Bourne Lent Asset Management Inc. Purchases 3,000 Shares of L3Harris Technologies Inc $LHX

Bourne Lent Asset Management Inc. lifted its holdings in L3Harris Technologies Inc (NYSE:LHX) by 43.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,940 shares of the company’s stock after purchasing an additional 3,000 shares during the period. L3Harris Technologies comprises approximately 1.0% of Bourne Lent Asset Management Inc.’s holdings, making the stock its 20th biggest position. Bourne Lent Asset Management Inc.’s holdings in L3Harris Technologies were worth $2,918,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in LHX. Victory Capital Management Inc. grew its position in shares of L3Harris Technologies by 1,053.9% during the 3rd quarter. Victory Capital Management Inc. now owns 1,181,900 shares of the company’s stock valued at $360,964,000 after acquiring an additional 1,079,474 shares during the period. Balyasny Asset Management L.P. raised its holdings in L3Harris Technologies by 8,284.6% in the 2nd quarter. Balyasny Asset Management L.P. now owns 775,322 shares of the company’s stock worth $194,482,000 after purchasing an additional 766,075 shares during the period. Artisan Partners Limited Partnership purchased a new position in L3Harris Technologies during the third quarter valued at $211,703,000. Two Sigma Investments LP lifted its position in L3Harris Technologies by 560.7% during the third quarter. Two Sigma Investments LP now owns 614,287 shares of the company’s stock valued at $187,609,000 after purchasing an additional 521,312 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in L3Harris Technologies by 155.7% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 618,350 shares of the company’s stock valued at $155,107,000 after purchasing an additional 376,499 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Down 1.6%

Shares of NYSE:LHX opened at $343.76 on Friday. The firm has a market capitalization of $64.21 billion, a PE ratio of 40.30, a price-to-earnings-growth ratio of 2.52 and a beta of 0.63. The business has a 50 day simple moving average of $354.19 and a two-hundred day simple moving average of $314.25. L3Harris Technologies Inc has a 1 year low of $195.72 and a 1 year high of $379.23. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.19 and a quick ratio of 1.02.

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

L3Harris Technologies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Friday, March 6th were paid a $1.25 dividend. The ex-dividend date was Friday, March 6th. This represents a $5.00 dividend on an annualized basis and a yield of 1.5%. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.20. L3Harris Technologies’s payout ratio is currently 58.62%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on LHX. Morgan Stanley raised their price objective on L3Harris Technologies from $367.00 to $390.00 and gave the stock an “overweight” rating in a research note on Monday, February 2nd. Citigroup increased their target price on shares of L3Harris Technologies from $389.00 to $418.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. Truist Financial set a $364.00 price target on shares of L3Harris Technologies in a report on Wednesday, January 14th. Susquehanna reaffirmed a “positive” rating on shares of L3Harris Technologies in a report on Thursday, January 15th. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of L3Harris Technologies in a research report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $328.57.

Insider Transactions at L3Harris Technologies

In related news, insider Samir Mehta sold 5,528 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $370.32, for a total value of $2,047,128.96. Following the transaction, the insider owned 7,756 shares of the company’s stock, valued at $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 is available through the SEC website. Also, VP Melanie Rakita sold 2,378 shares of the firm’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $341.45, for a total value of $811,968.10. Following the transaction, the vice president owned 4,882 shares in the company, valued at $1,666,958.90. The trade was a 32.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 19,025 shares of company stock valued at $6,824,370. 0.72% of the stock is currently owned by company insiders.

L3Harris Technologies Profile

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.