First City Capital Management Inc. Sells 50 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

First City Capital Management Inc. lowered its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 1.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,615 shares of the company’s stock after selling 50 shares during the quarter. First City Capital Management Inc.’s holdings in L3Harris Technologies were worth $550,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of LHX. Geode Capital Management LLC grew its stake in shares of L3Harris Technologies by 1.3% during the third quarter. Geode Capital Management LLC now owns 4,734,832 shares of the company’s stock valued at $1,122,630,000 after buying an additional 59,008 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in L3Harris Technologies by 1.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,039,832 shares of the company’s stock valued at $485,215,000 after acquiring an additional 27,763 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in L3Harris Technologies by 5.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,542,333 shares of the company’s stock worth $366,875,000 after buying an additional 85,882 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its position in shares of L3Harris Technologies by 2.2% during the second quarter. Diamond Hill Capital Management Inc. now owns 1,489,129 shares of the company’s stock valued at $334,429,000 after purchasing an additional 31,686 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in L3Harris Technologies by 12.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,405,337 shares of the company’s stock worth $315,611,000 after purchasing an additional 156,453 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Activity

In other news, insider Ross Niebergall sold 1,764 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $223.62, for a total transaction of $394,465.68. Following the transaction, the insider now directly owns 8,576 shares of the company’s stock, valued at approximately $1,917,765.12. This represents a 17.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last quarter, insiders sold 7,889 shares of company stock worth $1,800,572. 0.82% of the stock is currently owned by corporate insiders.

L3Harris Technologies Trading Up 1.2 %

L3Harris Technologies stock traded up $2.42 during mid-day trading on Friday, hitting $209.78. The company’s stock had a trading volume of 434,296 shares, compared to its average volume of 689,704. L3Harris Technologies, Inc. has a one year low of $200.18 and a one year high of $265.74. The stock has a market cap of $39.79 billion, a PE ratio of 33.14, a P/E/G ratio of 1.86 and a beta of 0.72. The company has a 50 day moving average of $236.03 and a 200-day moving average of $233.94. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.27 by $0.07. The firm had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.28 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. L3Harris Technologies’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.19 earnings per share. On average, research analysts anticipate that L3Harris Technologies, Inc. will post 13.09 EPS for the current year.

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Monday, November 18th were given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date was Monday, November 18th. L3Harris Technologies’s dividend payout ratio (DPR) is 73.30%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on LHX shares. Truist Financial lifted their price objective on L3Harris Technologies from $293.00 to $300.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Royal Bank of Canada upped their price target on L3Harris Technologies from $240.00 to $265.00 and gave the company a “sector perform” rating in a report on Monday, October 28th. Raymond James downgraded L3Harris Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday. Wells Fargo & Company lowered their target price on shares of L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 11th. Finally, Argus upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price objective on the stock in a research report on Tuesday, November 26th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $267.73.

L3Harris Technologies 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.