Intrust Bank NA Boosts Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Intrust Bank NA boosted its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 14.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,009 shares of the company’s stock after acquiring an additional 507 shares during the period. Intrust Bank NA’s holdings in L3Harris Technologies were worth $844,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Cross Staff Investments Inc increased its holdings in shares of L3Harris Technologies by 12.4% in the fourth quarter. Cross Staff Investments Inc now owns 1,432 shares of the company’s stock valued at $302,000 after purchasing an additional 158 shares during the last quarter. Sapient Capital LLC acquired a new stake in shares of L3Harris Technologies in the 4th quarter worth $1,198,000. Bruce G. Allen Investments LLC purchased a new position in shares of L3Harris Technologies during the 4th quarter worth $46,000. Ceredex Value Advisors LLC boosted its position in shares of L3Harris Technologies by 14.1% during the 3rd quarter. Ceredex Value Advisors LLC now owns 673,757 shares of the company’s stock valued at $117,315,000 after acquiring an additional 83,319 shares during the last quarter. Finally, BKM Wealth Management LLC purchased a new stake in shares of L3Harris Technologies in the fourth quarter valued at about $1,125,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, Director William H. Swanson acquired 1,250 shares of L3Harris Technologies stock in a transaction dated Thursday, March 14th. The stock was acquired at an average cost of $215.35 per share, for a total transaction of $269,187.50. Following the completion of the transaction, the director now owns 1,543 shares in the company, valued at approximately $332,285.05. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director William H. Swanson bought 1,250 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was purchased at an average cost of $215.35 per share, for a total transaction of $269,187.50. Following the completion of the transaction, the director now directly owns 1,543 shares of the company’s stock, valued at approximately $332,285.05. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Christopher E. Kubasik sold 40,000 shares of the company’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $212.22, for a total value of $8,488,800.00. Following the completion of the sale, the chief executive officer now owns 116,175 shares of the company’s stock, valued at approximately $24,654,658.50. The disclosure for this sale can be found here. Insiders sold 48,362 shares of company stock valued at $10,261,360 in the last ninety days. Company insiders own 0.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on LHX shares. Wells Fargo & Company reduced their target price on shares of L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 30th. Citigroup increased their price target on L3Harris Technologies from $238.00 to $245.00 and gave the company a “buy” rating in a research report on Tuesday, February 13th. Alembic Global Advisors upgraded shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 target price on the stock in a research note on Monday, April 22nd. JPMorgan Chase & Co. upgraded shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 price objective on the stock in a report on Thursday, January 11th. Finally, UBS Group upped their price objective on L3Harris Technologies from $222.00 to $229.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $229.93.

L3Harris Technologies Stock Down 0.9 %

NYSE:LHX traded down $1.85 during trading hours on Tuesday, hitting $215.21. The stock had a trading volume of 61,381 shares, compared to its average volume of 1,115,790. The business has a 50 day simple moving average of $210.26 and a two-hundred day simple moving average of $201.92. L3Harris Technologies, Inc. has a 1-year low of $160.25 and a 1-year high of $218.34. The company has a current ratio of 0.98, a quick ratio of 0.80 and a debt-to-equity ratio of 0.59. The company has a market cap of $40.91 billion, a PE ratio of 35.24, a price-to-earnings-growth ratio of 1.99 and a beta of 0.65.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, April 25th. The company reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.89 by $0.17. The firm had revenue of $5.21 billion during the quarter, compared to the consensus estimate of $5.11 billion. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The firm’s revenue was up 16.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.86 earnings per share. Analysts predict that L3Harris Technologies, Inc. will post 12.76 EPS for the current year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be issued a $1.16 dividend. The ex-dividend date is Friday, May 31st. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.16%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

L3Harris Technologies 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.