L3Harris Technologies Inc $LHX Shares Sold by NORTHSTAR ASSET MANAGEMENT Co

NORTHSTAR ASSET MANAGEMENT Co reduced its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 21.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 5,300 shares of the company’s stock after selling 1,440 shares during the period. NORTHSTAR ASSET MANAGEMENT Co’s holdings in L3Harris Technologies were worth $1,556,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of LHX. Caitlin John LLC acquired a new stake in shares of L3Harris Technologies during the third quarter worth about $28,000. JPL Wealth Management LLC acquired a new position in L3Harris Technologies in the 3rd quarter valued at about $29,000. American National Bank & Trust increased its position in L3Harris Technologies by 44.8% in the 4th quarter. American National Bank & Trust now owns 97 shares of the company’s stock valued at $28,000 after acquiring an additional 30 shares during the period. Triumph Capital Management purchased a new stake in L3Harris Technologies during the 3rd quarter valued at approximately $31,000. Finally, GGM Financials LLC acquired a new stake in L3Harris Technologies during the 3rd quarter worth approximately $32,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on LHX. Sanford C. Bernstein reiterated an “outperform” rating on shares of L3Harris Technologies in a research note on Friday, February 6th. Truist Financial set a $364.00 price target on L3Harris Technologies in a report on Wednesday, January 14th. Vertical Research reiterated a “buy” rating and issued a $355.00 price objective on shares of L3Harris Technologies in a research report on Tuesday, January 13th. Weiss Ratings raised shares of L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, December 29th. Finally, Citigroup upped their price objective on shares of L3Harris Technologies from $389.00 to $418.00 and gave the stock a “buy” rating in a research report on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $349.55.

L3Harris Technologies Stock Down 1.0%

L3Harris Technologies stock opened at $349.76 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.19 and a quick ratio of 1.02. L3Harris Technologies Inc has a 1-year low of $208.11 and a 1-year high of $379.23. The company has a market cap of $65.33 billion, a PE ratio of 41.00, a price-to-earnings-growth ratio of 1.79 and a beta of 0.62. The stock’s 50 day moving average price is $355.54 and its 200 day moving average price is $321.69.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.76 by $0.10. L3Harris Technologies had a return on equity of 10.43% and a net margin of 7.35%.The firm had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.76 billion. During the same quarter in the prior year, the business posted $3.47 earnings per share. L3Harris Technologies’s revenue was up 2.3% compared to the same quarter last year. On average, sell-side 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 was paid on Friday, March 20th. Investors of record on Friday, March 6th were paid a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Friday, March 6th. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.20. L3Harris Technologies’s dividend payout ratio (DPR) is 58.62%.

Insider Buying and Selling

In other news, insider Samir Mehta sold 5,528 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $370.32, for a total transaction of $2,047,128.96. Following the completion of the transaction, the insider directly owned 7,756 shares of the company’s stock, valued at $2,872,201.92. This trade represents a 41.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jon Rambeau sold 5,528 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $370.32, for a total transaction of $2,047,128.96. Following the transaction, the insider directly owned 7,660 shares in the company, valued at $2,836,651.20. The trade was a 41.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 19,025 shares of company stock worth $6,824,370 in the last three months. Corporate insiders own 0.68% of the company’s stock.

About L3Harris Technologies

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.