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

Glenview Trust co bought a new position in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,301 shares of the company's stock, valued at approximately $274,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Globeflex Capital L P bought a new position in L3Harris Technologies in the fourth quarter valued at approximately $105,000. Frank Rimerman Advisors LLC grew its stake in shares of L3Harris Technologies by 8.3% in the fourth quarter. Frank Rimerman Advisors LLC now owns 1,425 shares of the company's stock valued at $300,000 after buying an additional 109 shares in the last quarter. First National Trust Co grew its stake in shares of L3Harris Technologies by 5.0% in the fourth quarter. First National Trust Co now owns 28,426 shares of the company's stock valued at $5,977,000 after buying an additional 1,342 shares in the last quarter. Carret Asset Management LLC increased its holdings in L3Harris Technologies by 3.0% during the fourth quarter. Carret Asset Management LLC now owns 18,708 shares of the company's stock worth $3,934,000 after buying an additional 540 shares during the last quarter. Finally, Wellington Shields Capital Management LLC raised its position in L3Harris Technologies by 4.0% during the fourth quarter. Wellington Shields Capital Management LLC now owns 10,155 shares of the company's stock worth $2,135,000 after acquiring an additional 386 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Stock Performance

Shares of NYSE:LHX traded down $1.74 on Friday, reaching $208.15. 1,931,895 shares of the company's stock were exchanged, compared to its average volume of 923,339. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. L3Harris Technologies, Inc. has a twelve month low of $193.09 and a twelve month high of $265.74. The company has a fifty day moving average of $209.80 and a 200-day moving average of $226.46. The company has a market capitalization of $39.07 billion, a price-to-earnings ratio of 26.45, a PEG ratio of 2.42 and a beta of 0.74.

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L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. On average, 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 disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 10th will be paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 2.31%. This is an increase from L3Harris Technologies's previous quarterly dividend of $1.16. The ex-dividend date is Monday, March 10th. L3Harris Technologies's dividend payout ratio is presently 60.99%.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Jon Rambeau sold 3,178 shares of the business's stock in a transaction dated Monday, March 10th. The stock was 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 in the company, valued at approximately $632,122. The trade was a 53.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Ross Niebergall sold 1,373 shares of the firm's stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $210.06, for a total transaction of $288,412.38. Following the completion of the transaction, the insider now owns 5,049 shares of the company's stock, valued at approximately $1,060,592.94. This trade represents a 21.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,098 shares of company stock valued at $1,760,588 in the last ninety days. 0.72% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on LHX. Raymond James downgraded shares of L3Harris Technologies from an "outperform" rating to a "market perform" rating in a research report on Thursday, January 2nd. Truist Financial reduced their price target on L3Harris Technologies from $283.00 to $274.00 and set a "buy" rating for the company in a report on Friday, January 31st. JPMorgan Chase & Co. dropped their price objective on L3Harris Technologies from $265.00 to $255.00 and set an "overweight" rating on the stock in a research note on Friday, January 31st. Barclays cut their price objective on L3Harris Technologies from $290.00 to $255.00 and set an "overweight" rating for the company in a research report on Monday, January 6th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on L3Harris Technologies from $250.00 to $229.00 and set a "hold" rating on the stock in a report on Thursday, January 2nd. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $261.40.

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.