Community Trust & Investment Co. Acquires 4,828 Shares of L3Harris Technologies Inc $LHX

Community Trust & Investment Co. increased its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 8.2% during the third quarter, Holdings Channel reports. The fund owned 63,777 shares of the company’s stock after purchasing an additional 4,828 shares during the period. Community Trust & Investment Co.’s holdings in L3Harris Technologies were worth $15,101,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. NBH Bank bought a new position in L3Harris Technologies in the second quarter valued at about $26,000. Cedar Mountain Advisors LLC lifted its stake in shares of L3Harris Technologies by 1,233.3% in the 1st quarter. Cedar Mountain Advisors LLC now owns 80 shares of the company’s stock valued at $28,000 after purchasing an additional 74 shares during the period. Tower View Wealth Management LLC bought a new position in shares of L3Harris Technologies in the 1st quarter worth $29,000. Elevation Wealth Partners LLC increased its holdings in L3Harris Technologies by 80.0% in the second quarter. Elevation Wealth Partners LLC now owns 99 shares of the company’s stock valued at $29,000 after purchasing an additional 44 shares during the last quarter. Finally, Bell Investment Advisors Inc acquired a new position in L3Harris Technologies in the second quarter valued at about $33,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. The Goldman Sachs Group cut their target price on shares of L3Harris Technologies from $405.00 to $361.00 and set a “buy” rating on the stock in a report on Monday. Royal Bank Of Canada cut their price target on shares of L3Harris Technologies from $310.00 to $265.00 and set a “sector perform” rating on the stock in a research note on Thursday. Melius Research lowered shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, September 8th. Argus lowered L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Friday, September 25th. Finally, Susquehanna reduced their target price on shares of L3Harris Technologies from $410.00 to $350.00 and set a “positive” rating for the company in a report on Friday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $341.71.

L3Harris Technologies Stock Performance

NYSE LHX opened at $240.94 on Friday. The company has a market capitalization of $44.87 billion, a P/E ratio of 24.34, a P/E/G ratio of 1.52 and a beta of 0.50. The company has a quick ratio of 1.03, a current ratio of 1.18 and a debt-to-equity ratio of 0.46. The firm has a 50-day moving average price of $255.02 and a two-hundred day moving average price of $290.94. L3Harris Technologies Inc has a 12-month low of $232.34 and a 12-month high of $379.23.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $3.13 earnings per share for the quarter, topping the consensus estimate of $2.80 by $0.33. The business had revenue of $5.88 billion during the quarter, compared to the consensus estimate of $5.81 billion. L3Harris Technologies had a return on equity of 10.96% and a net margin of 8.17%. L3Harris Technologies’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the prior year, the company earned $2.78 EPS. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. Analysts anticipate that L3Harris Technologies Inc will post 11.89 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Friday, September 4th were issued a dividend of $1.25 per share. The ex-dividend date was Friday, September 4th. This represents a $5.00 annualized dividend and a yield of 2.1%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 50.51%.

L3Harris Technologies Company Profile

L3Harris Technologies, Inc is an aerospace and defense technology company that develops mission-critical systems, products and services for government and commercial customers. Its offerings support communications, intelligence, surveillance and reconnaissance, electronic warfare, missile defense, space operations, aviation and other national security missions.

The company provides tactical radios and secure communications systems, satellite and space payloads, avionics, night-vision and electro-optical systems, sensors, command-and-control solutions, and aircraft and mission systems.