Lido Advisors LLC Raises Holdings in L3Harris Technologies Inc $LHX

Lido Advisors LLC boosted its position in L3Harris Technologies Inc (NYSE:LHX) by 971.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 110,580 shares of the company’s stock after purchasing an additional 100,264 shares during the quarter. Lido Advisors LLC owned about 0.06% of L3Harris Technologies worth $33,772,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LHX. Caitlin John LLC acquired a new stake in shares of L3Harris Technologies in the third quarter valued at about $28,000. JPL Wealth Management LLC acquired a new position in L3Harris Technologies during the third quarter worth about $29,000. GGM Financials LLC acquired a new position in L3Harris Technologies during the third quarter worth about $32,000. Twin Peaks Wealth Advisors LLC purchased a new stake in L3Harris Technologies during the 2nd quarter valued at about $34,000. Finally, Salomon & Ludwin LLC acquired a new stake in L3Harris Technologies in the 3rd quarter valued at about $34,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Stock Up 2.1%

LHX stock opened at $366.41 on Tuesday. The firm has a market cap of $68.44 billion, a PE ratio of 42.96, a PEG ratio of 2.59 and a beta of 0.63. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.19. The firm’s 50 day moving average price is $350.22 and its 200-day moving average price is $309.70. L3Harris Technologies Inc has a one year low of $195.72 and a one year high of $379.23.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data 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. The company 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 firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the prior year, the business posted $3.47 earnings per share. On average, equities research analysts anticipate that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be issued a dividend of $1.25 per share. The ex-dividend date is Friday, March 6th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.4%. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.20. L3Harris Technologies’s dividend payout ratio (DPR) is currently 58.62%.

Insider Transactions at L3Harris Technologies

In related news, insider Jon Rambeau sold 5,528 shares of the firm’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 completion of the sale, the insider directly owned 7,660 shares of the company’s stock, valued at approximately $2,836,651.20. This trade represents a 41.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Samir Mehta sold 5,528 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider owned 7,756 shares in the company, valued at approximately $2,872,201.92. This trade represents a 41.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 19,025 shares of company stock worth $6,824,370. 0.72% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on LHX. Vertical Research restated a “buy” rating and set a $355.00 target price on shares of L3Harris Technologies in a report on Tuesday, January 13th. Morgan Stanley boosted 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. Sanford C. Bernstein restated an “outperform” rating on shares of L3Harris Technologies in a report on Friday, February 6th. Wall Street Zen downgraded L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Finally, Susquehanna reiterated a “positive” rating on shares of L3Harris Technologies in a report on Thursday, January 15th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $328.57.

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.