Moody National Bank Trust Division Buys 106 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Moody National Bank Trust Division lifted its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 2.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,097 shares of the company’s stock after acquiring an additional 106 shares during the period. Moody National Bank Trust Division’s holdings in L3Harris Technologies were worth $920,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bfsg LLC bought a new stake in shares of L3Harris Technologies in the first quarter worth $25,000. Transcendent Capital Group LLC bought a new stake in L3Harris Technologies during the 4th quarter worth about $28,000. Blue Trust Inc. boosted its stake in shares of L3Harris Technologies by 178.7% during the 4th quarter. Blue Trust Inc. now owns 170 shares of the company’s stock worth $36,000 after buying an additional 109 shares during the last quarter. EntryPoint Capital LLC grew its holdings in shares of L3Harris Technologies by 70.4% in the 1st quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock valued at $36,000 after acquiring an additional 69 shares in the last quarter. Finally, Sachetta LLC acquired a new stake in shares of L3Harris Technologies in the fourth quarter valued at about $49,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 26,190 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $225.70, for a total transaction of $5,911,083.00. Following the transaction, the chief executive officer now owns 120,326 shares in the company, valued at approximately $27,157,578.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 26,190 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $225.70, for a total value of $5,911,083.00. Following the transaction, the chief executive officer now directly owns 120,326 shares of the company’s stock, valued at approximately $27,157,578.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Christopher E. Kubasik sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $222.45, for a total transaction of $5,561,250.00. Following the sale, the chief executive officer now directly owns 120,326 shares of the company’s stock, valued at approximately $26,766,518.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 109,312 shares of company stock worth $24,712,822. Company insiders own 0.82% of the company’s stock.

L3Harris Technologies Stock Performance

NYSE:LHX traded down $3.09 during mid-day trading on Monday, hitting $227.10. 1,117,224 shares of the stock were exchanged, compared to its average volume of 1,007,123. The firm’s 50-day simple moving average is $226.57 and its 200 day simple moving average is $216.92. The stock has a market capitalization of $43.08 billion, a price-to-earnings ratio of 37.49, a price-to-earnings-growth ratio of 1.90 and a beta of 0.72. L3Harris Technologies, Inc. has a fifty-two week low of $160.25 and a fifty-two week high of $245.60. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.74 and a current ratio of 0.90.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, July 25th. The company reported $3.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.18 by $0.06. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The company had revenue of $5.30 billion during the quarter, compared to analysts’ expectations of $5.30 billion. During the same quarter in the previous year, the business posted $2.97 earnings per share. L3Harris Technologies’s quarterly revenue was up 12.9% on a year-over-year basis. As a group, equities analysts anticipate that L3Harris Technologies, Inc. will post 13.04 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be given a $1.16 dividend. The ex-dividend date is Friday, September 6th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.04%. L3Harris Technologies’s payout ratio is 75.32%.

Analysts Set New Price Targets

Several research analysts recently commented on LHX shares. Royal Bank of Canada reissued an “outperform” rating and set a $250.00 price target on shares of L3Harris Technologies in a research report on Monday, July 29th. Susquehanna raised their target price on shares of L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft lowered shares of L3Harris Technologies from a “buy” rating to a “hold” rating and upped their price target for the stock from $245.00 to $257.00 in a research report on Friday, July 26th. Alembic Global Advisors raised shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price objective for the company in a research report on Monday, April 22nd. Finally, Barclays boosted their price objective on shares of L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $238.50.

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.