Comerica Bank Has $20.04 Million Stock Holdings in L3Harris Technologies Inc $LHX

Comerica Bank lessened its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 2.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 68,269 shares of the company’s stock after selling 1,818 shares during the period. Comerica Bank’s holdings in L3Harris Technologies were worth $20,042,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Ashton Thomas Private Wealth LLC grew its holdings in L3Harris Technologies by 3.3% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 5,482 shares of the company’s stock worth $1,609,000 after acquiring an additional 176 shares during the period. First National Bank & Trust Co. of Newtown grew its holdings in shares of L3Harris Technologies by 4.2% in the 4th quarter. First National Bank & Trust Co. of Newtown now owns 1,474 shares of the company’s stock valued at $433,000 after buying an additional 60 shares during the period. Pictet Asset Management Holding SA grew its holdings in shares of L3Harris Technologies by 5.1% in the 4th quarter. Pictet Asset Management Holding SA now owns 76,415 shares of the company’s stock valued at $22,433,000 after buying an additional 3,719 shares during the period. Inscription Capital LLC grew its holdings in shares of L3Harris Technologies by 41.6% in the 4th quarter. Inscription Capital LLC now owns 1,915 shares of the company’s stock valued at $562,000 after buying an additional 563 shares during the period. Finally, Verdence Capital Advisors LLC grew its holdings in shares of L3Harris Technologies by 6.0% in the 4th quarter. Verdence Capital Advisors LLC now owns 1,737 shares of the company’s stock valued at $510,000 after buying an additional 99 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Activity

In other news, insider Jon Rambeau sold 5,528 shares of L3Harris Technologies stock in a transaction that occurred on 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 sale, the insider directly owned 7,660 shares in the company, valued at $2,836,651.20. This trade represents a 41.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Samir Mehta sold 5,528 shares of L3Harris Technologies stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $370.32, for a total transaction of $2,047,128.96. Following the completion of the sale, the insider owned 7,756 shares in the company, valued at $2,872,201.92. This trade represents a 41.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 19,025 shares of company stock worth $6,824,370 over the last ninety days. Insiders own 0.68% of the company’s stock.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $320.54 on Tuesday. The firm has a market cap of $59.87 billion, a PE ratio of 37.58, a PEG ratio of 1.60 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 1-year low of $214.10 and a 1-year high of $379.23. The company has a fifty day moving average price of $353.99 and a 200 day moving average price of $323.14.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, topping analysts’ consensus estimates of $2.76 by $0.10. The firm had revenue of $5.65 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the business earned $3.47 EPS. Research analysts predict that L3Harris Technologies Inc will post 11.53 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $5.00 dividend on an annualized basis and a yield of 1.6%. L3Harris Technologies’s dividend payout ratio is presently 58.62%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LHX. Sanford C. Bernstein reissued an “outperform” rating on shares of L3Harris Technologies in a report on Friday, February 6th. Citigroup boosted their price target on shares of L3Harris Technologies from $389.00 to $418.00 and gave the company a “buy” rating in a report on Thursday, February 5th. JPMorgan Chase & Co. boosted their price target on shares of L3Harris Technologies from $340.00 to $395.00 and gave the company an “overweight” rating in a report on Thursday, February 5th. Morgan Stanley boosted their price target on shares of L3Harris Technologies from $367.00 to $390.00 and gave the company an “overweight” rating in a report on Monday, February 2nd. Finally, Argus raised shares of L3Harris Technologies to a “strong-buy” rating in a report on Friday, February 27th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $349.55.

L3Harris Technologies Profile

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.