Lido Advisors LLC Boosts Stake in L3Harris Technologies Inc $LHX

Lido Advisors LLC boosted its stake in L3Harris Technologies Inc (NYSE:LHX) by 971.9% in the 3rd quarter, Holdings Channel reports. The firm owned 110,580 shares of the company’s stock after purchasing an additional 100,264 shares during the period. Lido Advisors LLC’s holdings in L3Harris Technologies were worth $33,772,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Twin Lakes Capital Management LLC boosted its position in shares of L3Harris Technologies by 0.3% during the third quarter. Twin Lakes Capital Management LLC now owns 14,340 shares of the company’s stock worth $4,380,000 after buying an additional 38 shares during the period. Patrick M Sweeney & Associates Inc. grew its stake in shares of L3Harris Technologies by 3.8% in the second quarter. Patrick M Sweeney & Associates Inc. now owns 1,095 shares of the company’s stock valued at $280,000 after buying an additional 40 shares in the last quarter. Moment Partners LLC raised its holdings in shares of L3Harris Technologies by 1.6% in the 3rd quarter. Moment Partners LLC now owns 2,501 shares of the company’s stock valued at $764,000 after buying an additional 40 shares during the period. Catalyst Financial Partners LLC raised its holdings in shares of L3Harris Technologies by 2.6% in the 3rd quarter. Catalyst Financial Partners LLC now owns 1,602 shares of the company’s stock valued at $489,000 after buying an additional 40 shares during the period. Finally, Deseret Mutual Benefit Administrators lifted its stake in L3Harris Technologies by 3.9% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,085 shares of the company’s stock worth $331,000 after acquiring an additional 41 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Wall Street Analysts Forecast Growth

LHX has been the subject of a number of research analyst reports. TD Cowen restated a “buy” rating on shares of L3Harris Technologies in a report on Monday, January 5th. Morgan Stanley increased their price target on shares of L3Harris Technologies from $367.00 to $390.00 and gave the stock an “overweight” rating in a research report on Monday, February 2nd. Wall Street Zen lowered shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. JPMorgan Chase & Co. lifted their price objective 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. Finally, Citigroup upped their target price on shares of L3Harris Technologies from $389.00 to $418.00 and gave the stock a “buy” rating in a research note on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $328.57.

L3Harris Technologies Stock Performance

Shares of LHX opened at $366.41 on Tuesday. The stock has a 50-day simple moving average of $350.22 and a 200-day simple moving average of $309.70. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.19. The stock has a market capitalization of $68.44 billion, a PE ratio of 42.96, a PEG ratio of 2.59 and a beta of 0.63. L3Harris Technologies Inc has a 1 year low of $195.72 and a 1 year high of $379.23.

L3Harris Technologies (NYSE:LHX) last released 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. L3Harris Technologies had a net margin of 7.35% and a return on equity of 10.43%. The firm had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.76 billion. During the same period in the prior year, the firm earned $3.47 earnings per share. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, analysts predict that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be issued a dividend of $1.25 per share. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.20. The ex-dividend date is Friday, March 6th. This represents a $5.00 annualized dividend and a yield of 1.4%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 58.62%.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Jon Rambeau sold 5,528 shares of the firm’s stock in a transaction 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 approximately $2,836,651.20. This trade represents a 41.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Melanie Rakita sold 751 shares of the firm’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $370.32, for a total transaction of $278,110.32. Following the completion of the sale, the vice president owned 4,131 shares in the company, valued at $1,529,791.92. The trade was a 15.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 19,025 shares of company stock valued at $6,824,370. Insiders own 0.72% of the company’s stock.

About L3Harris Technologies

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.