Mackenzie Financial Corp Grows Stock Holdings in L3Harris Technologies Inc $LHX

Mackenzie Financial Corp lifted its holdings in L3Harris Technologies Inc (NYSE:LHX) by 2.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 111,260 shares of the company’s stock after acquiring an additional 2,225 shares during the period. Mackenzie Financial Corp’s holdings in L3Harris Technologies were worth $33,980,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Caitlin John LLC purchased a new stake in L3Harris Technologies during the 3rd quarter worth $28,000. GGM Financials LLC purchased a new position in L3Harris Technologies in the third quarter valued at about $32,000. Salomon & Ludwin LLC purchased a new position in L3Harris Technologies in the third quarter valued at about $34,000. Twin Peaks Wealth Advisors LLC acquired a new position in shares of L3Harris Technologies during the second quarter worth about $34,000. Finally, Copia Wealth Management lifted its stake in shares of L3Harris Technologies by 1,842.9% during 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 and hedge funds own 84.76% of the company’s stock.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Jon Rambeau 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 7,660 shares in the company, valued at approximately $2,836,651.20. This represents a 41.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Samir Mehta sold 5,528 shares of the stock in a transaction dated 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 completion of the sale, the insider directly owned 7,756 shares in the company, valued at approximately $2,872,201.92. This trade represents a 41.61% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 19,025 shares of company stock worth $6,824,370. 0.72% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

LHX has been the subject of a number of recent research reports. Susquehanna reiterated a “positive” rating on shares of L3Harris Technologies in a research note on Thursday, January 15th. BNP Paribas Exane initiated coverage on L3Harris Technologies in a research report on Tuesday, November 18th. They set a “neutral” rating and a $290.00 price target on the stock. Citigroup upped their price target on L3Harris Technologies from $389.00 to $418.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. Morgan Stanley increased their price objective on shares of L3Harris Technologies from $367.00 to $390.00 and gave the company an “overweight” rating in a research report on Monday, February 2nd. Finally, Truist Financial set a $364.00 price objective on shares of L3Harris Technologies in a research note on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, L3Harris Technologies currently has an average rating of “Moderate Buy” and an average target price of $328.57.

L3Harris Technologies Stock Performance

LHX stock opened at $357.15 on Friday. The firm has a market cap of $66.71 billion, a P/E ratio of 41.87, a P/E/G ratio of 2.63 and a beta of 0.63. The stock’s 50 day simple moving average is $348.03 and its 200 day simple moving average is $308.06. The company has a current ratio of 1.19, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. L3Harris Technologies Inc has a 12-month low of $195.72 and a 12-month high of $379.23.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, January 29th. The company reported $2.86 EPS for the quarter, beating 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 business 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 posted $3.47 EPS. The company’s quarterly revenue was up 2.3% on a year-over-year basis. As a group, equities research analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

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

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.