Stock Yards Bank & Trust Co. Has $2.20 Million Position in L3Harris Technologies Inc $LHX

Stock Yards Bank & Trust Co. lowered its position in L3Harris Technologies Inc (NYSE:LHX) by 4.8% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 8,768 shares of the company’s stock after selling 441 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in L3Harris Technologies were worth $2,199,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Clearstead Trust LLC acquired a new position in shares of L3Harris Technologies in the first quarter valued at approximately $26,000. Nova Wealth Management Inc. acquired a new position in shares of L3Harris Technologies in the first quarter valued at approximately $26,000. Beacon Capital Management LLC increased its stake in shares of L3Harris Technologies by 79.5% in the first quarter. Beacon Capital Management LLC now owns 131 shares of the company’s stock valued at $27,000 after buying an additional 58 shares during the period. Independence Bank of Kentucky increased its stake in shares of L3Harris Technologies by 44.4% in the second quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock valued at $33,000 after buying an additional 40 shares during the period. Finally, Cornerstone Planning Group LLC increased its stake in shares of L3Harris Technologies by 323.3% in the first quarter. Cornerstone Planning Group LLC now owns 182 shares of the company’s stock valued at $39,000 after buying an additional 139 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

L3Harris Technologies stock opened at $297.52 on Friday. The stock has a market capitalization of $55.67 billion, a price-to-earnings ratio of 33.24, a PEG ratio of 2.17 and a beta of 0.76. L3Harris Technologies Inc has a 52-week low of $193.09 and a 52-week high of $305.94. The stock’s 50 day moving average price is $279.07 and its two-hundred day moving average price is $249.57. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, July 24th. The company reported $2.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.48 by $0.30. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The firm had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.31 billion. During the same period in the prior year, the business earned $3.24 EPS. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. On average, equities analysts predict that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 22nd. Investors of record on Friday, September 5th were issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Friday, September 5th. L3Harris Technologies’s dividend payout ratio (DPR) is currently 53.63%.

Insider Activity

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 83,000 shares of the firm’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $279.90, for a total transaction of $23,231,700.00. Following the transaction, the chief executive officer directly owned 145,578 shares in the company, valued at approximately $40,747,282.20. This trade represents a 36.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders sold 195,138 shares of company stock valued at $53,571,774. 0.72% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on LHX shares. Barclays upped their price objective on L3Harris Technologies from $255.00 to $305.00 and gave the company an “overweight” rating in a research note on Tuesday, July 29th. UBS Group increased their target price on shares of L3Harris Technologies from $262.00 to $280.00 and gave the company a “neutral” rating in a research report on Friday, July 25th. Wall Street Zen raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Friday, August 22nd. Sanford C. Bernstein reissued an “outperform” rating on shares of L3Harris Technologies in a research report on Monday, July 14th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of L3Harris Technologies in a research report on Saturday, September 27th. Fourteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $279.47.

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.