Glenview Trust co Buys Shares of 1,301 L3Harris Technologies, Inc. (NYSE:LHX)

Glenview Trust co bought a new stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) in the 4th quarter, HoldingsChannel reports. The fund bought 1,301 shares of the company’s stock, valued at approximately $274,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Bradley & Co. Private Wealth Management LLC bought a new stake in L3Harris Technologies during the fourth quarter valued at $27,000. Roxbury Financial LLC bought a new stake in L3Harris Technologies during the fourth quarter valued at $30,000. Union Bancaire Privee UBP SA bought a new stake in L3Harris Technologies during the fourth quarter valued at $33,000. New Millennium Group LLC increased its stake in L3Harris Technologies by 776.2% during the fourth quarter. New Millennium Group LLC now owns 184 shares of the company’s stock valued at $39,000 after purchasing an additional 163 shares during the last quarter. Finally, Trust Co. of Vermont increased its stake in L3Harris Technologies by 78.9% during the fourth quarter. Trust Co. of Vermont now owns 195 shares of the company’s stock valued at $41,000 after purchasing an additional 86 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $212.93 on Tuesday. L3Harris Technologies, Inc. has a twelve month low of $193.09 and a twelve month 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 company has a market capitalization of $39.97 billion, a price-to-earnings ratio of 27.06, a PEG ratio of 2.42 and a beta of 0.74. The firm has a 50-day moving average of $209.44 and a two-hundred day moving average of $226.84.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, beating 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%. As a group, analysts expect that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

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

Analysts Set New Price Targets

LHX has been the subject of several analyst reports. Bank of America reduced their price target on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a report on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a report on Thursday, January 2nd. Susquehanna reduced their price target on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Wells Fargo & Company reduced their price target on shares of L3Harris Technologies from $269.00 to $268.00 and set an “overweight” rating for the company in a report on Friday, March 7th. Finally, UBS Group boosted their price target on shares of L3Harris Technologies from $228.00 to $237.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, L3Harris Technologies has an average rating of “Moderate Buy” and an average target price of $261.40.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 1,764 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $213.65, for a total transaction of $376,878.60. Following the completion of the sale, the insider now directly owns 6,812 shares of the company’s stock, valued at approximately $1,455,383.80. This represents a 20.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jon Rambeau sold 3,178 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $226.00, for a total transaction of $718,228.00. Following the sale, the insider now directly owns 2,797 shares of the company’s stock, valued at $632,122. This represents a 53.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,098 shares of company stock valued at $1,760,588. 0.82% of the stock is currently owned by corporate insiders.

About L3Harris Technologies

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.