AMG National Trust Bank Sells 14,359 Shares of L3Harris Technologies Inc (NYSE:LHX)

AMG National Trust Bank cut its stake in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 73.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,070 shares of the company's stock after selling 14,359 shares during the period. AMG National Trust Bank's holdings in L3Harris Technologies were worth $1,061,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in LHX. Oppenheimer Asset Management Inc. grew its stake in L3Harris Technologies by 5.1% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 4,425 shares of the company's stock valued at $926,000 after purchasing an additional 216 shares during the period. BankPlus Wealth Management LLC lifted its holdings in L3Harris Technologies by 6.0% during the 1st quarter. BankPlus Wealth Management LLC now owns 2,061 shares of the company's stock worth $432,000 after purchasing an additional 117 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in L3Harris Technologies by 21.2% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 7,077 shares of the company's stock worth $1,488,000 after purchasing an additional 1,236 shares in the last quarter. Brighton Jones LLC boosted its position in shares of L3Harris Technologies by 233.9% during the 4th quarter. Brighton Jones LLC now owns 4,284 shares of the company's stock valued at $901,000 after acquiring an additional 3,001 shares during the last quarter. Finally, Capital Analysts LLC lifted its position in L3Harris Technologies by 4.2% in the 4th quarter. Capital Analysts LLC now owns 44,510 shares of the company's stock worth $9,360,000 after buying an additional 1,808 shares during the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LHX has been the topic of a number of recent analyst reports. Susquehanna set a $300.00 price objective on L3Harris Technologies and gave the stock a "positive" rating in a research report on Monday, July 14th. The Goldman Sachs Group raised L3Harris Technologies from a "sell" rating to a "buy" rating and raised their price objective for the stock from $198.00 to $263.00 in a research note on Friday, April 11th. Citigroup reissued a "buy" rating and issued a $300.00 price target (up from $280.00) on shares of L3Harris Technologies in a report on Monday, July 14th. Wells Fargo & Company reduced their price objective on L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Finally, Jefferies Financial Group dropped their target price on L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating for the company in a report on Monday, March 31st. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $263.81.

Insider Activity

In other news, CEO Christopher E. Kubasik sold 33,061 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $248.48, for a total transaction of $8,214,997.28. Following the completion of the sale, the chief executive officer owned 145,572 shares of the company's stock, valued at approximately $36,171,730.56. This trade represents a 18.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Edward J. Zoiss sold 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $245.00, for a total transaction of $490,000.00. Following the completion of the sale, the insider directly owned 25,325 shares of the company's stock, valued at approximately $6,204,625. This represents a 7.32% 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 NYSE:LHX traded up $6.46 on Thursday, reaching $276.06. 1,506,064 shares of the company traded hands, compared to its average volume of 1,448,077. L3Harris Technologies Inc has a fifty-two week low of $193.09 and a fifty-two week high of $280.03. The company's 50 day moving average is $249.45 and its 200-day moving average is $224.70. The stock has a market capitalization of $51.61 billion, a PE ratio of 32.89, a P/E/G ratio of 2.06 and a beta of 0.75. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 0.85.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The company reported $2.78 earnings per share for the quarter, topping analysts' consensus estimates of $2.48 by $0.30. L3Harris Technologies had a net margin of 7.55% and a return on equity of 12.38%. L3Harris Technologies's revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the prior year, the firm earned $3.24 EPS. As a group, analysts anticipate that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Investors of record on Friday, September 5th will be given a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.74%. The ex-dividend date is Friday, September 5th. L3Harris Technologies's dividend payout ratio (DPR) is presently 56.94%.

L3Harris Technologies Company 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.