L3Harris Technologies Inc $LHX Shares Acquired by Intech Investment Management LLC

Intech Investment Management LLC boosted its holdings in L3Harris Technologies Inc (NYSE:LHX) by 298.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 25,906 shares of the company’s stock after purchasing an additional 19,410 shares during the period. Intech Investment Management LLC’s holdings in L3Harris Technologies were worth $7,912,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. GGM Financials LLC purchased a new position in shares of L3Harris Technologies during the 3rd quarter valued at approximately $32,000. Twin Peaks Wealth Advisors LLC acquired a new stake in L3Harris Technologies in the second quarter valued at $34,000. Salomon & Ludwin LLC bought a new position in L3Harris Technologies during the 3rd quarter valued at $34,000. Rakuten Securities Inc. grew its holdings in L3Harris Technologies by 234.8% during the 2nd quarter. Rakuten Securities Inc. now owns 154 shares of the company’s stock worth $39,000 after acquiring an additional 108 shares in the last quarter. Finally, Steigerwald Gordon & Koch Inc. bought a new stake in shares of L3Harris Technologies in the 3rd quarter worth about $42,000. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Samir Mehta sold 4,840 shares of the firm’s stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $338.85, for a total value of $1,640,034.00. Following the sale, the insider directly owned 5,916 shares in the company, valued at $2,004,636.60. This trade represents a 45.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.72% of the stock is currently owned by corporate insiders.

L3Harris Technologies Stock Up 2.6%

NYSE:LHX opened at $364.50 on Friday. 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 stock has a 50 day moving average of $335.43 and a 200-day moving average of $302.20. The firm has a market capitalization of $68.08 billion, a PE ratio of 42.73, a price-to-earnings-growth ratio of 2.56 and a beta of 0.64. L3Harris Technologies Inc has a 52 week low of $195.72 and a 52 week high of $369.59.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results 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. 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 quarter in the previous year, the company posted $3.47 earnings per share. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. Analysts predict 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. Investors of record on Friday, March 6th will be issued a $1.25 dividend. This is a positive change 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 dividend on an annualized basis and a yield of 1.4%. L3Harris Technologies’s dividend payout ratio is currently 56.27%.

Analyst Ratings Changes

Several brokerages have recently commented on LHX. TD Cowen reaffirmed a “buy” rating on shares of L3Harris Technologies in a research report on Monday, January 5th. Weiss Ratings upgraded L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, December 29th. Vertical Research reiterated a “buy” rating and issued a $355.00 target price on shares of L3Harris Technologies in a research report on Tuesday, January 13th. Susquehanna reiterated a “positive” rating on shares of L3Harris Technologies in a report on Thursday, January 15th. Finally, Wolfe Research restated an “outperform” rating on shares of L3Harris Technologies in a research note on Friday, January 30th. Fifteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $328.57.

L3Harris Technologies 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.