Truist Financial Corp Cuts Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Truist Financial Corp lessened its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 51.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 261,802 shares of the company’s stock after selling 276,864 shares during the quarter. Truist Financial Corp’s holdings in L3Harris Technologies were worth $51,376,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. State of Wyoming raised its position in shares of L3Harris Technologies by 27.1% during the fourth quarter. State of Wyoming now owns 230 shares of the company’s stock valued at $48,000 after buying an additional 49 shares during the last quarter. Baystate Wealth Management LLC increased its holdings in shares of L3Harris Technologies by 12.4% in the 1st quarter. Baystate Wealth Management LLC now owns 471 shares of the company’s stock worth $92,000 after buying an additional 52 shares during the last quarter. Apollon Wealth Management LLC raised its position in shares of L3Harris Technologies by 0.9% during the 4th quarter. Apollon Wealth Management LLC now owns 5,925 shares of the company’s stock valued at $1,234,000 after buying an additional 52 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of L3Harris Technologies by 2.2% in the 4th quarter. Exchange Traded Concepts LLC now owns 2,618 shares of the company’s stock valued at $545,000 after acquiring an additional 56 shares during the last quarter. Finally, Kentucky Retirement Systems increased its stake in L3Harris Technologies by 0.4% during the fourth quarter. Kentucky Retirement Systems now owns 15,044 shares of the company’s stock worth $3,132,000 after acquiring an additional 65 shares during the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Trading Up 0.7 %

LHX opened at $186.45 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.42. The firm has a market cap of $35.26 billion, a price-to-earnings ratio of 44.39, a PEG ratio of 5.06 and a beta of 0.71. L3Harris Technologies, Inc. has a 12 month low of $174.55 and a 12 month high of $255.10. The stock has a fifty day moving average price of $192.01 and a 200-day moving average price of $197.07.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Wednesday, July 26th. The company reported $2.97 earnings per share for the quarter, beating analysts’ consensus estimates of $2.94 by $0.03. The business had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.37 billion. L3Harris Technologies had a net margin of 4.46% and a return on equity of 12.82%. The company’s revenue was up 13.5% compared to the same quarter last year. During the same period last year, the business earned $3.23 EPS. As a group, equities research analysts anticipate that L3Harris Technologies, Inc. will post 12.33 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 19th. Stockholders of record on Tuesday, September 5th will be given a dividend of $1.14 per share. This represents a $4.56 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date is Friday, September 1st. L3Harris Technologies’s payout ratio is presently 108.57%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on LHX shares. Robert W. Baird dropped their target price on L3Harris Technologies from $241.00 to $222.00 in a report on Monday, May 1st. StockNews.com initiated coverage on L3Harris Technologies in a research report on Thursday, May 18th. They set a “buy” rating for the company. Wells Fargo & Company upped their price target on shares of L3Harris Technologies from $202.00 to $204.00 and gave the stock an “equal weight” rating in a report on Friday, July 28th. Bank of America decreased their price objective on shares of L3Harris Technologies from $230.00 to $210.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, Credit Suisse Group dropped their target price on shares of L3Harris Technologies from $240.00 to $234.00 in a research note on Monday, May 1st. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $240.75.

L3Harris Technologies Company Profile

L3Harris Technologies, Inc, an aerospace and defense technology company, provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides multi-mission intelligence, surveillance, and reconnaissance (ISR) systems; and communication systems, as well as fleet management support, sensor development, modification, and periodic depot maintenance services for ISR and airborne missions.