Stock Yards Bank & Trust Co. Lowers Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Stock Yards Bank & Trust Co. cut its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 17.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,003 shares of the company’s stock after selling 2,612 shares during the period. Stock Yards Bank & Trust Co.’s holdings in L3Harris Technologies were worth $2,528,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in LHX. KB Financial Partners LLC lifted its holdings in L3Harris Technologies by 96.5% in the 3rd quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock worth $29,000 after purchasing an additional 82 shares in the last quarter. New England Capital Financial Advisors LLC purchased a new position in L3Harris Technologies in the 3rd quarter worth approximately $35,000. Blue Trust Inc. lifted its holdings in L3Harris Technologies by 178.7% in the 4th quarter. Blue Trust Inc. now owns 170 shares of the company’s stock worth $36,000 after purchasing an additional 109 shares in the last quarter. Washington Trust Advisors Inc. lifted its holdings in L3Harris Technologies by 80.6% in the 4th quarter. Washington Trust Advisors Inc. now owns 177 shares of the company’s stock worth $37,000 after purchasing an additional 79 shares in the last quarter. Finally, Bruce G. Allen Investments LLC purchased a new position in L3Harris Technologies in the 4th quarter worth approximately $46,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock opened at $208.14 on Tuesday. The stock’s fifty day moving average is $210.24 and its two-hundred day moving average is $200.64. The company has a market capitalization of $39.57 billion, a PE ratio of 32.32, a price-to-earnings-growth ratio of 1.91 and a beta of 0.65. The company has a quick ratio of 0.82, a current ratio of 1.01 and a debt-to-equity ratio of 0.59. L3Harris Technologies, Inc. has a 52 week low of $160.25 and a 52 week high of $218.34.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Friday, January 26th. The company reported $3.35 EPS for the quarter, beating the consensus estimate of $3.31 by $0.04. The company had revenue of $5.34 billion for the quarter, compared to the consensus estimate of $5.28 billion. L3Harris Technologies had a return on equity of 12.68% and a net margin of 6.32%. L3Harris Technologies’s quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.27 EPS. As a group, analysts expect that L3Harris Technologies, Inc. will post 12.73 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be given a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 2.23%. The ex-dividend date is Tuesday, June 4th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 72.05%.

Analyst Ratings Changes

A number of research analysts recently commented on LHX shares. Raymond James boosted their price target on L3Harris Technologies from $220.00 to $235.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. JPMorgan Chase & Co. raised L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 price objective on the stock in a report on Thursday, January 11th. Wells Fargo & Company decreased their price objective on L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating on the stock in a report on Tuesday, January 30th. UBS Group upped their price objective on L3Harris Technologies from $222.00 to $229.00 and gave the stock a “neutral” rating in a report on Monday, January 29th. Finally, Royal Bank of Canada upped their price objective on L3Harris Technologies from $235.00 to $245.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $229.60.

Insider Buying and Selling at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 40,000 shares of the stock in a transaction 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 transaction, the chief executive officer now owns 116,175 shares of the company’s stock, valued at approximately $24,654,658.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Christopher E. Kubasik sold 40,000 shares of the stock in a transaction 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 transaction, the chief executive officer now owns 116,175 shares of the company’s stock, valued at approximately $24,654,658.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Scott T. Mikuen sold 1,292 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $211.14, for a total value of $272,792.88. Following the sale, the senior vice president now owns 58,617 shares of the company’s stock, valued at $12,376,393.38. The disclosure for this sale can be found here. Insiders have sold 48,362 shares of company stock valued at $10,261,360 in the last quarter. 0.87% of the stock is owned by insiders.

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.