Bay Colony Advisory Group Inc d b a Bay Colony Advisors Increases Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 13.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 5,145 shares of the company’s stock after purchasing an additional 617 shares during the quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings in L3Harris Technologies were worth $1,084,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Kentucky Retirement Systems purchased a new stake in L3Harris Technologies during the 3rd quarter valued at about $2,642,000. GDS Wealth Management boosted its holdings in shares of L3Harris Technologies by 184.5% during the 3rd quarter. GDS Wealth Management now owns 90,123 shares of the company’s stock valued at $15,692,000 after acquiring an additional 58,441 shares during the last quarter. Bruce G. Allen Investments LLC purchased a new stake in shares of L3Harris Technologies during the 4th quarter valued at about $46,000. Sapient Capital LLC purchased a new stake in shares of L3Harris Technologies during the 4th quarter valued at about $1,198,000. Finally, Ceredex Value Advisors LLC boosted its holdings in shares of L3Harris Technologies by 14.1% during the 3rd 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 last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Edward J. Zoiss sold 3,707 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $211.47, for a total value of $783,919.29. Following the transaction, the insider now owns 28,644 shares of the company’s stock, valued at $6,057,346.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Christopher E. Kubasik sold 40,000 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $212.22, for a total value of $8,488,800.00. Following the transaction, the chief executive officer now owns 116,175 shares of the company’s stock, valued at $24,654,658.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Edward J. Zoiss sold 3,707 shares of the business’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $211.47, for a total transaction of $783,919.29. Following the completion of the transaction, the insider now directly owns 28,644 shares in the company, valued at approximately $6,057,346.68. The disclosure for this sale can be found here. Insiders have sold 48,362 shares of company stock valued at $10,261,360 over the last 90 days. 0.87% of the stock is currently owned by corporate insiders.

L3Harris Technologies Price Performance

Shares of NYSE:LHX opened at $202.62 on Monday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.82. L3Harris Technologies, Inc. has a 1-year low of $160.25 and a 1-year high of $218.34. The company has a market capitalization of $38.52 billion, a P/E ratio of 31.46, a P/E/G ratio of 1.88 and a beta of 0.65. The firm’s 50 day simple moving average is $210.92 and its two-hundred day simple moving average is $199.17.

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

L3Harris Technologies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were issued a dividend of $1.16 per share. The ex-dividend date was Thursday, March 7th. This represents a $4.64 annualized dividend and a yield of 2.29%. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.14. L3Harris Technologies’s payout ratio is currently 72.05%.

Analyst Ratings Changes

LHX has been the topic of a number of recent analyst reports. Wells Fargo & Company dropped their price target on shares of L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating on the stock in a report on Tuesday, January 30th. Royal Bank of Canada raised their price target on shares of L3Harris Technologies from $235.00 to $245.00 and gave the company an “outperform” rating in a report on Monday, January 29th. StockNews.com downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Monday, January 29th. 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. Finally, UBS Group increased their price objective on shares of L3Harris Technologies from $222.00 to $229.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, L3Harris Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $229.00.

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.