L3Harris Technologies, Inc. (NYSE:LHX) Shares Acquired by Ocean Capital Management LLC

Ocean Capital Management LLC increased its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 1.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,161 shares of the company’s stock after buying an additional 91 shares during the quarter. L3Harris Technologies comprises approximately 0.6% of Ocean Capital Management LLC’s portfolio, making the stock its 22nd biggest holding. Ocean Capital Management LLC’s holdings in L3Harris Technologies were worth $1,508,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Kentucky Retirement Systems acquired a new position in L3Harris Technologies during the third quarter valued at approximately $2,642,000. GDS Wealth Management lifted its holdings in L3Harris Technologies by 184.5% in the third quarter. GDS Wealth Management now owns 90,123 shares of the company’s stock worth $15,692,000 after acquiring an additional 58,441 shares during the last quarter. Bruce G. Allen Investments LLC acquired a new position in L3Harris Technologies during the 4th quarter valued at approximately $46,000. Ceredex Value Advisors LLC boosted its holdings in shares of L3Harris Technologies by 14.1% during the third quarter. Ceredex Value Advisors LLC now owns 673,757 shares of the company’s stock valued at $117,315,000 after acquiring an additional 83,319 shares during the period. Finally, Strong Tower Advisory Services grew its position in L3Harris Technologies by 2.8% in the 3rd quarter. Strong Tower Advisory Services now owns 5,314 shares of the company’s stock worth $925,000 after purchasing an additional 147 shares during the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. TheStreet upgraded shares of L3Harris Technologies from a “c+” rating to a “b-” rating in a research note on Thursday, December 21st. Truist Financial upped their target price on L3Harris Technologies from $224.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, December 14th. Citigroup raised their price target on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company a “buy” rating in a report on Tuesday, February 13th. StockNews.com downgraded L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. Finally, UBS Group boosted their target price on shares of L3Harris Technologies from $222.00 to $229.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, L3Harris Technologies currently has an average rating of “Moderate Buy” and an average price target of $229.00.

Insider Activity

In other L3Harris Technologies news, Director William H. Swanson purchased 1,250 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was purchased at an average cost of $215.35 per share, with a total value of $269,187.50. Following the acquisition, the director now directly owns 1,543 shares of the company’s stock, valued at approximately $332,285.05. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director William H. Swanson bought 1,250 shares of L3Harris Technologies stock in a transaction dated Thursday, March 14th. The shares were bought at an average cost of $215.35 per share, for a total transaction of $269,187.50. Following the completion of the transaction, the director now owns 1,543 shares of the company’s stock, valued at $332,285.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Scott T. Mikuen sold 1,292 shares of L3Harris Technologies stock in a transaction on Friday, March 15th. The shares were sold at an average price of $211.14, for a total value of $272,792.88. Following the completion of the sale, the senior vice president now directly owns 58,617 shares of the company’s stock, valued at $12,376,393.38. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,362 shares of company stock worth $10,261,360. Insiders own 0.82% of the company’s stock.

L3Harris Technologies Trading Up 0.2 %

Shares of LHX opened at $212.97 on Friday. The stock has a 50 day simple moving average of $210.91 and a 200-day simple moving average of $196.10. The company has a current ratio of 1.01, a quick ratio of 0.82 and a debt-to-equity ratio of 0.59. The stock has a market cap of $40.49 billion, a PE ratio of 33.07, a PEG ratio of 1.97 and a beta of 0.65. L3Harris Technologies, Inc. has a 1 year low of $160.25 and a 1 year high of $218.34.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Friday, January 26th. The company reported $3.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.31 by $0.04. L3Harris Technologies had a return on equity of 12.68% and a net margin of 6.32%. The company had revenue of $5.34 billion during the quarter, compared to analysts’ expectations of $5.28 billion. During the same period last year, the business earned $3.27 earnings per share. The business’s revenue was up 16.6% on a year-over-year basis. On average, sell-side analysts predict that L3Harris Technologies, Inc. will post 12.73 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were issued a dividend of $1.16 per share. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.14. The ex-dividend date was Thursday, March 7th. This represents a $4.64 annualized dividend and a dividend yield of 2.18%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 72.05%.

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.