First Citizens Bank & Trust Co. Sells 3,181 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

First Citizens Bank & Trust Co. trimmed its position in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 30.5% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,259 shares of the company's stock after selling 3,181 shares during the period. First Citizens Bank & Trust Co.'s holdings in L3Harris Technologies were worth $1,519,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Meeder Asset Management Inc. boosted its stake in L3Harris Technologies by 234.3% in the fourth quarter. Meeder Asset Management Inc. now owns 117 shares of the company's stock valued at $25,000 after acquiring an additional 82 shares during the period. Millstone Evans Group LLC bought a new position in shares of L3Harris Technologies in the fourth quarter valued at approximately $26,000. Bradley & Co. Private Wealth Management LLC bought a new position in L3Harris Technologies during the 4th quarter valued at $27,000. Roxbury Financial LLC acquired a new position in shares of L3Harris Technologies in the 4th quarter worth approximately $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC raised its position in shares of L3Harris Technologies by 336.4% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company's stock worth $30,000 after purchasing an additional 111 shares during the period. 84.76% of the stock is owned by institutional investors.

Insider Activity at L3Harris Technologies

In other news, insider Edward J. Zoiss sold 2,000 shares of the stock in a transaction dated Tuesday, May 27th. The shares were 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. This represents 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 owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on LHX shares. The Goldman Sachs Group raised L3Harris Technologies from a "sell" rating to a "buy" rating and increased their price objective for the stock from $198.00 to $263.00 in a research note on Friday, April 11th. Citigroup boosted their target price on L3Harris Technologies from $245.00 to $280.00 and gave the stock a "buy" rating in a report on Monday. 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 report on Tuesday, April 8th. UBS Group raised their price objective on shares of L3Harris Technologies from $222.00 to $226.00 and gave the stock a "neutral" rating in a research note on Monday, April 28th. Finally, Truist Financial lowered their price target on L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $258.75.

L3Harris Technologies Stock Performance

Shares of LHX stock traded down $0.53 during midday trading on Tuesday, hitting $244.89. 926,968 shares of the company were exchanged, compared to its average volume of 1,103,300. The firm has a market capitalization of $45.78 billion, a P/E ratio of 31.12, a PEG ratio of 2.42 and a beta of 0.74. The firm's 50 day moving average price is $224.21 and its two-hundred day moving average price is $217.92. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. L3Harris Technologies, Inc. has a 52 week low of $193.09 and a 52 week high of $265.74.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The company reported $2.41 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.09. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. The business had revenue of $5.13 billion during the quarter, compared to analysts' expectations of $5.29 billion. During the same quarter in the prior year, the business posted $3.06 earnings per share. L3Harris Technologies's revenue was down 1.5% compared to the same quarter last year. As a group, equities research analysts anticipate that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

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

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.