Hilltop National Bank Invests $132,000 in L3Harris Technologies Inc $LHX

Hilltop National Bank purchased a new stake in L3Harris Technologies Inc (NYSE:LHX) during the 2nd quarter, HoldingsChannel.com reports. The firm purchased 526 shares of the company’s stock, valued at approximately $132,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Independence Bank of Kentucky grew its position in shares of L3Harris Technologies by 44.4% during the 2nd quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock worth $33,000 after buying an additional 40 shares during the period. DB Fitzpatrick & Co Inc grew its holdings in L3Harris Technologies by 1.0% during the 2nd quarter. DB Fitzpatrick & Co Inc now owns 4,450 shares of the company’s stock worth $1,116,000 after acquiring an additional 42 shares during the period. Norway Savings Bank raised its position in shares of L3Harris Technologies by 3.0% during the 2nd quarter. Norway Savings Bank now owns 1,490 shares of the company’s stock valued at $374,000 after acquiring an additional 44 shares during the last quarter. Salem Investment Counselors Inc. lifted its stake in shares of L3Harris Technologies by 3.7% in the 2nd quarter. Salem Investment Counselors Inc. now owns 1,253 shares of the company’s stock valued at $314,000 after purchasing an additional 45 shares during the period. Finally, BankPlus Wealth Management LLC boosted its position in shares of L3Harris Technologies by 2.2% in the 2nd quarter. BankPlus Wealth Management LLC now owns 2,106 shares of the company’s stock worth $528,000 after purchasing an additional 45 shares during the last quarter. 84.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

LHX has been the subject of a number of recent analyst reports. Wall Street Zen upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Friday, August 22nd. Robert W. Baird increased their price target on shares of L3Harris Technologies from $274.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, July 25th. UBS Group lifted their price objective on shares of L3Harris Technologies from $262.00 to $280.00 and gave the stock a “neutral” rating in a research note on Friday, July 25th. Citigroup upped their target price on shares of L3Harris Technologies from $300.00 to $323.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Finally, Royal Bank Of Canada lifted their price target on shares of L3Harris Technologies from $265.00 to $280.00 and gave the stock a “sector perform” rating in a research report on Friday, July 25th. Fourteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, L3Harris Technologies has an average rating of “Moderate Buy” and a consensus target price of $279.47.

Insider Activity

In related news, CEO Christopher E. Kubasik sold 83,000 shares of L3Harris Technologies stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $279.90, for a total value of $23,231,700.00. Following the sale, the chief executive officer owned 145,578 shares of the company’s stock, valued at approximately $40,747,282.20. This trade represents a 36.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 195,138 shares of company stock worth $53,571,774 in the last ninety days. 0.72% of the stock is currently owned by company insiders.

L3Harris Technologies Stock Performance

Shares of LHX opened at $297.52 on Friday. The firm has a market cap of $55.67 billion, a P/E ratio of 33.24, a PEG ratio of 2.17 and a beta of 0.76. L3Harris Technologies Inc has a twelve month low of $193.09 and a twelve month high of $305.94. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04. The firm’s 50 day moving average price is $279.07 and its two-hundred day moving average price is $249.82.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, July 24th. The company reported $2.78 EPS for the quarter, topping analysts’ consensus estimates of $2.48 by $0.30. The business had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.31 billion. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period last year, the business posted $3.24 earnings per share. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. On average, analysts forecast that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 22nd. Stockholders of record on Friday, September 5th were given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, September 5th. L3Harris Technologies’s dividend payout ratio is currently 53.63%.

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.