Whittier Trust Co. Grows Holdings in L3Harris Technologies Inc $LHX

Whittier Trust Co. increased its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 6.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 868 shares of the company’s stock after buying an additional 50 shares during the period. Whittier Trust Co.’s holdings in L3Harris Technologies were worth $218,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Clearstead Trust LLC purchased a new stake in L3Harris Technologies during the 1st quarter worth $26,000. Nova Wealth Management Inc. purchased a new stake in L3Harris Technologies during the 1st quarter worth $26,000. Kiker Wealth Management LLC increased its stake in L3Harris Technologies by 137.0% during the 2nd quarter. Kiker Wealth Management LLC now owns 109 shares of the company’s stock worth $27,000 after buying an additional 63 shares during the period. Harbor Asset Planning Inc. purchased a new stake in L3Harris Technologies during the 2nd quarter worth $32,000. Finally, Independence Bank of Kentucky increased its position in shares of L3Harris Technologies by 44.4% in the 2nd quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock worth $33,000 after purchasing an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Trading Down 0.0%

NYSE LHX opened at $293.22 on Friday. L3Harris Technologies Inc has a one year low of $193.09 and a one year high of $308.12. The company has a 50-day simple moving average of $285.35 and a 200-day simple moving average of $258.41. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04. The firm has a market capitalization of $54.86 billion, a PE ratio of 32.76, a price-to-earnings-growth ratio of 2.14 and a beta of 0.76.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, July 24th. The company reported $2.78 EPS for the quarter, beating the consensus estimate of $2.48 by $0.30. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The business had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.31 billion. During the same period in the previous year, the business posted $3.24 EPS. The company’s quarterly revenue was up 2.4% on a year-over-year basis. On average, equities analysts forecast that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Monday, November 17th will be paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Monday, November 17th. L3Harris Technologies’s payout ratio is presently 53.63%.

Analyst Ratings Changes

LHX has been the subject of several research analyst reports. Citigroup boosted their target price on shares of L3Harris Technologies from $300.00 to $323.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Morgan Stanley boosted their target price on shares of L3Harris Technologies from $250.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 15th. Susquehanna boosted their target price on shares of L3Harris Technologies from $300.00 to $320.00 and gave the stock a “positive” rating in a research report on Friday, July 25th. Truist Financial boosted their target price on shares of L3Harris Technologies from $302.00 to $353.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of L3Harris Technologies in a research report on Wednesday, October 8th. Thirteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, L3Harris Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $287.63.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 83,000 shares of the business’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $279.90, for a total transaction of $23,231,700.00. Following the completion of the transaction, the chief executive officer directly owned 145,578 shares of the company’s stock, valued at $40,747,282.20. The trade was a 36.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders have sold 195,138 shares of company stock worth $53,571,774. Insiders own 0.72% of the company’s stock.

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.