First City Capital Management Inc. Trims Position in L3Harris Technologies, Inc. (NYSE:LHX)

First City Capital Management Inc. lowered its position in L3Harris Technologies, Inc. (NYSE:LHX) by 4.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,507 shares of the company’s stock after selling 150 shares during the quarter. First City Capital Management Inc.’s holdings in L3Harris Technologies were worth $788,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of LHX. RFG Advisory LLC raised its position in shares of L3Harris Technologies by 3.1% during the 2nd quarter. RFG Advisory LLC now owns 1,416 shares of the company’s stock valued at $318,000 after buying an additional 43 shares during the period. Optas LLC lifted its stake in shares of L3Harris Technologies by 3.3% in the 2nd quarter. Optas LLC now owns 1,381 shares of the company’s stock valued at $310,000 after purchasing an additional 44 shares during the last quarter. Founders Financial Securities LLC grew its holdings in shares of L3Harris Technologies by 2.8% during the 2nd quarter. Founders Financial Securities LLC now owns 1,774 shares of the company’s stock worth $398,000 after purchasing an additional 48 shares during the period. Whitener Capital Management Inc. increased its position in shares of L3Harris Technologies by 3.0% during the 2nd quarter. Whitener Capital Management Inc. now owns 1,715 shares of the company’s stock worth $385,000 after purchasing an additional 50 shares during the last quarter. Finally, Newman Dignan & Sheerar Inc. lifted its position in L3Harris Technologies by 0.6% in the second quarter. Newman Dignan & Sheerar Inc. now owns 8,888 shares of the company’s stock valued at $1,996,000 after buying an additional 55 shares during the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LHX has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft cut shares of L3Harris Technologies from a “buy” rating to a “hold” rating and lifted their price target for the company from $245.00 to $257.00 in a research report on Friday, July 26th. Royal Bank of Canada lowered L3Harris Technologies from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $250.00 to $240.00 in a research report on Wednesday, August 14th. Morgan Stanley lowered L3Harris Technologies from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $275.00 to $257.00 in a research report on Friday, August 9th. Wells Fargo & Company dropped their price objective on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Finally, Susquehanna increased their target price on L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research note on Monday, July 29th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $247.08.

L3Harris Technologies Trading Up 1.2 %

Shares of L3Harris Technologies stock opened at $233.21 on Friday. The company has a fifty day simple moving average of $231.36 and a 200-day simple moving average of $221.82. L3Harris Technologies, Inc. has a 12-month low of $160.25 and a 12-month high of $245.60. The company has a current ratio of 0.90, a quick ratio of 0.74 and a debt-to-equity ratio of 0.56. The stock has a market cap of $44.24 billion, a price-to-earnings ratio of 37.86, a PEG ratio of 1.95 and a beta of 0.73.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, July 25th. The company reported $3.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.18 by $0.06. The firm had revenue of $5.30 billion during the quarter, compared to analysts’ expectations of $5.30 billion. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The business’s revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.97 EPS. On average, equities analysts forecast that L3Harris Technologies, Inc. will post 13.06 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were issued a $1.16 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.99%. L3Harris Technologies’s payout ratio is 75.32%.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, SVP Scott T. Mikuen sold 10,527 shares of L3Harris Technologies stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $230.00, for a total value of $2,421,210.00. Following the transaction, the senior vice president now directly owns 47,616 shares in the company, valued at $10,951,680. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, SVP Scott T. Mikuen sold 15,887 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $235.00, for a total transaction of $3,733,445.00. Following the completion of the sale, the senior vice president now owns 47,616 shares in the company, valued at $11,189,760. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Scott T. Mikuen sold 10,527 shares of L3Harris Technologies stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $230.00, for a total transaction of $2,421,210.00. Following the completion of the transaction, the senior vice president now owns 47,616 shares in the company, valued at $10,951,680. The disclosure for this sale can be found here. Insiders sold a total of 29,402 shares of company stock worth $6,861,855 in the last 90 days. 0.82% of the stock is owned by insiders.

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.