Munich Reinsurance Co Stock Corp in Munich Takes $72.45 Million Position in L3Harris Technologies Inc $LHX

Munich Reinsurance Co Stock Corp in Munich acquired a new stake in shares of L3Harris Technologies Inc (NYSE:LHX) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 237,209 shares of the company’s stock, valued at approximately $72,446,000. L3Harris Technologies accounts for approximately 1.8% of Munich Reinsurance Co Stock Corp in Munich’s holdings, making the stock its 10th biggest holding. Munich Reinsurance Co Stock Corp in Munich owned approximately 0.13% of L3Harris Technologies as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Caitlin John LLC purchased a new stake in L3Harris Technologies during the third quarter worth $28,000. GGM Financials LLC purchased a new stake in shares of L3Harris Technologies during the 3rd quarter worth $32,000. Salomon & Ludwin LLC bought a new stake in L3Harris Technologies during the third quarter valued at about $34,000. Twin Peaks Wealth Advisors LLC purchased a new position in L3Harris Technologies in the second quarter valued at about $34,000. Finally, Copia Wealth Management raised its holdings in L3Harris Technologies by 1,842.9% in the third quarter. Copia Wealth Management now owns 136 shares of the company’s stock worth $42,000 after purchasing an additional 129 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

Analyst Ratings Changes

LHX has been the topic of a number of recent analyst reports. Wolfe Research restated an “outperform” rating on shares of L3Harris Technologies in a report on Friday, January 30th. BNP Paribas Exane raised shares of L3Harris Technologies to a “hold” rating in a report on Tuesday, November 18th. Susquehanna reiterated a “positive” rating on shares of L3Harris Technologies in a report on Thursday, January 15th. UBS Group upped their target price on L3Harris Technologies to $323.00 and gave the company a “neutral” rating in a research report on Wednesday, January 14th. Finally, Royal Bank Of Canada raised their price target on L3Harris Technologies from $360.00 to $365.00 and gave the stock a “sector perform” rating in a report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $328.57.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, insider Samir Mehta sold 5,528 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the insider directly owned 7,756 shares of the company’s stock, valued at approximately $2,872,201.92. The trade was a 41.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jon Rambeau sold 5,528 shares of the firm’s 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 sale, the insider directly owned 7,660 shares in the company, valued at $2,836,651.20. The trade was a 41.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 19,025 shares of company stock worth $6,824,370 over the last quarter. 0.72% of the stock is currently owned by insiders.

L3Harris Technologies Stock Up 1.6%

NYSE:LHX opened at $365.83 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.19 and a quick ratio of 1.02. The company’s fifty day moving average price is $342.52 and its 200-day moving average price is $305.59. L3Harris Technologies Inc has a 1-year low of $195.72 and a 1-year high of $379.23. The firm has a market capitalization of $68.33 billion, a P/E ratio of 42.89, a PEG ratio of 2.60 and a beta of 0.63.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.76 by $0.10. L3Harris Technologies had a net margin of 7.35% and a return on equity of 10.43%. The company 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 quarterly revenue was up 2.3% on a year-over-year basis. As a group, equities research analysts anticipate that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be issued a $1.25 dividend. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.20. The ex-dividend date of this dividend is Friday, March 6th. This represents a $5.00 annualized dividend and a dividend yield of 1.4%. L3Harris Technologies’s payout ratio is presently 56.27%.

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.