Ocean Capital Management LLC Grows Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Ocean Capital Management LLC increased its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 1.3% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,161 shares of the company’s stock after buying an additional 91 shares during the period. L3Harris Technologies accounts for approximately 0.6% of Ocean Capital Management LLC’s portfolio, making the stock its 22nd largest holding. Ocean Capital Management LLC’s holdings in L3Harris Technologies were worth $1,508,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Strong Tower Advisory Services raised its stake in L3Harris Technologies by 0.9% in the fourth quarter. Strong Tower Advisory Services now owns 5,363 shares of the company’s stock valued at $1,130,000 after purchasing an additional 49 shares in the last quarter. State of Wyoming increased its holdings in shares of L3Harris Technologies by 27.1% in the 4th quarter. State of Wyoming now owns 230 shares of the company’s stock worth $48,000 after buying an additional 49 shares during the last quarter. Apollon Wealth Management LLC raised its position in shares of L3Harris Technologies by 0.9% during the 4th quarter. Apollon Wealth Management LLC now owns 5,925 shares of the company’s stock valued at $1,234,000 after buying an additional 52 shares in the last quarter. Advisory Services Network LLC lifted its holdings in shares of L3Harris Technologies by 0.9% during the 1st quarter. Advisory Services Network LLC now owns 6,236 shares of the company’s stock worth $1,224,000 after acquiring an additional 54 shares during the last quarter. Finally, Harbour Investments Inc. grew its position in L3Harris Technologies by 12.3% in the first quarter. Harbour Investments Inc. now owns 510 shares of the company’s stock worth $100,000 after acquiring an additional 56 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Trading Up 0.2 %

Shares of LHX opened at $212.97 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.01 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $40.49 billion, a P/E ratio of 33.07, a PEG ratio of 1.97 and a beta of 0.65. L3Harris Technologies, Inc. has a twelve month low of $160.25 and a twelve month high of $218.34. The firm has a fifty day simple moving average of $210.91 and a two-hundred day simple moving average of $196.10.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Friday, January 26th. The company reported $3.35 EPS for the quarter, topping analysts’ consensus estimates of $3.31 by $0.04. The company had revenue of $5.34 billion during the quarter, compared to analyst estimates of $5.28 billion. L3Harris Technologies had a return on equity of 12.68% and a net margin of 6.32%. The firm’s revenue was up 16.6% on a year-over-year basis. During the same quarter last year, the firm posted $3.27 earnings per share. On average, research analysts anticipate that L3Harris Technologies, Inc. will post 12.73 EPS for the current year.

L3Harris Technologies Increases Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Wells Fargo & Company lowered their price target on L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 30th. Citigroup boosted their target price on L3Harris Technologies from $238.00 to $245.00 and gave the stock a “buy” rating in a research report on Tuesday, February 13th. StockNews.com cut shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. JPMorgan Chase & Co. upgraded shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 price objective for the company in a report on Thursday, January 11th. Finally, UBS Group increased their target price on shares of L3Harris Technologies from $222.00 to $229.00 and gave the company a “neutral” rating in a report on Monday, January 29th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $229.00.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, Director William H. Swanson acquired 1,250 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were acquired at an average price of $215.35 per share, for a total transaction of $269,187.50. Following the completion of the acquisition, the director now owns 1,543 shares in the company, valued at $332,285.05. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, SVP Scott T. Mikuen sold 1,292 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $211.14, for a total transaction of $272,792.88. Following the transaction, the senior vice president now directly owns 58,617 shares of the company’s stock, valued at $12,376,393.38. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director William H. Swanson purchased 1,250 shares of the company’s 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 acquisition, the director now owns 1,543 shares in the company, valued at $332,285.05. The disclosure for this purchase can be found here. Insiders have sold 48,362 shares of company stock worth $10,261,360 over the last ninety days. 0.82% of the stock is owned by corporate insiders.

About L3Harris Technologies

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.