Truist Financial Corp Sells 9,279 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Truist Financial Corp decreased its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 7.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 112,861 shares of the company’s stock after selling 9,279 shares during the period. Truist Financial Corp owned 0.06% of L3Harris Technologies worth $23,771,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Cross Staff Investments Inc raised its holdings in shares of L3Harris Technologies by 12.4% during the fourth quarter. Cross Staff Investments Inc now owns 1,432 shares of the company’s stock valued at $302,000 after acquiring an additional 158 shares in the last quarter. Sapient Capital LLC bought a new stake in L3Harris Technologies in the fourth quarter valued at $1,198,000. Bruce G. Allen Investments LLC purchased a new position in L3Harris Technologies during the 4th quarter valued at $46,000. Ceredex Value Advisors LLC raised its holdings in L3Harris Technologies by 14.1% in the 3rd quarter. Ceredex Value Advisors LLC now owns 673,757 shares of the company’s stock worth $117,315,000 after purchasing an additional 83,319 shares in the last quarter. Finally, BKM Wealth Management LLC purchased a new stake in shares of L3Harris Technologies in the 4th quarter worth about $1,125,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Transactions at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 40,000 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 116,175 shares of the company’s stock, valued at $24,654,658.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Christopher E. Kubasik sold 40,000 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the transaction, the chief executive officer now owns 116,175 shares in the company, valued at $24,654,658.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director William H. Swanson bought 1,250 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was bought at an average cost of $215.35 per share, with a total value of $269,187.50. Following the transaction, the director now owns 1,543 shares in the company, valued at approximately $332,285.05. The disclosure for this purchase can be found here. Insiders sold 48,362 shares of company stock worth $10,261,360 over the last quarter. 0.87% of the stock is currently owned by insiders.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock opened at $217.07 on Tuesday. The stock has a market cap of $41.27 billion, a price-to-earnings ratio of 35.24, a PEG ratio of 1.99 and a beta of 0.65. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.98 and a quick ratio of 0.80. L3Harris Technologies, Inc. has a 1 year low of $160.25 and a 1 year high of $218.34. The firm’s 50-day moving average is $210.26 and its 200 day moving average is $201.92.

L3Harris Technologies (NYSE:LHX) last posted 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 firm had revenue of $5.21 billion for the quarter, compared to analysts’ expectations of $5.11 billion. During the same quarter in the prior year, the company posted $2.86 earnings per share. The business’s revenue for the quarter was up 16.6% on a year-over-year basis. Sell-side analysts anticipate that L3Harris Technologies, Inc. will post 12.76 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be issued a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend is Friday, May 31st. L3Harris Technologies’s payout ratio is 75.32%.

Analyst Ratings Changes

LHX has been the topic of several research analyst reports. Raymond James boosted their price target on shares of L3Harris Technologies from $220.00 to $235.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. StockNews.com downgraded L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Monday, January 29th. Citigroup raised their target price on L3Harris Technologies from $238.00 to $245.00 and gave the company a “buy” rating in a research note on Tuesday, February 13th. UBS Group upped their price target on L3Harris Technologies from $222.00 to $229.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. Finally, Royal Bank of Canada increased their price objective on L3Harris Technologies from $245.00 to $250.00 and gave the stock an “outperform” rating in a report on Monday. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $229.93.

L3Harris Technologies Company 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.