L3Harris Technologies Inc (NYSE:LHX) Stock Position Lifted by Sabal Trust CO

Sabal Trust CO grew its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 1.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 115,928 shares of the company’s stock after purchasing an additional 1,458 shares during the period. Sabal Trust CO owned approximately 0.06% of L3Harris Technologies worth $24,265,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Meeder Asset Management Inc. increased its stake in L3Harris Technologies by 234.3% during the 4th quarter. Meeder Asset Management Inc. now owns 117 shares of the company’s stock valued at $25,000 after buying an additional 82 shares during the period. Millstone Evans Group LLC bought a new position in shares of L3Harris Technologies in the fourth quarter valued at approximately $26,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of L3Harris Technologies in the fourth quarter valued at approximately $27,000. Beacon Capital Management LLC increased its stake in shares of L3Harris Technologies by 79.5% during the first quarter. Beacon Capital Management LLC now owns 131 shares of the company’s stock valued at $27,000 after acquiring an additional 58 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC raised its holdings in L3Harris Technologies by 336.4% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company’s stock worth $30,000 after purchasing an additional 111 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

LHX has been the subject of a number of research reports. Wells Fargo & Company decreased their price target on L3Harris Technologies from $268.00 to $242.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. The Goldman Sachs Group upgraded L3Harris Technologies from a “sell” rating to a “buy” rating and upped their price objective for the company from $198.00 to $263.00 in a report on Friday, April 11th. Citigroup raised their target price on L3Harris Technologies from $245.00 to $280.00 and gave the company a “buy” rating in a research note on Monday, June 9th. UBS Group boosted their price target on shares of L3Harris Technologies from $222.00 to $226.00 and gave the stock a “neutral” rating in a research report on Monday, April 28th. Finally, Jefferies Financial Group cut their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating for the company in a report on Monday, March 31st. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $258.75.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Edward J. Zoiss sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $245.00, for a total value of $490,000.00. Following the transaction, the insider now owns 25,325 shares in the company, valued at approximately $6,204,625. This represents a 7.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher E. Kubasik sold 33,061 shares of the stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $248.48, for a total transaction of $8,214,997.28. Following the completion of the sale, the chief executive officer now owns 145,572 shares of the company’s stock, valued at approximately $36,171,730.56. The trade was a 18.51% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

L3Harris Technologies Stock Performance

L3Harris Technologies stock opened at $248.20 on Thursday. L3Harris Technologies Inc has a fifty-two week low of $193.09 and a fifty-two week high of $265.74. The firm’s 50 day simple moving average is $233.22 and its 200-day simple moving average is $218.86. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 0.85. The company has a market cap of $46.40 billion, a P/E ratio of 29.44, a price-to-earnings-growth ratio of 1.97 and a beta of 0.74.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, April 24th. The company reported $2.41 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.09. L3Harris Technologies had a net margin of 7.55% and a return on equity of 12.38%. The firm had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $5.29 billion. During the same period in the previous year, the company posted $3.06 EPS. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. As a group, equities research analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd were paid a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.93%. The ex-dividend date was Tuesday, June 3rd. L3Harris Technologies’s dividend payout ratio is currently 56.94%.

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.