Riverview Trust Co Buys Shares of 517 L3Harris Technologies, Inc. (NYSE:LHX)

Riverview Trust Co bought a new stake in L3Harris Technologies, Inc. (NYSE:LHX) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 517 shares of the company’s stock, valued at approximately $110,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of L3Harris Technologies by 15.4% in the 4th quarter. Vanguard Group Inc. now owns 20,186,512 shares of the company’s stock valued at $4,251,683,000 after purchasing an additional 2,692,771 shares during the last quarter. Capital World Investors grew its stake in shares of L3Harris Technologies by 26.0% in the 4th quarter. Capital World Investors now owns 16,056,272 shares of the company’s stock valued at $3,381,784,000 after purchasing an additional 3,308,506 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of L3Harris Technologies by 0.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,585,362 shares of the company’s stock valued at $2,018,870,000 after buying an additional 40,448 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of L3Harris Technologies by 2.0% in the fourth quarter. Wells Fargo & Company MN now owns 5,147,546 shares of the company’s stock valued at $1,084,176,000 after buying an additional 101,708 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of L3Harris Technologies by 34.7% in the fourth quarter. Wellington Management Group LLP now owns 4,416,904 shares of the company’s stock valued at $930,288,000 after buying an additional 1,138,549 shares in the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 26,190 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $225.70, for a total value of $5,911,083.00. Following the completion of the transaction, the chief executive officer now directly owns 120,326 shares in the company, valued at $27,157,578.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other L3Harris Technologies news, VP Sean J. Stackley sold 3,354 shares of the business’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $216.73, for a total transaction of $726,912.42. Following the completion of the sale, the vice president now owns 14,186 shares of the company’s stock, valued at $3,074,531.78. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Christopher E. Kubasik sold 26,190 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $225.70, for a total value of $5,911,083.00. Following the sale, the chief executive officer now directly owns 120,326 shares of the company’s stock, valued at approximately $27,157,578.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 82,898 shares of company stock worth $18,558,167. 0.87% of the stock is currently owned by insiders.

L3Harris Technologies Stock Performance

NYSE LHX opened at $224.65 on Wednesday. L3Harris Technologies, Inc. has a fifty-two week low of $160.25 and a fifty-two week high of $228.13. The stock has a market cap of $42.61 billion, a price-to-earnings ratio of 36.47, a price-to-earnings-growth ratio of 1.89 and a beta of 0.71. The business has a fifty day moving average of $218.45 and a 200-day moving average of $212.40. The company has a quick ratio of 0.80, a current ratio of 0.98 and a debt-to-equity ratio of 0.59.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, April 25th. The company reported $3.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.89 by $0.17. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The company had revenue of $5.21 billion during the quarter, compared to analysts’ expectations of $5.11 billion. During the same period in the previous year, the firm posted $2.86 earnings per share. The business’s revenue for the quarter was up 16.6% compared to the same quarter last year. As a group, analysts predict that L3Harris Technologies, Inc. will post 12.93 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th were paid a $1.16 dividend. The ex-dividend date was Tuesday, June 4th. This represents a $4.64 annualized dividend and a yield of 2.07%. L3Harris Technologies’s payout ratio is currently 75.32%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Alembic Global Advisors upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price target on the stock in a research note on Monday, April 22nd. Barclays lifted their price target on L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. Wells Fargo & Company lifted their price target on L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research note on Tuesday, May 7th. Royal Bank of Canada lifted their price target on L3Harris Technologies from $245.00 to $250.00 and gave the company an “outperform” rating in a research note on Monday, April 29th. Finally, JPMorgan Chase & Co. lifted their price objective on L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $231.80.

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.