Coastline Trust Co Sells 50 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Coastline Trust Co reduced its position in L3Harris Technologies, Inc. (NYSE:LHX – Get Rating) by 0.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,585 shares of the company’s stock after selling 50 shares during the period. Coastline Trust Co’s holdings in L3Harris Technologies were worth $1,190,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Moors & Cabot Inc. raised its position in L3Harris Technologies by 319.0% in the 3rd quarter. Moors & Cabot Inc. now owns 75,000 shares of the company’s stock valued at $82,000 after buying an additional 57,099 shares during the last quarter. Mackenzie Financial Corp raised its position in L3Harris Technologies by 53.8% in the 3rd quarter. Mackenzie Financial Corp now owns 13,451 shares of the company’s stock valued at $2,962,000 after buying an additional 4,706 shares during the last quarter. Ieq Capital LLC raised its position in L3Harris Technologies by 23.0% in the 3rd quarter. Ieq Capital LLC now owns 3,205 shares of the company’s stock valued at $706,000 after buying an additional 600 shares during the last quarter. Commerce Bank raised its position in L3Harris Technologies by 5.4% in the 3rd quarter. Commerce Bank now owns 19,603 shares of the company’s stock valued at $4,317,000 after buying an additional 997 shares during the last quarter. Finally, Pinebridge Investments L.P. raised its position in L3Harris Technologies by 39.0% in the 3rd quarter. Pinebridge Investments L.P. now owns 7,068 shares of the company’s stock valued at $1,557,000 after buying an additional 1,983 shares during the last quarter. Institutional investors own 80.15% of the company’s stock.

LHX traded up $1.88 during midday trading on Tuesday, hitting $241.13. The stock had a trading volume of 15,727 shares, compared to its average volume of 1,519,631. The company has a market cap of $46.51 billion, a P/E ratio of 25.73, a price-to-earnings-growth ratio of 4.09 and a beta of 0.76. The business has a fifty day moving average of $251.19 and a 200 day moving average of $230.46. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.37 and a current ratio of 1.32. L3Harris Technologies, Inc. has a 1 year low of $200.71 and a 1 year high of $279.71.

L3Harris Technologies (NYSE:LHX – Get Rating) last announced its quarterly earnings data on Thursday, April 28th. The company reported $3.12 earnings per share for the quarter, beating the consensus estimate of $3.06 by $0.06. L3Harris Technologies had a return on equity of 13.18% and a net margin of 10.68%. The firm had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.13 billion. During the same quarter in the previous year, the company posted $3.18 earnings per share. The business’s revenue was down 10.2% on a year-over-year basis. On average, equities research analysts anticipate that L3Harris Technologies, Inc. will post 13.58 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 17th. Investors of record on Friday, June 3rd will be issued a dividend of $1.12 per share. The ex-dividend date is Thursday, June 2nd. This represents a $4.48 dividend on an annualized basis and a dividend yield of 1.86%. L3Harris Technologies’s dividend payout ratio is presently 48.17%.

Several brokerages have recently issued reports on LHX. Jefferies Financial Group decreased their target price on L3Harris Technologies from $320.00 to $300.00 in a research report on Monday, May 2nd. Wolfe Research raised L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $266.00 target price for the company in a research report on Tuesday, January 11th. Wells Fargo & Company raised their target price on L3Harris Technologies from $240.00 to $291.00 and gave the company an “overweight” rating in a research report on Monday, March 7th. StockNews.com lowered L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Friday, April 29th. Finally, Susquehanna Bancshares decreased their price objective on L3Harris Technologies from $302.00 to $298.00 in a report on Monday, May 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $265.09.

In related news, insider Edward J. Zoiss sold 4,730 shares of the company’s stock in a transaction that occurred on Wednesday, February 9th. The stock was sold at an average price of $220.00, for a total transaction of $1,040,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is owned by corporate insiders.

L3Harris Technologies Company Profile (Get Rating)

L3Harris Technologies, Inc, an aerospace and defense technology company, provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides multi-mission intelligence, surveillance, and reconnaissance (ISR) systems; and communication systems, as well as fleet management support, sensor development, modification, and periodic depot maintenance services for ISR and airborne missions.

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