First Commonwealth Financial Corp PA Raises Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

First Commonwealth Financial Corp PA raised its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 3.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,857 shares of the company’s stock after buying an additional 84 shares during the quarter. First Commonwealth Financial Corp PA’s holdings in L3Harris Technologies were worth $680,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of LHX. EntryPoint Capital LLC boosted its stake in L3Harris Technologies by 70.4% during the first quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock worth $36,000 after acquiring an additional 69 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its stake in shares of L3Harris Technologies by 2.8% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 7,074 shares of the company’s stock worth $1,507,000 after buying an additional 193 shares during the last quarter. Comerica Bank increased its position in L3Harris Technologies by 5.1% during the 1st quarter. Comerica Bank now owns 86,019 shares of the company’s stock valued at $18,331,000 after buying an additional 4,148 shares in the last quarter. Plato Investment Management Ltd raised its stake in L3Harris Technologies by 1,052.6% during the first quarter. Plato Investment Management Ltd now owns 3,331 shares of the company’s stock valued at $710,000 after buying an additional 3,042 shares during the last quarter. Finally, Virtu Financial LLC bought a new stake in L3Harris Technologies in the first quarter worth $1,960,000. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

Shares of L3Harris Technologies stock traded down $0.20 during mid-day trading on Wednesday, reaching $245.38. 119,746 shares of the stock traded hands, compared to its average volume of 906,598. The business has a 50-day moving average of $245.35 and a 200 day moving average of $233.72. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $46.54 billion, a PE ratio of 38.79, a PEG ratio of 2.01 and a beta of 0.72. L3Harris Technologies, Inc. has a fifty-two week low of $187.68 and a fifty-two week high of $265.74.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, October 24th. The company reported $3.34 EPS for the quarter, topping analysts’ consensus estimates of $3.27 by $0.07. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The firm had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.28 billion. During the same quarter last year, the business posted $3.19 earnings per share. The firm’s revenue was up 7.7% compared to the same quarter last year. On average, analysts predict that L3Harris Technologies, Inc. will post 13.09 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend is Monday, November 18th. L3Harris Technologies’s dividend payout ratio is presently 73.30%.

Insider Activity

In related news, insider Ross Niebergall sold 2,988 shares of the business’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total value of $731,103.84. Following the sale, the insider now owns 13,328 shares in the company, valued at approximately $3,261,095.04. The trade was a 18.31 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders have sold 8,964 shares of company stock valued at $2,179,119. Company insiders own 0.87% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on LHX. Citigroup increased their price objective on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Barclays raised their price target on shares of L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Morgan Stanley cut L3Harris Technologies from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $275.00 to $257.00 in a research report on Friday, August 9th. StockNews.com raised L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $269.67.

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.