Citizens National Bank Trust Department Increases Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Citizens National Bank Trust Department raised its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 7.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 5,683 shares of the company’s stock after acquiring an additional 375 shares during the period. Citizens National Bank Trust Department’s holdings in L3Harris Technologies were worth $1,352,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Koshinski Asset Management Inc. grew its stake in shares of L3Harris Technologies by 2.7% in the 3rd quarter. Koshinski Asset Management Inc. now owns 1,620 shares of the company’s stock valued at $385,000 after purchasing an additional 42 shares during the last quarter. RFG Advisory LLC grew its stake in shares of L3Harris Technologies by 3.1% in the 2nd quarter. RFG Advisory LLC now owns 1,416 shares of the company’s stock valued at $318,000 after purchasing an additional 43 shares during the last quarter. Blossom Wealth Management grew its stake in shares of L3Harris Technologies by 1.7% in the 3rd quarter. Blossom Wealth Management now owns 2,538 shares of the company’s stock valued at $604,000 after purchasing an additional 43 shares during the last quarter. Nicholas Hoffman & Company LLC. grew its stake in shares of L3Harris Technologies by 3.3% in the 3rd quarter. Nicholas Hoffman & Company LLC. now owns 1,353 shares of the company’s stock valued at $322,000 after purchasing an additional 43 shares during the last quarter. Finally, Optas LLC grew 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. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total value of $731,103.84. Following the completion of the sale, the insider now owns 13,328 shares of the company’s stock, valued at $3,261,095.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.82% of the company’s stock.

L3Harris Technologies Stock Performance

NYSE LHX opened at $247.48 on Monday. L3Harris Technologies, Inc. has a fifty-two week low of $179.00 and a fifty-two week high of $258.89. The stock has a market cap of $46.94 billion, a price-to-earnings ratio of 39.10, a price-to-earnings-growth ratio of 2.12 and a beta of 0.72. The business has a fifty day moving average of $238.70 and a 200-day moving average of $229.07. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, topping analysts’ consensus estimates of $3.27 by $0.07. The company had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.28 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.19 earnings per share. As a group, analysts predict that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be given a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date is Monday, November 18th. L3Harris Technologies’s dividend payout ratio is currently 73.30%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on LHX. Wells Fargo & Company raised their price target on L3Harris Technologies from $260.00 to $295.00 and gave the company an “overweight” rating in a report on Monday, October 28th. StockNews.com raised L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Morgan Stanley cut L3Harris Technologies from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $275.00 to $257.00 in a report on Friday, August 9th. Susquehanna raised their price target on L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a report on Monday, July 29th. Finally, Citigroup raised their price target on L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $267.50.

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.