Clear Harbor Asset Management LLC Cuts Position in L3Harris Technologies, Inc. (NYSE:LHX)

Clear Harbor Asset Management LLC cut its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 4.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,162 shares of the company’s stock after selling 713 shares during the period. Clear Harbor Asset Management LLC’s holdings in L3Harris Technologies were worth $3,404,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in LHX. Cowa LLC bought a new stake in L3Harris Technologies in the first quarter worth $26,000. Mascoma Wealth Management LLC bought a new position in shares of L3Harris Technologies during the third quarter valued at about $27,000. Strategic Investment Solutions Inc. IL bought a new position in shares of L3Harris Technologies during the first quarter valued at about $27,000. KB Financial Partners LLC raised its stake in shares of L3Harris Technologies by 96.5% during the third quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock valued at $29,000 after acquiring an additional 82 shares during the last quarter. Finally, First Capital Advisors Group LLC. bought a new position in shares of L3Harris Technologies during the second quarter valued at about $29,000. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies Stock Performance

L3Harris Technologies stock traded up $0.47 during midday trading on Thursday, reaching $212.97. 1,193,915 shares of the company traded hands, compared to its average volume of 1,129,033. The firm has a market capitalization of $40.49 billion, a price-to-earnings ratio of 33.16, a price-to-earnings-growth ratio of 1.96 and a beta of 0.65. The business has a 50 day moving average of $210.91 and a two-hundred day moving average of $196.10. L3Harris Technologies, Inc. has a 12 month low of $160.25 and a 12 month high of $218.34. 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 (NYSE:LHX) last released its quarterly earnings results on Friday, January 26th. The company reported $3.35 earnings per share for the quarter, topping 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 period last year, the firm earned $3.27 earnings per share. The company’s quarterly revenue was up 16.6% on a year-over-year basis. As a group, research analysts predict that L3Harris Technologies, Inc. will post 12.73 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were given a $1.16 dividend. The ex-dividend date was Thursday, March 7th. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.14. This represents a $4.64 annualized dividend and a yield of 2.18%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 72.05%.

Insiders Place Their Bets

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 40,000 shares of the stock in a transaction that occurred 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 directly owns 116,175 shares in the company, valued at $24,654,658.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Christopher E. Kubasik sold 40,000 shares of L3Harris Technologies stock in a transaction on Monday, March 25th. The shares were sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the transaction, the chief executive officer now owns 116,175 shares in the company, valued at approximately $24,654,658.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director William H. Swanson bought 1,250 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were purchased at an average price of $215.35 per share, for a total transaction of $269,187.50. Following the purchase, the director now owns 1,543 shares in the company, valued at approximately $332,285.05. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 48,362 shares of company stock worth $10,261,360. Company insiders own 0.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. StockNews.com downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. TheStreet raised shares of L3Harris Technologies from a “c+” rating to a “b-” rating in a research note on Thursday, December 21st. Truist Financial increased their price target on shares of L3Harris Technologies from $224.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, December 14th. Citigroup increased their price target on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock a “buy” rating in a research note on Tuesday, February 13th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating and upped their price objective for the stock from $184.00 to $240.00 in a report on Friday, December 15th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $229.00.

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.