Texas Bank & Trust Co Takes $294,000 Position in L3Harris Technologies, Inc. (NYSE:LHX)

Texas Bank & Trust Co purchased a new position in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 1,400 shares of the company's stock, valued at approximately $294,000.

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

Insider Buying and Selling at L3Harris Technologies

In other news, insider Edward J. Zoiss sold 1,783 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $211.48, for a total value of $377,068.84. Following the completion of the sale, the insider now owns 30,620 shares in the company, valued at $6,475,517.60. This represents a 5.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jon Rambeau sold 3,178 shares of the company's 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 completion of the transaction, the insider now directly owns 2,797 shares of the company's stock, valued at approximately $632,122. This represents a 53.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by company insiders.

L3Harris Technologies Trading Up 3.0%

NYSE LHX traded up $6.93 during mid-day trading on Thursday, reaching $239.52. 3,695,846 shares of the stock were exchanged, compared to its average volume of 1,062,783. The stock has a market cap of $44.78 billion, a P/E ratio of 30.43, a P/E/G ratio of 2.42 and a beta of 0.72. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. L3Harris Technologies, Inc. has a one year low of $193.09 and a one year high of $265.74. The stock has a 50 day simple moving average of $215.94 and a 200-day simple moving average of $219.21.

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

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be paid a $1.20 dividend. The ex-dividend date is Tuesday, June 3rd. This represents a $4.80 dividend on an annualized basis and a yield of 2.00%. L3Harris Technologies's dividend payout ratio (DPR) is presently 56.94%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on LHX shares. Bank of America decreased their target price 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. Morgan Stanley lowered their price objective on L3Harris Technologies from $260.00 to $250.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 4th. UBS Group boosted their price target on L3Harris Technologies from $222.00 to $226.00 and gave the company a "neutral" rating in a research note on Monday, April 28th. JPMorgan Chase & Co. cut their price target on shares of L3Harris Technologies from $265.00 to $255.00 and set an "overweight" rating for the company in a report on Friday, January 31st. Finally, 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. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $256.56.

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.