Bourne Lent Asset Management Inc. Acquires 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% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 9,940 shares of the company’s stock after purchasing an additional 3,000 shares during the period. L3Harris Technologies comprises 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 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of LHX. Caitlin John LLC purchased a new stake in L3Harris Technologies during the third quarter valued at approximately $28,000. JPL Wealth Management LLC acquired a new position in shares of L3Harris Technologies during the third quarter worth $29,000. Triumph Capital Management purchased a new stake in shares of L3Harris Technologies during the 3rd quarter valued at $31,000. GGM Financials LLC purchased a new stake in shares of L3Harris Technologies during the 3rd quarter valued at $32,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in shares of L3Harris Technologies in the 2nd quarter worth $34,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Stock Down 1.6%

Shares of LHX opened at $343.76 on Friday. The company’s 50-day moving average price is $354.19 and its 200 day moving average price is $314.25. L3Harris Technologies Inc has a 12-month low of $195.72 and a 12-month high of $379.23. 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 firm has a market cap of $64.21 billion, a P/E ratio of 40.30, a price-to-earnings-growth ratio of 2.52 and a beta of 0.63.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, beating analysts’ consensus estimates of $2.76 by $0.10. The business had revenue of $5.65 billion during 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 business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period last year, the business earned $3.47 earnings per share. On average, sell-side analysts forecast that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

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

Insiders Place Their Bets

In related news, VP Melanie Rakita sold 2,378 shares of the business’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 sale, the vice president owned 4,882 shares in the company, valued at approximately $1,666,958.90. The trade was a 32.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jon Rambeau 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 value of $2,047,128.96. Following the transaction, the insider directly owned 7,660 shares in the company, valued at approximately $2,836,651.20. The trade was a 41.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 19,025 shares of company stock worth $6,824,370 over the last ninety days. Corporate insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Susquehanna reaffirmed a “positive” rating on shares of L3Harris Technologies in a research report on Thursday, January 15th. Sanford C. Bernstein reissued an “outperform” rating on shares of L3Harris Technologies in a report on Friday, February 6th. UBS Group upped their price objective on shares of L3Harris Technologies to $323.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. Wolfe Research reaffirmed an “outperform” rating on shares of L3Harris Technologies in a research report on Friday, January 30th. Finally, Vertical Research reissued a “buy” rating and set a $355.00 target price on shares of L3Harris Technologies in a research report on Tuesday, January 13th. One 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $328.57.

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.