First National Bank of Mount Dora Trust Investment Services Sells 16,916 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

First National Bank of Mount Dora Trust Investment Services decreased its position in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 59.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,473 shares of the company's stock after selling 16,916 shares during the period. First National Bank of Mount Dora Trust Investment Services' holdings in L3Harris Technologies were worth $2,401,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Accurate Wealth Management LLC increased its holdings in L3Harris Technologies by 3.8% in the 1st quarter. Accurate Wealth Management LLC now owns 4,335 shares of the company's stock valued at $962,000 after buying an additional 160 shares during the period. Yousif Capital Management LLC raised its position in L3Harris Technologies by 2.5% in the first quarter. Yousif Capital Management LLC now owns 25,697 shares of the company's stock worth $5,379,000 after purchasing an additional 634 shares in the last quarter. Olstein Capital Management L.P. lifted its stake in L3Harris Technologies by 30.4% during the first quarter. Olstein Capital Management L.P. now owns 36,500 shares of the company's stock worth $7,640,000 after purchasing an additional 8,500 shares during the period. Farther Finance Advisors LLC boosted its holdings in L3Harris Technologies by 21.3% during the first quarter. Farther Finance Advisors LLC now owns 1,672 shares of the company's stock valued at $351,000 after purchasing an additional 294 shares in the last quarter. Finally, Rheos Capital Works Inc. grew its stake in shares of L3Harris Technologies by 80.4% in the 1st quarter. Rheos Capital Works Inc. now owns 67,300 shares of the company's stock valued at $14,087,000 after purchasing an additional 30,000 shares during the period. Institutional investors own 84.76% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on LHX. Citigroup boosted their price target on L3Harris Technologies from $245.00 to $280.00 and gave the company a "buy" rating in a research note on Monday. Truist Financial lowered their target price on shares of L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating on the stock in a report on Friday, April 25th. The Goldman Sachs Group upgraded shares of L3Harris Technologies from a "sell" rating to a "buy" rating and boosted their price target for the company from $198.00 to $263.00 in a research report on Friday, April 11th. Jefferies Financial Group dropped their price objective on shares of L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating for the company in a report on Monday, March 31st. Finally, Wells Fargo & Company cut their target price on shares of L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $258.75.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, insider Edward J. Zoiss sold 2,000 shares of the business's stock in a transaction that occurred on 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 of the company's stock, 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 Securities & Exchange Commission, which is available through this link. 0.72% of the stock is currently owned by insiders.

L3Harris Technologies Trading Up 0.8%

Shares of LHX traded up $2.00 during trading hours on Wednesday, reaching $246.79. The stock had a trading volume of 1,558,529 shares, compared to its average volume of 1,109,282. The company has a market cap of $46.14 billion, a P/E ratio of 31.36, a P/E/G ratio of 2.42 and a beta of 0.74. L3Harris Technologies, Inc. has a 52 week low of $193.09 and a 52 week high of $265.74. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The firm has a 50-day moving average of $224.92 and a 200 day moving average of $218.11.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The company reported $2.41 EPS for the quarter, topping analysts' consensus estimates of $2.32 by $0.09. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. The company had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.29 billion. During the same quarter last year, the firm posted $3.06 earnings per share. L3Harris Technologies's revenue was down 1.5% compared to the same quarter last year. On average, sell-side analysts expect that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be issued a $1.20 dividend. The ex-dividend date is Tuesday, June 3rd. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.94%. L3Harris Technologies's dividend payout ratio (DPR) is presently 56.94%.

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.