L3Harris Technologies Inc $LHX Shares Bought by Capital International Sarl

Capital International Sarl raised its position in L3Harris Technologies Inc (NYSE:LHX) by 6.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,729 shares of the company’s stock after buying an additional 2,509 shares during the quarter. Capital International Sarl’s holdings in L3Harris Technologies were worth $13,050,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. First Horizon Corp purchased a new position in shares of L3Harris Technologies in the 3rd quarter valued at approximately $10,667,000. Merit Financial Group LLC boosted its stake in shares of L3Harris Technologies by 55.9% in the third quarter. Merit Financial Group LLC now owns 9,989 shares of the company’s stock valued at $3,051,000 after buying an additional 3,583 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in L3Harris Technologies by 13.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,223 shares of the company’s stock valued at $9,230,000 after acquiring an additional 3,532 shares during the period. Oregon Public Employees Retirement Fund grew its stake in shares of L3Harris Technologies by 32.6% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 21,324 shares of the company’s stock worth $6,513,000 after purchasing an additional 5,239 shares during the period. Finally, Crystal Rock Capital Management acquired a new stake in shares of L3Harris Technologies in the third quarter valued at about $1,993,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Price Performance

NYSE:LHX opened at $370.90 on Tuesday. The firm has a market cap of $69.28 billion, a price-to-earnings ratio of 43.48, a price-to-earnings-growth ratio of 2.64 and a beta of 0.63. 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 company’s 50-day moving average is $344.02 and its two-hundred day moving average is $306.71.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.76 by $0.10. The business had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.76 billion. L3Harris Technologies had a net margin of 7.35% and a return on equity of 10.43%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.47 earnings per share. Research analysts expect that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be given a $1.25 dividend. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.20. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, March 6th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 58.62%.

Wall Street Analysts Forecast Growth

LHX has been the topic of a number of research reports. Susquehanna restated a “positive” rating on shares of L3Harris Technologies in a report on Thursday, January 15th. JPMorgan Chase & Co. lifted their price target on L3Harris Technologies from $340.00 to $395.00 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. Vertical Research restated a “buy” rating and set a $355.00 target price on shares of L3Harris Technologies in a research report on Tuesday, January 13th. Royal Bank Of Canada increased their price target on shares of L3Harris Technologies from $360.00 to $365.00 and gave the company a “sector perform” rating in a research report on Friday, January 30th. Finally, Morgan Stanley upped their target price on L3Harris Technologies from $367.00 to $390.00 and gave the company an “overweight” rating in a research note on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $328.57.

Insider Activity at L3Harris Technologies

In other news, insider Samir Mehta sold 5,528 shares of the company’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 transaction, the insider owned 7,756 shares of the company’s stock, valued at $2,872,201.92. This represents a 41.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Melanie Rakita sold 2,378 shares of the stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $341.45, for a total transaction of $811,968.10. Following the transaction, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Over 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 insiders.

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.