M&T Bank Corp Sells 6,798 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

M&T Bank Corp lowered its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 36.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,707 shares of the company’s stock after selling 6,798 shares during the quarter. M&T Bank Corp’s holdings in L3Harris Technologies were worth $2,467,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Verdence Capital Advisors LLC purchased a new stake in L3Harris Technologies during the third quarter valued at about $209,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in L3Harris Technologies by 8.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 48,161 shares of the company’s stock valued at $8,386,000 after purchasing an additional 3,779 shares during the last quarter. IFM Investors Pty Ltd lifted its holdings in L3Harris Technologies by 9.3% during the third quarter. IFM Investors Pty Ltd now owns 19,684 shares of the company’s stock valued at $3,427,000 after purchasing an additional 1,672 shares during the last quarter. Park Avenue Securities LLC purchased a new stake in L3Harris Technologies during the third quarter valued at about $645,000. Finally, TD Asset Management Inc lifted its holdings in L3Harris Technologies by 0.8% during the third quarter. TD Asset Management Inc now owns 80,181 shares of the company’s stock valued at $13,961,000 after purchasing an additional 607 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on LHX. JPMorgan Chase & Co. increased their price target on shares of L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. StockNews.com downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Monday, January 29th. Citigroup increased their price target on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. Barclays increased their price target on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a report on Tuesday, April 30th. Finally, Raymond James increased their price target on shares of L3Harris Technologies from $220.00 to $235.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $231.80.

Insider Transactions at L3Harris Technologies

In other news, SVP Scott T. Mikuen sold 1,292 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $211.14, for a total value of $272,792.88. Following the transaction, the senior vice president now owns 58,617 shares in the company, valued at $12,376,393.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Scott T. Mikuen sold 1,292 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $211.14, for a total value of $272,792.88. Following the transaction, the senior vice president now owns 58,617 shares in the company, valued at $12,376,393.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher E. Kubasik sold 40,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 116,175 shares in the company, valued at approximately $24,654,658.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 48,362 shares of company stock worth $10,261,360. Insiders own 0.87% of the company’s stock.

L3Harris Technologies Stock Down 0.0 %

Shares of NYSE LHX opened at $215.88 on Thursday. L3Harris Technologies, Inc. has a one year low of $160.25 and a one year high of $218.34. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.98 and a quick ratio of 0.80. The firm’s 50 day simple moving average is $210.32 and its two-hundred day simple moving average is $203.41. The stock has a market capitalization of $40.95 billion, a P/E ratio of 35.05, a PEG ratio of 1.88 and a beta of 0.63.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, April 25th. The company reported $3.06 EPS for the quarter, beating analysts’ consensus estimates of $2.89 by $0.17. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The business had revenue of $5.21 billion for the quarter, compared to analysts’ expectations of $5.11 billion. During the same period last year, the business earned $2.86 earnings per share. The business’s quarterly revenue was up 16.6% on a year-over-year basis. As a group, analysts expect that L3Harris Technologies, Inc. will post 12.91 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be issued a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 2.15%. The ex-dividend date is Tuesday, June 4th. L3Harris Technologies’s dividend payout ratio is 75.32%.

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.