PNC Financial Services Group Inc. Has $20.74 Million Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

PNC Financial Services Group Inc. lowered its position in L3Harris Technologies, Inc. (NYSE:LHX) by 4.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 98,615 shares of the company’s stock after selling 4,787 shares during the period. PNC Financial Services Group Inc. owned 0.05% of L3Harris Technologies worth $20,737,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of LHX. Bradley & Co. Private Wealth Management LLC bought a new position in L3Harris Technologies during the fourth quarter worth $27,000. Roxbury Financial LLC acquired a new stake in L3Harris Technologies during the 4th quarter worth about $30,000. Archer Investment Corp raised its position in shares of L3Harris Technologies by 48.9% in the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after acquiring an additional 43 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new position in shares of L3Harris Technologies in the 4th quarter valued at about $33,000. Finally, Kennebec Savings Bank bought a new stake in shares of L3Harris Technologies during the 3rd quarter valued at about $36,000. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies Stock Down 0.9 %

LHX stock opened at $218.16 on Tuesday. The stock’s 50 day moving average is $209.13 and its 200-day moving average is $227.53. L3Harris Technologies, Inc. has a twelve month low of $193.09 and a twelve month high of $265.74. The firm has a market capitalization of $41.08 billion, a PE ratio of 27.72, a P/E/G ratio of 2.42 and a beta of 0.74. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, beating the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. Sell-side analysts expect that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 10th will be given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 2.20%. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.16. The ex-dividend date is Monday, March 10th. L3Harris Technologies’s dividend payout ratio is presently 60.99%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on LHX shares. Barclays lowered their target price on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Bank of America lowered their price objective on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a research note on Tuesday, February 4th. JPMorgan Chase & Co. dropped their target price on shares of L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Deutsche Bank Aktiengesellschaft reduced their price target on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a report on Thursday, January 2nd. Finally, Raymond James lowered shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $261.40.

Insiders Place Their Bets

In other news, insider Ross Niebergall sold 1,373 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $210.06, for a total value of $288,412.38. Following the completion of the transaction, the insider now directly owns 5,049 shares of the company’s stock, valued at $1,060,592.94. This represents a 21.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jon Rambeau sold 3,178 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $226.00, for a total value of $718,228.00. Following the sale, the insider now directly owns 2,797 shares of the company’s stock, valued at $632,122. The trade was a 53.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,862 shares of company stock valued at $2,155,054. Corporate insiders own 0.82% of the company’s stock.

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.