Citizens Financial Group Inc. RI Lowers Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Citizens Financial Group Inc. RI lowered its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 2.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,338 shares of the company’s stock after selling 625 shares during the period. Citizens Financial Group Inc. RI’s holdings in L3Harris Technologies were worth $6,600,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Strong Tower Advisory Services lifted its stake in shares of L3Harris Technologies by 0.9% during the 4th quarter. Strong Tower Advisory Services now owns 5,363 shares of the company’s stock valued at $1,130,000 after buying an additional 49 shares in the last quarter. Blossom Wealth Management lifted its stake in shares of L3Harris Technologies by 2.1% during the 4th quarter. Blossom Wealth Management now owns 2,465 shares of the company’s stock valued at $519,000 after buying an additional 51 shares in the last quarter. Parkside Financial Bank & Trust lifted its stake in shares of L3Harris Technologies by 13.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 504 shares of the company’s stock valued at $106,000 after buying an additional 58 shares in the last quarter. Cassaday & Co Wealth Management LLC lifted its stake in shares of L3Harris Technologies by 3.8% during the 3rd quarter. Cassaday & Co Wealth Management LLC now owns 1,622 shares of the company’s stock valued at $282,000 after buying an additional 59 shares in the last quarter. Finally, Sky Investment Group LLC lifted its stake in shares of L3Harris Technologies by 4.2% during the 3rd quarter. Sky Investment Group LLC now owns 1,495 shares of the company’s stock valued at $260,000 after buying an additional 60 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

Insider Activity at L3Harris Technologies

In related news, insider Edward J. Zoiss sold 3,707 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $211.47, for a total transaction of $783,919.29. Following the transaction, the insider now directly owns 28,644 shares in the company, valued at approximately $6,057,346.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other L3Harris Technologies news, insider Edward J. Zoiss sold 3,707 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $211.47, for a total value of $783,919.29. Following the transaction, the insider now directly owns 28,644 shares in the company, valued at approximately $6,057,346.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Scott T. Mikuen sold 1,292 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $211.14, for a total transaction of $272,792.88. Following the completion of the transaction, the senior vice president now owns 58,617 shares in the company, valued at $12,376,393.38. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 48,362 shares of company stock worth $10,261,360. Insiders own 0.82% of the company’s stock.

Wall Street Analysts Forecast Growth

LHX has been the topic of several research analyst reports. Royal Bank of Canada boosted their price target on shares of L3Harris Technologies from $235.00 to $245.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. JPMorgan Chase & Co. upgraded shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 price target on the stock in a research note on Thursday, January 11th. StockNews.com cut shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. Citigroup boosted their price target on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock a “buy” rating in a research note on Tuesday, February 13th. Finally, UBS Group boosted their price target on shares of L3Harris Technologies from $222.00 to $229.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $229.60.

L3Harris Technologies Stock Performance

L3Harris Technologies stock opened at $214.54 on Friday. The company’s 50-day moving average price is $210.16 and its 200-day moving average price is $201.44. L3Harris Technologies, Inc. has a twelve month low of $160.25 and a twelve month high of $218.34. The company has a quick ratio of 0.82, a current ratio of 1.01 and a debt-to-equity ratio of 0.59. The company has a market cap of $40.79 billion, a PE ratio of 34.83, a price-to-earnings-growth ratio of 1.99 and a beta of 0.65.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, April 25th. The company reported $3.06 EPS for the quarter, beating the consensus estimate of $2.89 by $0.17. The company had revenue of $5.21 billion for 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.86 EPS. On average, equities research analysts forecast that L3Harris Technologies, Inc. will post 12.76 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

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

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.