Vinva Investment Management Ltd Boosts Stock Holdings in L3Harris Technologies Inc $LHX

Vinva Investment Management Ltd grew its holdings in L3Harris Technologies Inc (NYSE:LHX) by 177.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,026 shares of the company’s stock after purchasing an additional 1,936 shares during the period. Vinva Investment Management Ltd’s holdings in L3Harris Technologies were worth $899,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of LHX. Caitlin John LLC purchased a new position in L3Harris Technologies in the 3rd quarter valued at approximately $28,000. GGM Financials LLC bought a new stake in L3Harris Technologies during the 3rd quarter valued at $32,000. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of L3Harris Technologies during the second quarter worth $34,000. Salomon & Ludwin LLC purchased a new stake in shares of L3Harris Technologies during the third quarter worth $34,000. Finally, Rakuten Securities Inc. boosted its holdings in shares of L3Harris Technologies by 234.8% in the second quarter. Rakuten Securities Inc. now owns 154 shares of the company’s stock worth $39,000 after acquiring an additional 108 shares during the period. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

L3Harris Technologies Price Performance

Shares of NYSE:LHX opened at $370.90 on Tuesday. The company’s fifty day moving average price is $344.02 and its 200-day moving average price is $306.71. 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 firm has a market capitalization of $69.28 billion, a price-to-earnings ratio of 43.48, a PEG ratio of 2.64 and a beta of 0.63. L3Harris Technologies Inc has a one year low of $195.72 and a one year high of $379.23.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) 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 company had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.76 billion. During the same period in the previous year, the business earned $3.47 earnings per share. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, equities research analysts anticipate that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Friday, March 6th. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.20. L3Harris Technologies’s dividend payout ratio is presently 58.62%.

Insider Buying and Selling at L3Harris Technologies

In related news, insider Jon Rambeau sold 5,528 shares of L3Harris Technologies stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $370.32, for a total value of $2,047,128.96. Following the transaction, the insider owned 7,660 shares in the company, valued at $2,836,651.20. This trade represents a 41.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 sale, the insider 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 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. Insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on LHX shares. Weiss Ratings upgraded L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, December 29th. Wolfe Research restated an “outperform” rating on shares of L3Harris Technologies in a research note on Friday, January 30th. Wall Street Zen lowered L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Royal Bank Of Canada upped their price target on 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, Susquehanna restated a “positive” rating on shares of L3Harris Technologies in a research report on Thursday, January 15th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.