Stock Yards Bank & Trust Co. Decreases Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Stock Yards Bank & Trust Co. lessened its position in L3Harris Technologies, Inc. (NYSE:LHX) by 17.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,003 shares of the company’s stock after selling 2,612 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in L3Harris Technologies were worth $2,528,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in LHX. KB Financial Partners LLC lifted its position in shares of L3Harris Technologies by 96.5% in the third quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock valued at $29,000 after acquiring an additional 82 shares in the last quarter. New England Capital Financial Advisors LLC purchased a new position in L3Harris Technologies during the third quarter worth approximately $35,000. Blue Trust Inc. lifted its position in L3Harris Technologies by 178.7% during the fourth quarter. Blue Trust Inc. now owns 170 shares of the company’s stock worth $36,000 after buying an additional 109 shares in the last quarter. Washington Trust Advisors Inc. lifted its position in L3Harris Technologies by 80.6% during the fourth quarter. Washington Trust Advisors Inc. now owns 177 shares of the company’s stock worth $37,000 after buying an additional 79 shares in the last quarter. Finally, Bruce G. Allen Investments LLC purchased a new position in L3Harris Technologies during the fourth quarter worth approximately $46,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Activity

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

Analyst Ratings Changes

A number of equities analysts recently commented on LHX shares. Royal Bank of Canada lifted their price objective on L3Harris Technologies from $235.00 to $245.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. UBS Group lifted 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. StockNews.com downgraded L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. Alembic Global Advisors upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 target price on the stock in a research report on Monday. Finally, Wells Fargo & Company reduced their target price on L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 30th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $229.60.

L3Harris Technologies Trading Up 1.3 %

Shares of NYSE LHX opened at $208.14 on Tuesday. L3Harris Technologies, Inc. has a twelve month low of $160.25 and a twelve month high of $218.34. The company has a current ratio of 1.01, a quick ratio of 0.82 and a debt-to-equity ratio of 0.59. The stock has a fifty day simple moving average of $210.24 and a 200-day simple moving average of $200.64. The stock has a market capitalization of $39.57 billion, a PE ratio of 32.32, a PEG ratio of 1.91 and a beta of 0.65.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Friday, January 26th. The company reported $3.35 earnings per share for the quarter, beating analysts’ consensus estimates of $3.31 by $0.04. L3Harris Technologies had a return on equity of 12.68% and a net margin of 6.32%. The business had revenue of $5.34 billion during the quarter, compared to analysts’ expectations of $5.28 billion. During the same period in the previous year, the firm posted $3.27 earnings per share. The company’s revenue was up 16.6% on a year-over-year basis. On average, equities analysts forecast that L3Harris Technologies, Inc. will post 12.73 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be paid a $1.16 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.23%. L3Harris Technologies’s payout ratio is presently 72.05%.

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.