Charter Trust Co. Boosts Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Charter Trust Co. increased its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 10.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,220 shares of the company’s stock after buying an additional 1,106 shares during the period. Charter Trust Co.’s holdings in L3Harris Technologies were worth $2,641,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in LHX. Bar Harbor Trust Services increased its holdings in L3Harris Technologies by 10.9% in the 2nd quarter. Bar Harbor Trust Services now owns 4,013 shares of the company’s stock worth $868,000 after acquiring an additional 393 shares in the last quarter. Element Capital Management LLC acquired a new position in shares of L3Harris Technologies during the 2nd quarter worth about $70,362,000. Mackenzie Financial Corp lifted its stake in L3Harris Technologies by 11.6% in the 2nd quarter. Mackenzie Financial Corp now owns 8,745 shares of the company’s stock valued at $1,890,000 after buying an additional 912 shares in the last quarter. Baxter Bros Inc. boosted its holdings in L3Harris Technologies by 19.2% in the 2nd quarter. Baxter Bros Inc. now owns 28,340 shares of the company’s stock worth $6,126,000 after buying an additional 4,557 shares during the last quarter. Finally, NorthCoast Asset Management LLC increased its stake in L3Harris Technologies by 1.7% during the 2nd quarter. NorthCoast Asset Management LLC now owns 110,241 shares of the company’s stock worth $23,920,000 after buying an additional 1,840 shares in the last quarter. Hedge funds and other institutional investors own 80.54% of the company’s stock.

In related news, Director Thomas A. Corcoran sold 4,450 shares of the firm’s stock in a transaction that occurred on Tuesday, July 13th. The stock was sold at an average price of $225.21, for a total value of $1,002,184.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Scott T. Mikuen sold 2,826 shares of L3Harris Technologies stock in a transaction on Friday, July 16th. The stock was sold at an average price of $225.36, for a total value of $636,867.36. Following the transaction, the senior vice president now directly owns 67,712 shares of the company’s stock, valued at approximately $15,259,576.32. The disclosure for this sale can be found here. Insiders have sold 455,771 shares of company stock worth $104,958,840 in the last ninety days. 1.40% of the stock is currently owned by corporate insiders.

A number of equities research analysts have recently commented on the stock. Susquehanna increased their target price on shares of L3Harris Technologies from $244.00 to $270.00 and gave the company a “positive” rating in a research report on Wednesday, August 4th. Susquehanna Bancshares lifted their price target on L3Harris Technologies from $244.00 to $270.00 and gave the stock a “positive” rating in a report on Wednesday, August 4th. Wells Fargo & Company increased their price target on shares of L3Harris Technologies from $225.00 to $240.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 4th. Raymond James upped their price objective on L3Harris Technologies from $230.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, August 4th. Finally, Morgan Stanley lowered L3Harris Technologies from an “overweight” rating to an “equal weight” rating and set a $238.00 price target on the stock. in a research note on Wednesday, August 11th. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, L3Harris Technologies presently has an average rating of “Buy” and an average price target of $233.77.

NYSE:LHX traded down $0.65 during midday trading on Tuesday, reaching $221.39. The stock had a trading volume of 5,385 shares, compared to its average volume of 1,123,907. The company has a quick ratio of 1.50, a current ratio of 1.70 and a debt-to-equity ratio of 0.35. The stock has a market cap of $44.49 billion, a P/E ratio of 31.05, a P/E/G ratio of 2.06 and a beta of 0.89. The firm has a fifty day simple moving average of $229.14 and a two-hundred day simple moving average of $217.60. L3Harris Technologies, Inc. has a 12-month low of $158.09 and a 12-month high of $235.10.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Tuesday, August 3rd. The company reported $3.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.18 by $0.08. The business had revenue of $4.67 billion for the quarter, compared to the consensus estimate of $4.62 billion. L3Harris Technologies had a net margin of 8.17% and a return on equity of 12.60%. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.83 earnings per share. On average, sell-side analysts anticipate that L3Harris Technologies, Inc. will post 13.03 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 17th. Investors of record on Friday, September 3rd were paid a $1.02 dividend. The ex-dividend date of this dividend was Thursday, September 2nd. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.84%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 35.17%.

About L3Harris Technologies

L3Harris Technologies, Inc engages in the provision of defense and commercial technologies across air, land, sea, space and cyber domains. It operates through the following segments: Integrated Mission Systems; Space and Airborne Systems; Communication Systems; and Aviation Systems. The Integrated Mission Systems segment consists of multi-mission ISR and communication systems; integrated electrical and electronic systems for maritime platforms; and advanced electro-optical and infrared solutions.

Featured Story: Options Trading – What is a Straddle?

Want to see what other hedge funds are holding LHX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for L3Harris Technologies, Inc. (NYSE:LHX).

Institutional Ownership by Quarter for L3Harris Technologies (NYSE:LHX)

Receive News & Ratings for L3Harris Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for L3Harris Technologies and related companies with MarketBeat.com's FREE daily email newsletter.