Glenview Trust co Invests $274,000 in L3Harris Technologies, Inc. (NYSE:LHX)

Glenview Trust co purchased a new position in shares of L3Harris Technologies, Inc. (NYSE:LHX) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,301 shares of the company’s stock, valued at approximately $274,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Geode Capital Management LLC grew its holdings in shares of L3Harris Technologies by 1.3% during the third quarter. Geode Capital Management LLC now owns 4,734,832 shares of the company’s stock worth $1,122,630,000 after buying an additional 59,008 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of L3Harris Technologies during the fourth quarter worth about $398,507,000. Massachusetts Financial Services Co. MA grew its holdings in shares of L3Harris Technologies by 5.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,542,333 shares of the company’s stock worth $366,875,000 after buying an additional 85,882 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of L3Harris Technologies by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,210,107 shares of the company’s stock worth $254,461,000 after buying an additional 32,979 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of L3Harris Technologies by 29.9% during the third quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock worth $184,245,000 after buying an additional 178,407 shares in the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

L3Harris Technologies Trading Up 0.9 %

NYSE LHX opened at $212.93 on Tuesday. The company’s fifty day simple moving average is $209.44 and its 200-day simple moving average is $226.84. L3Harris Technologies, Inc. has a 52 week low of $193.09 and a 52 week high of $265.74. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. The stock has a market cap of $39.97 billion, a P/E ratio of 27.06, a PEG ratio of 2.42 and a beta of 0.74.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, January 30th. The company reported $3.47 EPS for the quarter, topping analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. Equities research analysts predict that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Monday, March 10th will be given a dividend of $1.20 per share. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend is Monday, March 10th. L3Harris Technologies’s payout ratio is presently 60.99%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on LHX. Bank of America decreased their target price on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. UBS Group raised their target price on shares of L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Barclays decreased their target price on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Argus raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 target price on the stock in a research report on Tuesday, November 26th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a research report on Thursday, January 2nd. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $261.40.

Insider Transactions at L3Harris Technologies

In related news, insider Edward J. Zoiss sold 1,783 shares of L3Harris Technologies stock in a transaction on 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 approximately $6,475,517.60. The trade was a 5.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies stock in a transaction on Monday, March 10th. The stock was sold at an average price of $226.00, for a total transaction of $718,228.00. Following the completion of the sale, the insider now owns 2,797 shares of the company’s stock, valued at approximately $632,122. This trade represents a 53.19 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,098 shares of company stock valued at $1,760,588. Corporate insiders own 0.82% of the company’s stock.

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.