Citizens Financial Group Inc. RI Lowers Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Citizens Financial Group Inc. RI trimmed its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 69.3% in the 2nd quarter, Holdings Channel reports. The fund owned 9,417 shares of the company’s stock after selling 21,288 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in L3Harris Technologies were worth $2,115,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. RFG Advisory LLC lifted its position in shares of L3Harris Technologies by 3.1% during the second quarter. RFG Advisory LLC now owns 1,416 shares of the company’s stock worth $318,000 after purchasing an additional 43 shares during the last quarter. Optas LLC grew its stake in L3Harris Technologies by 3.3% in the 2nd quarter. Optas LLC now owns 1,381 shares of the company’s stock worth $310,000 after acquiring an additional 44 shares in the last quarter. Founders Financial Securities LLC increased its position in shares of L3Harris Technologies by 2.8% during the second quarter. Founders Financial Securities LLC now owns 1,774 shares of the company’s stock worth $398,000 after acquiring an additional 48 shares during the period. Whitener Capital Management Inc. grew its stake in L3Harris Technologies by 3.0% in the second quarter. Whitener Capital Management Inc. now owns 1,715 shares of the company’s stock worth $385,000 after purchasing an additional 50 shares in the last quarter. Finally, Newman Dignan & Sheerar Inc. increased its holdings in L3Harris Technologies by 0.6% during the 2nd quarter. Newman Dignan & Sheerar Inc. now owns 8,888 shares of the company’s stock worth $1,996,000 after purchasing an additional 55 shares during the period. Institutional investors own 84.76% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Barclays raised their price target on L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Susquehanna upped their price target on shares of L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research report on Monday, July 29th. Wells Fargo & Company reduced their price target on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating and boosted their target price for the stock from $245.00 to $257.00 in a report on Friday, July 26th. Finally, Royal Bank of Canada lowered shares of L3Harris Technologies from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $250.00 to $240.00 in a research note on Wednesday, August 14th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, L3Harris Technologies currently has an average rating of “Moderate Buy” and an average target price of $247.08.

Insiders Place Their Bets

In other news, SVP Scott T. Mikuen sold 15,887 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $235.00, for a total value of $3,733,445.00. Following the transaction, the senior vice president now directly owns 47,616 shares of the company’s stock, valued at $11,189,760. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other L3Harris Technologies news, SVP Scott T. Mikuen sold 15,887 shares of the business’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $235.00, for a total transaction of $3,733,445.00. Following the transaction, the senior vice president now owns 47,616 shares of the company’s stock, valued at $11,189,760. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Scott T. Mikuen sold 10,527 shares of the firm’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $230.00, for a total value of $2,421,210.00. Following the completion of the sale, the senior vice president now directly owns 47,616 shares of the company’s stock, valued at $10,951,680. The disclosure for this sale can be found here. Insiders have sold a total of 29,402 shares of company stock valued at $6,861,855 in the last 90 days. 0.82% of the stock is owned by insiders.

L3Harris Technologies Stock Performance

NYSE LHX opened at $231.69 on Tuesday. The company has a current ratio of 0.90, a quick ratio of 0.74 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $43.95 billion, a price-to-earnings ratio of 37.61, a PEG ratio of 1.95 and a beta of 0.73. The stock has a 50-day moving average of $231.19 and a 200 day moving average of $221.39. L3Harris Technologies, Inc. has a twelve month low of $160.25 and a twelve month high of $245.60.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, July 25th. The company reported $3.24 EPS for the quarter, topping analysts’ consensus estimates of $3.18 by $0.06. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The business had revenue of $5.30 billion during the quarter, compared to analysts’ expectations of $5.30 billion. During the same quarter in the previous year, the company earned $2.97 earnings per share. The company’s quarterly revenue was up 12.9% on a year-over-year basis. Sell-side analysts anticipate that L3Harris Technologies, Inc. will post 13.06 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be issued a $1.16 dividend. The ex-dividend date is Friday, September 6th. This represents a $4.64 dividend on an annualized basis and a yield of 2.00%. L3Harris Technologies’s payout ratio is currently 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.