Coastline Trust Co Sells 175 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Coastline Trust Co trimmed its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 5.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,033 shares of the company’s stock after selling 175 shares during the quarter. Coastline Trust Co’s holdings in L3Harris Technologies were worth $638,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of LHX. Czech National Bank boosted its position in shares of L3Harris Technologies by 6.4% during the fourth quarter. Czech National Bank now owns 41,124 shares of the company’s stock worth $8,648,000 after buying an additional 2,480 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of L3Harris Technologies by 29.9% in the third quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock valued at $184,245,000 after purchasing an additional 178,407 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of L3Harris Technologies by 2.0% in the third quarter. Principal Financial Group Inc. now owns 220,269 shares of the company’s stock worth $52,395,000 after purchasing an additional 4,321 shares in the last quarter. Oliver Luxxe Assets LLC acquired a new position in L3Harris Technologies during the fourth quarter worth $3,954,000. Finally, BankPlus Wealth Management LLC bought a new position in L3Harris Technologies in the fourth quarter valued at $409,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on LHX shares. UBS Group increased their price objective on shares of L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Jefferies Financial Group reduced their price target on L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Morgan Stanley lowered their price target on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. The Goldman Sachs Group raised L3Harris Technologies from a “sell” rating to a “buy” rating and increased their price objective for the company from $198.00 to $263.00 in a report on Friday, April 11th. Finally, Barclays lowered their target price on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, L3Harris Technologies has a consensus rating of “Moderate Buy” and an average price target of $256.35.

L3Harris Technologies Stock Down 0.4 %

LHX opened at $218.01 on Friday. The stock has a fifty day moving average of $208.87 and a 200-day moving average of $223.18. The company has a market capitalization of $40.92 billion, a P/E ratio of 27.70, a P/E/G ratio of 2.42 and a beta of 0.71. L3Harris Technologies, Inc. has a fifty-two week low of $193.09 and a fifty-two week high of $265.74. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, topping the consensus estimate 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, equities analysts expect that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 2.20%. L3Harris Technologies’s dividend payout ratio (DPR) is 60.99%.

Insider Buying and Selling

In other L3Harris Technologies news, insider Jon Rambeau sold 3,178 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $226.00, for a total value of $718,228.00. Following the transaction, the insider now directly owns 2,797 shares of the company’s stock, valued at approximately $632,122. The trade was a 53.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Edward J. Zoiss sold 1,783 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $211.48, for a total transaction of $377,068.84. Following the transaction, the insider now owns 30,620 shares in the company, valued at $6,475,517.60. The trade was a 5.50 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.

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.