4.69 and a beta of 0.72. The company has a fifty day simple moving average of $184.77 and a 200 day simple moving average of $190.61.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Wednesday, July 26th. The company reported $2.97 earnings per share for the quarter, beating the consensus estimate of $2.94 by $0.03. The business had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.37 billion. L3Harris Technologies had a return on equity of 12.82% and a net margin of 4.46%. The business’s quarterly revenue was up 13.5% on a year-over-year basis. During the same period in the previous year, the business earned $3.23 EPS. As a group, equities analysts anticipate that L3Harris Technologies, Inc. will post 12.32 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 19th. Stockholders of record on Tuesday, September 5th will be issued a $1.14 dividend. This represents a $4.56 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend is Friday, September 1st. L3Harris Technologies’s payout ratio is currently 108.57%.

L3Harris Technologies Company Profile

L3Harris Technologies, Inc, an aerospace and defense technology company, provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides multi-mission intelligence, surveillance, and reconnaissance (ISR) systems; and communication systems, as well as fleet management support, sensor development, modification, and periodic depot maintenance services for ISR and airborne missions.