Dorato Capital Management Invests $871,000 in L3Harris Technologies Inc $LHX

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

Several other large investors also recently added to or reduced their stakes in the business. YHB Investment Advisors Inc. boosted its position in shares of L3Harris Technologies by 2.9% during the 4th quarter. YHB Investment Advisors Inc. now owns 12,536 shares of the company’s stock valued at $3,680,000 after acquiring an additional 356 shares during the last quarter. Trust Co. of Vermont increased its position in shares of L3Harris Technologies by 96.4% in the fourth quarter. Trust Co. of Vermont now owns 273 shares of the company’s stock worth $80,000 after purchasing an additional 134 shares during the last quarter. Ipswich Investment Management Co. Inc. increased its position in shares of L3Harris Technologies by 6.6% in the fourth quarter. Ipswich Investment Management Co. Inc. now owns 2,908 shares of the company’s stock worth $854,000 after purchasing an additional 180 shares during the last quarter. Aspire Private Capital LLC raised its stake in L3Harris Technologies by 0.9% in the fourth quarter. Aspire Private Capital LLC now owns 5,173 shares of the company’s stock valued at $1,519,000 after purchasing an additional 44 shares in the last quarter. Finally, Banque Pictet & Cie SA bought a new stake in L3Harris Technologies during the fourth quarter valued at approximately $261,000. Institutional investors own 84.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on LHX. Vertical Research reissued a “buy” rating and issued a $355.00 price target on shares of L3Harris Technologies in a report on Tuesday, January 13th. TD Cowen reaffirmed a “buy” rating on shares of L3Harris Technologies in a report on Monday, January 5th. UBS Group upped their target price on shares of L3Harris Technologies to $323.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. Sanford C. Bernstein reissued an “outperform” rating on shares of L3Harris Technologies in a research note on Friday, February 6th. Finally, Weiss Ratings upgraded L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $334.62.

L3Harris Technologies Price Performance

Shares of L3Harris Technologies stock opened at $356.78 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.19. L3Harris Technologies Inc has a 52-week low of $195.72 and a 52-week high of $379.23. The company has a fifty day moving average of $354.26 and a 200-day moving average of $316.25. The stock has a market capitalization of $66.64 billion, a price-to-earnings ratio of 41.83, a price-to-earnings-growth 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 earnings per share for the quarter, topping the consensus estimate of $2.76 by $0.10. L3Harris Technologies had a net margin of 7.35% and a return on equity of 10.43%. The business had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.76 billion. During the same period in the previous year, the firm posted $3.47 earnings per share. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. Equities research analysts expect that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Friday, March 6th were paid a $1.25 dividend. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.20. The ex-dividend date of this dividend was Friday, March 6th. This represents a $5.00 dividend on an annualized basis and a yield of 1.4%. L3Harris Technologies’s payout ratio is presently 58.62%.

Insider Buying and Selling at L3Harris Technologies

In other 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 transaction of $2,047,128.96. Following the completion of the sale, the insider owned 7,756 shares of the company’s stock, valued at approximately $2,872,201.92. This represents a 41.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jon Rambeau sold 5,528 shares of L3Harris Technologies stock in a transaction on 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 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 ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 19,025 shares of company stock worth $6,824,370. 0.72% of the stock is currently owned by insiders.

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.