NORTHSTAR ASSET MANAGEMENT Co Decreases Stock Position in L3Harris Technologies Inc $LHX

NORTHSTAR ASSET MANAGEMENT Co trimmed its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 21.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,300 shares of the company’s stock after selling 1,440 shares during the quarter. NORTHSTAR ASSET MANAGEMENT Co’s holdings in L3Harris Technologies were worth $1,556,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Burns J W & Co. Inc. NY boosted its stake in shares of L3Harris Technologies by 3.1% in the 4th quarter. Burns J W & Co. Inc. NY now owns 987 shares of the company’s stock valued at $290,000 after buying an additional 30 shares during the period. American National Bank & Trust increased its stake in shares of L3Harris Technologies by 44.8% during the fourth quarter. American National Bank & Trust now owns 97 shares of the company’s stock worth $28,000 after buying an additional 30 shares during the period. Rainier Family Wealth Inc. raised its holdings in L3Harris Technologies by 4.8% in the fourth quarter. Rainier Family Wealth Inc. now owns 700 shares of the company’s stock valued at $205,000 after acquiring an additional 32 shares in the last quarter. San Luis Wealth Advisors LLC raised its holdings in L3Harris Technologies by 5.1% in the fourth quarter. San Luis Wealth Advisors LLC now owns 705 shares of the company’s stock valued at $207,000 after acquiring an additional 34 shares in the last quarter. Finally, Wealth Quarterback LLC lifted its stake in L3Harris Technologies by 1.8% in the fourth quarter. Wealth Quarterback LLC now owns 2,011 shares of the company’s stock worth $590,000 after acquiring an additional 35 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on LHX. Sanford C. Bernstein reiterated an “outperform” rating on shares of L3Harris Technologies in a report on Friday, February 6th. UBS Group raised their price objective on shares of L3Harris Technologies to $323.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. Susquehanna reaffirmed a “positive” rating on shares of L3Harris Technologies in a research report on Thursday, January 15th. TD Cowen reissued a “buy” rating on shares of L3Harris Technologies in a report on Monday, January 5th. Finally, Morgan Stanley raised their price target on L3Harris Technologies from $367.00 to $390.00 and gave the company an “overweight” rating in a research note on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, L3Harris Technologies has an average rating of “Moderate Buy” and an average price target of $349.55.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Samir Mehta sold 5,528 shares of the business’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $370.32, for a total value of $2,047,128.96. Following the completion of the sale, the insider directly owned 7,756 shares of the company’s stock, valued at approximately $2,872,201.92. The trade was a 41.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jon Rambeau sold 5,528 shares of the company’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $370.32, for a total value of $2,047,128.96. Following the completion of the sale, the insider directly owned 7,660 shares of the company’s stock, valued at approximately $2,836,651.20. This trade represents a 41.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 19,025 shares of company stock worth $6,824,370 over the last 90 days. Corporate insiders own 0.68% of the company’s stock.

L3Harris Technologies Stock Down 1.0%

LHX stock opened at $349.76 on Friday. The stock has a market cap of $65.33 billion, a P/E ratio of 41.00, a PEG ratio of 1.79 and a beta of 0.62. The company has a current ratio of 1.19, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. L3Harris Technologies Inc has a twelve month low of $208.11 and a twelve month high of $379.23. The company’s 50 day moving average is $355.54 and its two-hundred day moving average is $321.69.

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

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.