First City Capital Management Inc. Sells 500 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

First City Capital Management Inc. cut its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 19.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,115 shares of the company’s stock after selling 500 shares during the quarter. First City Capital Management Inc.’s holdings in L3Harris Technologies were worth $443,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. WealthBridge Investment Counsel Inc. lifted its holdings in shares of L3Harris Technologies by 1.9% during the first quarter. WealthBridge Investment Counsel Inc. now owns 26,028 shares of the company’s stock valued at $5,448,000 after acquiring an additional 485 shares during the period. Elk River Wealth Management LLC lifted its holdings in shares of L3Harris Technologies by 600.8% during the first quarter. Elk River Wealth Management LLC now owns 31,123 shares of the company’s stock valued at $6,514,000 after acquiring an additional 26,682 shares during the period. Pines Wealth Management LLC bought a new position in shares of L3Harris Technologies during the first quarter valued at $240,000. Retireful LLC bought a new position in shares of L3Harris Technologies during the first quarter valued at $332,000. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of L3Harris Technologies by 26.7% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 9,981 shares of the company’s stock valued at $2,089,000 after acquiring an additional 2,106 shares during the period. 84.76% of the stock is owned by institutional investors.

Insider Transactions at L3Harris Technologies

In other news, insider Edward J. Zoiss sold 2,000 shares of L3Harris Technologies stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $245.00, for a total transaction of $490,000.00. Following the transaction, the insider now owns 25,325 shares in the company, valued at $6,204,625. The trade was a 7.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $226.00, for a total value of $718,228.00. Following the transaction, the insider now owns 2,797 shares in the company, valued at $632,122. This trade represents a 53.19% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

L3Harris Technologies Price Performance

Shares of LHX stock opened at $244.31 on Friday. The stock has a 50-day moving average price of $223.54 and a 200 day moving average price of $218.32. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The firm has a market cap of $45.67 billion, a price-to-earnings ratio of 31.04, a PEG ratio of 2.42 and a beta of 0.72. L3Harris Technologies, Inc. has a 12 month low of $193.09 and a 12 month high of $265.74.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, April 24th. The company reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.32 by $0.09. The company had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.29 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the previous year, the company earned $3.06 EPS. Research analysts expect that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be given a dividend of $1.20 per share. The ex-dividend date is Tuesday, June 3rd. This represents a $4.80 annualized dividend and a dividend yield of 1.96%. L3Harris Technologies’s payout ratio is currently 56.94%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on LHX shares. Wells Fargo & Company cut their price objective on L3Harris Technologies from $268.00 to $242.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. UBS Group raised their target price on L3Harris Technologies from $222.00 to $226.00 and gave the company a “neutral” rating in a research note on Monday, April 28th. Truist Financial lowered their target price on L3Harris Technologies from $264.00 to $260.00 and set a “buy” rating for the company in a research note on Friday, April 25th. The Goldman Sachs Group upgraded L3Harris Technologies from a “sell” rating to a “buy” rating and raised their target price for the company from $198.00 to $263.00 in a research note on Friday, April 11th. Finally, Jefferies Financial Group lowered their target price on L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $256.56.

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.