Dorato Capital Management Takes Position in L3Harris Technologies Inc $LHX

Dorato Capital Management purchased a new position in L3Harris Technologies Inc (NYSE:LHX) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,967 shares of the company’s stock, valued at approximately $871,000.

Other institutional investors also recently added to or reduced their stakes in the company. Burns J W & Co. Inc. NY increased its holdings in L3Harris Technologies by 3.1% during the fourth quarter. Burns J W & Co. Inc. NY now owns 987 shares of the company’s stock worth $290,000 after buying an additional 30 shares during the last quarter. Wealth Quarterback LLC grew its position in shares of L3Harris Technologies by 1.8% during the 4th quarter. Wealth Quarterback LLC now owns 2,011 shares of the company’s stock valued at $590,000 after acquiring an additional 35 shares during the period. Clark Financial Services Group Inc. BD grew its position in shares of L3Harris Technologies by 1.9% during the 4th quarter. Clark Financial Services Group Inc. BD now owns 1,909 shares of the company’s stock valued at $594,000 after acquiring an additional 36 shares during the period. Fifth Third Wealth Advisors LLC increased its stake in shares of L3Harris Technologies by 2.7% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 1,356 shares of the company’s stock worth $398,000 after purchasing an additional 36 shares during the last quarter. Finally, Twin Lakes Capital Management LLC raised its holdings in shares of L3Harris Technologies by 0.3% in the 3rd quarter. Twin Lakes Capital Management LLC now owns 14,340 shares of the company’s stock worth $4,380,000 after purchasing an additional 38 shares during the period. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Trading Up 0.8%

Shares of LHX stock opened at $356.78 on Friday. The company’s fifty day simple moving average is $354.26 and its two-hundred day simple moving average is $316.25. 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 Inc has a 1 year low of $195.72 and a 1 year high of $379.23. The stock has a market capitalization of $66.64 billion, a price-to-earnings ratio of 41.83, a PEG ratio of 2.55 and a beta of 0.62.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, January 29th. The company reported $2.86 EPS for the quarter, topping analysts’ consensus estimates of $2.76 by $0.10. The firm had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.76 billion. L3Harris Technologies had a return on equity of 10.43% and a net margin of 7.35%.The business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period last year, the company earned $3.47 earnings per share. As a group, analysts anticipate that L3Harris Technologies Inc will post 11.12 earnings per share 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 annualized dividend and a yield of 1.4%. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.20. L3Harris Technologies’s dividend payout ratio is 58.62%.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Jon Rambeau sold 5,528 shares of the company’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $370.32, for a total transaction of $2,047,128.96. Following the sale, the insider directly owned 7,660 shares in the company, valued at $2,836,651.20. This represents a 41.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Samir Mehta sold 5,528 shares of the stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $370.32, for a total transaction of $2,047,128.96. Following the completion of the sale, the insider directly owned 7,756 shares in the company, valued at approximately $2,872,201.92. The trade was a 41.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 19,025 shares of company stock valued at $6,824,370 in the last quarter. 0.72% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Weiss Ratings upgraded L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, December 29th. Wolfe Research restated an “outperform” rating on shares of L3Harris Technologies in a research note on Friday, January 30th. Truist Financial set a $364.00 price target on L3Harris Technologies in a research note on Wednesday, January 14th. UBS Group lifted their price objective on L3Harris Technologies to $323.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. Finally, Wall Street Zen cut L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $334.62.

L3Harris Technologies Company 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.