Stock Yards Bank & Trust Co. Has $2.58 Million Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Stock Yards Bank & Trust Co. lessened its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 6.4% during the 3rd quarter, Holdings Channel reports. The firm owned 10,848 shares of the company’s stock after selling 737 shares during the period. Stock Yards Bank & Trust Co.’s holdings in L3Harris Technologies were worth $2,580,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. KCM Investment Advisors LLC grew its holdings in L3Harris Technologies by 43.8% during the 3rd quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company’s stock worth $4,584,000 after acquiring an additional 5,868 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in L3Harris Technologies by 17.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 43,838 shares of the company’s stock valued at $9,845,000 after purchasing an additional 6,634 shares during the last quarter. Creative Planning increased its holdings in L3Harris Technologies by 1.2% in the third quarter. Creative Planning now owns 41,588 shares of the company’s stock valued at $9,893,000 after purchasing an additional 512 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in L3Harris Technologies in the third quarter valued at about $35,904,000. Finally, Fortem Financial Group LLC bought a new position in L3Harris Technologies during the third quarter worth about $841,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Activity

In related news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $247.93, for a total transaction of $740,814.84. Following the completion of the transaction, the insider now directly owns 10,340 shares of the company’s stock, valued at approximately $2,563,596.20. This represents a 22.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.82% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Wells Fargo & Company cut their price target on shares of L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a research report on Wednesday. Bank of America raised shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $240.00 to $300.00 in a research report on Thursday, October 31st. Royal Bank of Canada upped their price objective on shares of L3Harris Technologies from $240.00 to $265.00 and gave the company a “sector perform” rating in a research report on Monday, October 28th. Wolfe Research raised L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective on the stock in a research note on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a research note on Thursday, October 3rd. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $269.13.

L3Harris Technologies Trading Down 2.0 %

NYSE LHX opened at $224.35 on Friday. L3Harris Technologies, Inc. has a 52 week low of $200.18 and a 52 week high of $265.74. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04. The stock’s 50 day moving average price is $245.92 and its two-hundred day moving average price is $234.83. The stock has a market capitalization of $42.55 billion, a price-to-earnings ratio of 35.44, a PEG ratio of 1.91 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.27 by $0.07. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The company had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.28 billion. During the same period last year, the company earned $3.19 earnings per share. The firm’s revenue was up 7.7% compared to the same quarter last year. As a group, analysts anticipate that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Monday, November 18th were paid a dividend of $1.16 per share. The ex-dividend date was Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.07%. L3Harris Technologies’s dividend payout ratio is 73.30%.

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.