CoreCap Advisors LLC Has $98,000 Position in L3Harris Technologies, Inc. (NYSE:LHX)

CoreCap Advisors LLC trimmed its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 26.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 465 shares of the company’s stock after selling 166 shares during the quarter. CoreCap Advisors LLC’s holdings in L3Harris Technologies were worth $98,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Cornerstone Select Advisors LLC bought a new stake in L3Harris Technologies in the 4th quarter valued at about $1,095,000. Centiva Capital LP bought a new position in L3Harris Technologies during the fourth quarter valued at $851,000. BOKF NA grew its holdings in L3Harris Technologies by 0.3% during the fourth quarter. BOKF NA now owns 16,820 shares of the company’s stock valued at $3,503,000 after purchasing an additional 55 shares during the period. Bridgefront Capital LLC bought a new position in L3Harris Technologies during the fourth quarter valued at $577,000. Finally, Captrust Financial Advisors grew its holdings in L3Harris Technologies by 3.4% during the fourth quarter. Captrust Financial Advisors now owns 48,091 shares of the company’s stock valued at $10,113,000 after purchasing an additional 1,582 shares during the period. 84.76% of the stock is owned by institutional investors and hedge funds.

L3Harris Technologies Stock Performance

L3Harris Technologies stock opened at $218.44 on Wednesday. The stock’s 50 day simple moving average is $214.18 and its two-hundred day simple moving average is $219.78. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. The stock has a market cap of $40.84 billion, a price-to-earnings ratio of 27.76, a PEG ratio of 2.42 and a beta of 0.72. L3Harris Technologies, Inc. has a fifty-two week low of $193.09 and a fifty-two week high of $265.74.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, April 24th. The company reported $2.41 EPS for the quarter, topping analysts’ consensus estimates of $2.32 by $0.09. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. The firm had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $5.29 billion. During the same period in the previous year, the firm posted $3.06 EPS. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. As a group, analysts expect that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be issued a $1.20 dividend. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $4.80 dividend on an annualized basis and a yield of 2.20%. L3Harris Technologies’s payout ratio is currently 56.94%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. dropped their target price on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Wells Fargo & Company lowered their price target on L3Harris Technologies from $268.00 to $242.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. The Goldman Sachs Group upgraded L3Harris Technologies from a “sell” rating to a “buy” rating and raised their price target for the company from $198.00 to $263.00 in a research report on Friday, April 11th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $240.00 price objective on shares of L3Harris Technologies in a research note on Friday, January 31st. Finally, Morgan Stanley reduced their price objective on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $256.56.

Insider Buying and Selling

In other L3Harris Technologies news, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $226.00, for a total value of $718,228.00. Following the completion of the sale, the insider now owns 2,797 shares of the company’s stock, valued at approximately $632,122. The trade was a 53.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Edward J. Zoiss sold 1,783 shares of the company’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $211.48, for a total value of $377,068.84. Following the completion of the sale, the insider now owns 30,620 shares of the company’s stock, valued at $6,475,517.60. This trade represents a 5.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is owned by company insiders.

L3Harris Technologies Company Profile

L3Harris Technologies, Inc provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides intelligence, surveillance, and reconnaissance (ISR) systems, passive sensing and targeting, electronic attack, autonomy, power and communications, and networks and sensors, as well as advanced combat systems for air, land, and sea sectors.