CoreFirst Bank & Trust Acquires Shares of 200 L3Harris Technologies, Inc. (NYSE:LHX)

CoreFirst Bank & Trust acquired a new stake in L3Harris Technologies, Inc. (NYSE:LHX) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 200 shares of the company’s stock, valued at approximately $42,000.

A number of other hedge funds have also modified their holdings of the stock. Fortem Financial Group LLC acquired a new position in L3Harris Technologies during the third quarter worth $841,000. Czech National Bank grew its holdings in shares of L3Harris Technologies by 6.4% in the 4th quarter. Czech National Bank now owns 41,124 shares of the company’s stock worth $8,648,000 after purchasing an additional 2,480 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of L3Harris Technologies by 29.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock worth $184,245,000 after purchasing an additional 178,407 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in L3Harris Technologies by 2.0% during the 3rd quarter. Principal Financial Group Inc. now owns 220,269 shares of the company’s stock valued at $52,395,000 after purchasing an additional 4,321 shares during the last quarter. Finally, Sanctuary Advisors LLC boosted its position in L3Harris Technologies by 13.9% in the third quarter. Sanctuary Advisors LLC now owns 30,634 shares of the company’s stock valued at $7,602,000 after buying an additional 3,740 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Bank of America dropped their price target on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a report on Tuesday, February 4th. Morgan Stanley lowered their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Truist Financial dropped their price objective on shares of L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating for the company in a research report on Friday, January 31st. JPMorgan Chase & Co. decreased their price objective on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Finally, Sanford C. Bernstein upgraded L3Harris Technologies from a “market perform” rating to an “outperform” rating and dropped their target price for the stock from $289.00 to $267.00 in a research report on Wednesday, January 8th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, L3Harris Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $261.40.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, insider Edward J. Zoiss sold 1,783 shares of L3Harris Technologies stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $211.48, for a total value of $377,068.84. Following the transaction, the insider now owns 30,620 shares of the company’s stock, valued at approximately $6,475,517.60. The trade was a 5.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jon Rambeau sold 3,178 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $226.00, for a total transaction of $718,228.00. Following the sale, the insider now directly owns 2,797 shares of the company’s stock, valued at $632,122. This represents a 53.19 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 6,334 shares of company stock worth $1,383,709. 0.72% of the stock is owned by company insiders.

L3Harris Technologies Stock Up 1.0 %

Shares of NYSE:LHX opened at $212.80 on Wednesday. The company has a 50 day moving average price of $209.70 and a two-hundred day moving average price of $225.87. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. The company has a market capitalization of $39.95 billion, a PE ratio of 27.04, a PEG ratio of 2.42 and a beta of 0.74. L3Harris Technologies, Inc. has a 52 week low of $193.09 and a 52 week high of $265.74.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, January 30th. The company reported $3.47 EPS for the quarter, beating analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. Analysts forecast that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend was Monday, March 10th. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. L3Harris Technologies’s payout ratio is 60.99%.

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.