Collective Family Office LLC Acquires New Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Collective Family Office LLC acquired a new stake in shares of L3Harris Technologies, Inc. (NYSE:LHX – Get Rating) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,020 shares of the company’s stock, valued at approximately $212,000.

A number of other hedge funds have also made changes to their positions in LHX. Cowa LLC acquired a new position in L3Harris Technologies in the first quarter worth approximately $26,000. General Partner Inc. acquired a new position in L3Harris Technologies in the fourth quarter worth approximately $30,000. Eagle Bay Advisors LLC acquired a new position in L3Harris Technologies in the second quarter worth approximately $30,000. Wagner Wealth Management LLC acquired a new position in L3Harris Technologies in the second quarter worth approximately $32,000. Finally, Trustcore Financial Services LLC grew its position in L3Harris Technologies by 106.2% in the third quarter. Trustcore Financial Services LLC now owns 167 shares of the company’s stock worth $35,000 after buying an additional 86 shares during the last quarter. Institutional investors and hedge funds own 82.18% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Morgan Stanley decreased their price target on shares of L3Harris Technologies from $278.00 to $264.00 and set an “overweight” rating on the stock in a research report on Monday, January 30th. Credit Suisse Group decreased their price objective on shares of L3Harris Technologies from $244.00 to $240.00 and set an “outperform” rating for the company in a research note on Friday, January 20th. StockNews.com assumed coverage on shares of L3Harris Technologies in a research note on Thursday. They issued a “buy” rating for the company. Cowen decreased their price objective on shares of L3Harris Technologies from $260.00 to $240.00 and set an “outperform” rating for the company in a research note on Thursday, January 12th. Finally, Wells Fargo & Company raised their price objective on shares of L3Harris Technologies from $219.00 to $230.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 1st. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $259.46.

L3Harris Technologies Trading Down 3.5 %

Shares of NYSE:LHX opened at $195.25 on Friday. The firm has a fifty day moving average of $206.37 and a two-hundred day moving average of $218.06. The firm has a market capitalization of $37.09 billion, a P/E ratio of 35.69, a price-to-earnings-growth ratio of 6.36 and a beta of 0.71. L3Harris Technologies, Inc. has a 12-month low of $189.73 and a 12-month high of $264.71. The company has a quick ratio of 0.95, a current ratio of 1.17 and a debt-to-equity ratio of 0.33.

L3Harris Technologies (NYSE:LHX – Get Rating) last issued its earnings results on Friday, January 27th. The company reported $3.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.21 by $0.06. The company had revenue of $4.58 billion during the quarter, compared to analyst estimates of $4.36 billion. L3Harris Technologies had a net margin of 6.22% and a return on equity of 13.20%. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the business posted $3.30 EPS. On average, equities analysts expect that L3Harris Technologies, Inc. will post 12.32 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 24th. Stockholders of record on Friday, March 10th will be issued a dividend of $1.14 per share. The ex-dividend date is Thursday, March 9th. This represents a $4.56 dividend on an annualized basis and a dividend yield of 2.34%. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.12. L3Harris Technologies’s dividend payout ratio (DPR) is currently 83.36%.

About L3Harris Technologies

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L3Harris Technologies, Inc engages in the provision of defense and commercial technologies across the air, land, sea, space, and cyber domains. It operates through the following segments: Integrated Mission Systems, Space and Airborne Systems, Communication Systems, and Aviation Systems. The Integrated Mission Systems segment consists of multi-mission ISR and communication systems, integrated electrical and electronic systems for maritime platforms, and advanced electro-optical and infrared solutions.