Douglas Lane & Associates LLC Has $201,000 Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Douglas Lane & Associates LLC boosted its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 6.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 958 shares of the company’s stock after purchasing an additional 61 shares during the quarter. Douglas Lane & Associates LLC’s holdings in L3Harris Technologies were worth $201,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of LHX. Diversified Trust Co grew its holdings in shares of L3Harris Technologies by 65.2% in the 4th quarter. Diversified Trust Co now owns 1,802 shares of the company’s stock valued at $379,000 after buying an additional 711 shares during the period. Oliver Luxxe Assets LLC bought a new position in L3Harris Technologies during the fourth quarter worth about $3,954,000. Fortem Financial Group LLC grew its stake in L3Harris Technologies by 13.1% in the fourth quarter. Fortem Financial Group LLC now owns 4,002 shares of the company’s stock valued at $842,000 after acquiring an additional 465 shares during the period. Bard Financial Services Inc. increased its holdings in shares of L3Harris Technologies by 6.1% in the fourth quarter. Bard Financial Services Inc. now owns 5,250 shares of the company’s stock worth $1,104,000 after acquiring an additional 300 shares in the last quarter. Finally, Central Pacific Bank Trust Division raised its position in shares of L3Harris Technologies by 23.0% during the fourth quarter. Central Pacific Bank Trust Division now owns 984 shares of the company’s stock worth $207,000 after purchasing an additional 184 shares during the period. Institutional investors own 84.76% of the company’s stock.

Insider Buying and Selling

In other news, insider Ross Niebergall sold 1,373 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $210.06, for a total value of $288,412.38. Following the completion of the sale, the insider now directly owns 5,049 shares of the company’s stock, valued at $1,060,592.94. This trade represents a 21.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Over the last 90 days, insiders sold 7,889 shares of company stock worth $1,800,572. Company insiders own 0.82% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on LHX. Sanford C. Bernstein upgraded L3Harris Technologies from a “market perform” rating to an “outperform” rating and decreased their price objective for the company from $289.00 to $267.00 in a research report on Wednesday. Wells Fargo & Company reduced their price target on shares of L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating for the company in a report on Wednesday, December 11th. Argus upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price objective on the stock in a report on Tuesday, November 26th. Susquehanna reduced their target price on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a research note on Wednesday. Finally, Wolfe Research upgraded L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price for the company in a report on Thursday, October 10th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $266.31.

L3Harris Technologies Stock Up 2.0 %

NYSE:LHX opened at $207.09 on Thursday. L3Harris Technologies, Inc. has a twelve month low of $200.18 and a twelve month high of $265.74. The firm has a market capitalization of $39.28 billion, a price-to-earnings ratio of 32.72, a price-to-earnings-growth ratio of 1.86 and a beta of 0.75. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The stock’s 50 day moving average price is $232.69 and its two-hundred day moving average price is $233.54.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, topping analysts’ consensus estimates of $3.27 by $0.07. The business had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.28 billion. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the previous year, the company earned $3.19 earnings per share. Equities research analysts expect that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Monday, November 18th were paid a $1.16 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $4.64 annualized dividend and a yield of 2.24%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 73.30%.

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.