Wesbanco Bank Inc. Sells 2,628 Shares of L3Harris Technologies Inc $LHX

Wesbanco Bank Inc. decreased its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 34.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,923 shares of the company’s stock after selling 2,628 shares during the period. Wesbanco Bank Inc.’s holdings in L3Harris Technologies were worth $1,504,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Kiker Wealth Management LLC lifted its position in L3Harris Technologies by 137.0% during the second quarter. Kiker Wealth Management LLC now owns 109 shares of the company’s stock valued at $27,000 after purchasing an additional 63 shares in the last quarter. Harbor Asset Planning Inc. purchased a new stake in L3Harris Technologies in the second quarter worth about $32,000. Twin Peaks Wealth Advisors LLC bought a new position in shares of L3Harris Technologies in the second quarter worth about $34,000. Salomon & Ludwin LLC purchased a new position in shares of L3Harris Technologies during the 3rd quarter valued at about $34,000. Finally, Rakuten Securities Inc. lifted its position in shares of L3Harris Technologies by 234.8% during the 2nd quarter. Rakuten Securities Inc. now owns 154 shares of the company’s stock valued at $39,000 after buying an additional 108 shares in the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at L3Harris Technologies

In other news, insider Samir Mehta sold 4,840 shares of L3Harris Technologies stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $338.85, for a total value of $1,640,034.00. Following the sale, the insider directly owned 5,916 shares of the company’s stock, valued at approximately $2,004,636.60. The trade was a 45.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Christopher E. Kubasik sold 14,171 shares of the business’s stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $301.05, for a total value of $4,266,179.55. Following the completion of the sale, the chief executive officer owned 144,426 shares in the company, valued at $43,479,447.30. This represents a 8.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.72% of the company’s stock.

L3Harris Technologies Trading Down 1.6%

Shares of LHX opened at $344.93 on Wednesday. The firm has a market cap of $64.52 billion, a P/E ratio of 40.44, a price-to-earnings-growth ratio of 2.53 and a beta of 0.64. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.19 and a quick ratio of 1.02. L3Harris Technologies Inc has a 1 year low of $193.09 and a 1 year high of $369.59. The company has a 50 day simple moving average of $317.92 and a two-hundred day simple moving average of $295.63.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, topping analysts’ consensus estimates of $2.76 by $0.10. The firm had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.76 billion. L3Harris Technologies had a net margin of 7.35% and a return on equity of 10.43%. L3Harris Technologies’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.47 earnings per share. On average, equities analysts expect that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be issued a dividend of $1.25 per share. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.20. The ex-dividend date of this dividend is Friday, March 6th. This represents a $5.00 annualized dividend and a dividend yield of 1.4%. L3Harris Technologies’s payout ratio is currently 56.27%.

Analyst Ratings Changes

Several research firms recently issued reports on LHX. Wall Street Zen cut shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Saturday. BNP Paribas Exane raised shares of L3Harris Technologies to a “hold” rating in a research note on Tuesday, November 18th. Vertical Research restated a “buy” rating and set a $355.00 price objective on shares of L3Harris Technologies in a research report on Tuesday, January 13th. Weiss Ratings upgraded shares of L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, December 29th. Finally, UBS Group upped their target price on shares of L3Harris Technologies to $323.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. Fifteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $328.57.

About L3Harris Technologies

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.