Riverview Trust Co Takes Position in L3Harris Technologies, Inc. (NYSE:LHX)

Riverview Trust Co bought a new position in L3Harris Technologies, Inc. (NYSE:LHX) during the 1st quarter, Holdings Channel reports. The firm bought 517 shares of the company’s stock, valued at approximately $110,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Strong Tower Advisory Services lifted its holdings in shares of L3Harris Technologies by 0.9% during the fourth quarter. Strong Tower Advisory Services now owns 5,363 shares of the company’s stock worth $1,130,000 after purchasing an additional 49 shares during the period. Blossom Wealth Management lifted its holdings in shares of L3Harris Technologies by 2.1% during the fourth quarter. Blossom Wealth Management now owns 2,465 shares of the company’s stock worth $519,000 after purchasing an additional 51 shares during the period. JFS Wealth Advisors LLC lifted its holdings in shares of L3Harris Technologies by 12.2% during the fourth quarter. JFS Wealth Advisors LLC now owns 488 shares of the company’s stock worth $103,000 after purchasing an additional 53 shares during the period. Parkside Financial Bank & Trust lifted its holdings in shares of L3Harris Technologies by 13.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 504 shares of the company’s stock worth $106,000 after purchasing an additional 58 shares during the period. Finally, Twin Lakes Capital Management LLC lifted its holdings in shares of L3Harris Technologies by 0.4% during the third quarter. Twin Lakes Capital Management LLC now owns 14,695 shares of the company’s stock worth $2,559,000 after purchasing an additional 60 shares during the period. 84.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

L3Harris Technologies Trading Down 0.4 %

NYSE:LHX opened at $224.65 on Wednesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.98 and a quick ratio of 0.80. The firm has a 50-day moving average of $218.45 and a 200-day moving average of $212.40. The company has a market cap of $42.61 billion, a PE ratio of 36.47, a PEG ratio of 1.89 and a beta of 0.71. L3Harris Technologies, Inc. has a one year low of $160.25 and a one year high of $228.13.

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

L3Harris Technologies Dividend Announcement

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

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, 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 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 filing with the SEC, which can be accessed through this hyperlink. In related news, VP Sean J. Stackley sold 3,354 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $218.00, for a total transaction of $731,172.00. Following the sale, the vice president now directly owns 17,540 shares in the company, valued at approximately $3,823,720. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher E. Kubasik sold 26,190 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $225.70, for a total transaction of $5,911,083.00. Following the sale, the chief executive officer now owns 120,326 shares in the company, valued at $27,157,578.20. The disclosure for this sale can be found here. Insiders have sold a total of 82,898 shares of company stock worth $18,558,167 over the last three months. 0.87% of the stock is currently owned by insiders.

L3Harris Technologies Company 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.