L3Harris Technologies, Inc. (NYSE:LHX) Position Lowered by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. reduced its position in L3Harris Technologies, Inc. (NYSE:LHXFree Report) by 4.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 127,249 shares of the company’s stock after selling 5,280 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.07% of L3Harris Technologies worth $26,801,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of LHX. Cross Staff Investments Inc raised its position in shares of L3Harris Technologies by 12.4% during the 4th quarter. Cross Staff Investments Inc now owns 1,432 shares of the company’s stock worth $302,000 after purchasing an additional 158 shares during the period. Boston Partners lifted its stake in L3Harris Technologies by 107.2% in the fourth quarter. Boston Partners now owns 813,558 shares of the company’s stock valued at $171,343,000 after buying an additional 420,943 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of L3Harris Technologies by 40.0% during the fourth quarter. Victory Capital Management Inc. now owns 106,231 shares of the company’s stock worth $22,374,000 after acquiring an additional 30,358 shares during the last quarter. Sapient Capital LLC acquired a new stake in shares of L3Harris Technologies in the 4th quarter worth about $1,198,000. Finally, Bruce G. Allen Investments LLC bought a new stake in L3Harris Technologies in the 4th quarter valued at about $46,000. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Performance

Shares of LHX stock opened at $223.59 on Tuesday. The stock’s fifty day simple moving average is $211.64 and its 200-day simple moving average is $206.24. 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 capitalization of $42.41 billion, a price-to-earnings ratio of 36.30, a P/E/G ratio of 1.87 and a beta of 0.63. L3Harris Technologies, Inc. has a 1-year low of $160.25 and a 1-year high of $224.34.

L3Harris Technologies (NYSE:LHXGet Free Report) last issued its quarterly earnings data on Thursday, April 25th. The company reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.89 by $0.17. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The firm had revenue of $5.21 billion for the quarter, compared to analyst estimates of $5.11 billion. During the same quarter last year, the firm earned $2.86 earnings per share. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. On average, sell-side analysts predict that L3Harris Technologies, Inc. will post 12.92 earnings per share 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. Stockholders of record on Tuesday, June 4th will be given a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Tuesday, June 4th. L3Harris Technologies’s dividend payout ratio is 75.32%.

Insider Transactions at L3Harris Technologies

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

Wall Street Analyst Weigh In

Several equities research analysts have commented on LHX shares. Royal Bank of Canada raised their price target on shares of L3Harris Technologies from $245.00 to $250.00 and gave the company an “outperform” rating in a research note on Monday, April 29th. Raymond James boosted their price target on shares of L3Harris Technologies from $220.00 to $235.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. Alembic Global Advisors upgraded shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price objective on the stock in a research note on Monday, April 22nd. Barclays boosted their target price on L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a report on Tuesday, April 30th. Finally, JPMorgan Chase & Co. upped their price objective on L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $231.80.

Read Our Latest Research Report on LHX

L3Harris Technologies Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for L3Harris Technologies (NYSE:LHX)

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