Clear Trail Advisors LLC Acquires Shares of 1,911 L3Harris Technologies Inc $LHX

Clear Trail Advisors LLC bought a new position in shares of L3Harris Technologies Inc (NYSE:LHX) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,911 shares of the company’s stock, valued at approximately $561,000.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC grew its position in shares of L3Harris Technologies by 233.9% in the 4th quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock worth $901,000 after buying an additional 3,001 shares during the last quarter. TD Waterhouse Canada Inc. increased its stake in shares of L3Harris Technologies by 27.4% during the second quarter. TD Waterhouse Canada Inc. now owns 1,667 shares of the company’s stock valued at $420,000 after buying an additional 359 shares during the period. AlphaCore Capital LLC raised its holdings in shares of L3Harris Technologies by 381.4% during the second quarter. AlphaCore Capital LLC now owns 1,011 shares of the company’s stock valued at $254,000 after acquiring an additional 801 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in L3Harris Technologies by 1.5% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,248,192 shares of the company’s stock worth $313,096,000 after acquiring an additional 18,818 shares during the period. Finally, Coldstream Capital Management Inc. lifted its stake in L3Harris Technologies by 5.9% in the second quarter. Coldstream Capital Management Inc. now owns 3,106 shares of the company’s stock worth $779,000 after acquiring an additional 172 shares during the period. 84.76% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Citigroup boosted their price objective on shares of L3Harris Technologies from $389.00 to $418.00 and gave the company a “buy” rating in a research report on Thursday, February 5th. Wall Street Zen cut shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. UBS Group lifted their target price on shares of L3Harris Technologies to $323.00 and gave the company a “neutral” rating in a research note on Wednesday, January 14th. TD Cowen reiterated a “buy” rating on shares of L3Harris Technologies in a research report on Monday, January 5th. Finally, Susquehanna restated a “positive” rating on shares of L3Harris Technologies in a report on Thursday, January 15th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $328.57.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Samir Mehta sold 5,528 shares of the company’s stock in a transaction dated 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 owned 7,756 shares in the company, valued at approximately $2,872,201.92. This represents a 41.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jon Rambeau sold 5,528 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $370.32, for a total transaction of $2,047,128.96. Following the transaction, the insider directly owned 7,660 shares of the company’s stock, valued at $2,836,651.20. This represents a 41.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 19,025 shares of company stock worth $6,824,370. 0.72% of the stock is currently owned by company insiders.

L3Harris Technologies Price Performance

LHX opened at $345.11 on Tuesday. The company has a current ratio of 1.19, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. The company has a market cap of $64.46 billion, a price-to-earnings ratio of 40.46, a price-to-earnings-growth ratio of 2.55 and a beta of 0.63. The stock has a fifty day simple moving average of $353.67 and a two-hundred day simple moving average of $312.68. L3Harris Technologies Inc has a 12-month low of $195.72 and a 12-month high of $379.23.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, January 29th. The company reported $2.86 EPS for the quarter, beating analysts’ consensus estimates of $2.76 by $0.10. The firm had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.76 billion. L3Harris Technologies had a net margin of 7.35% and a return on equity of 10.43%. The company’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.47 EPS. Research analysts predict that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 20th. Investors of record on Friday, March 6th were paid a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, March 6th. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.20. This represents a $5.00 annualized dividend and a yield of 1.4%. L3Harris Technologies’s payout ratio is presently 58.62%.

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.