Jefferies Financial Group Inc. Buys Shares of 10,183 L3Harris Technologies Inc $LHX

Jefferies Financial Group Inc. bought a new position in L3Harris Technologies Inc (NYSE:LHX) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,183 shares of the company’s stock, valued at approximately $3,110,000.

Several other large investors also recently made changes to their positions in the company. Caitlin John LLC bought a new stake in shares of L3Harris Technologies during the third quarter valued at approximately $28,000. GGM Financials LLC bought a new position in L3Harris Technologies in the 3rd quarter worth approximately $32,000. Twin Peaks Wealth Advisors LLC acquired a new stake in L3Harris Technologies in the 2nd quarter valued at approximately $34,000. Salomon & Ludwin LLC bought a new stake in L3Harris Technologies during the 3rd quarter valued at $34,000. Finally, Rakuten Securities Inc. raised its stake in L3Harris Technologies by 234.8% during the 2nd quarter. Rakuten Securities Inc. now owns 154 shares of the company’s stock valued at $39,000 after acquiring an additional 108 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on LHX. Argus raised L3Harris Technologies to a “strong-buy” rating in a research note on Friday, February 27th. Citigroup upped their price objective on shares of L3Harris Technologies from $389.00 to $418.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. BNP Paribas Exane began coverage on shares of L3Harris Technologies in a research report on Tuesday, November 18th. They issued a “neutral” rating and a $290.00 target price for the company. TD Cowen reissued a “buy” rating on shares of L3Harris Technologies in a research note on Monday, January 5th. Finally, Wall Street Zen downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $328.57.

Insiders Place Their Bets

In related news, VP Melanie Rakita sold 2,378 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $341.45, for a total value of $811,968.10. Following the completion of the sale, the vice president owned 4,882 shares in the company, valued at approximately $1,666,958.90. This represents a 32.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Samir Mehta sold 5,528 shares of L3Harris Technologies 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 transaction, the insider owned 7,756 shares in the company, 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 sold a total of 19,025 shares of company stock worth $6,824,370 over the last ninety days. 0.72% of the stock is currently owned by company insiders.

L3Harris Technologies Stock Down 2.6%

Shares of L3Harris Technologies stock opened at $361.51 on Wednesday. L3Harris Technologies Inc has a 12-month low of $195.72 and a 12-month high of $379.23. The firm has a market capitalization of $67.52 billion, a PE ratio of 42.38, a price-to-earnings-growth ratio of 2.68 and a beta of 0.63. The company has a quick ratio of 1.02, a current ratio of 1.19 and a debt-to-equity ratio of 0.53. The stock’s fifty day moving average is $345.35 and its 200-day moving average is $307.31.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, beating analysts’ consensus estimates of $2.76 by $0.10. The business had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.76 billion. L3Harris Technologies had a return on equity of 10.43% and a net margin of 7.35%.L3Harris Technologies’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter last year, the company posted $3.47 EPS. Equities analysts anticipate that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be paid a dividend of $1.25 per share. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.20. This represents a $5.00 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Friday, March 6th. L3Harris Technologies’s payout ratio is currently 58.62%.

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.