MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Raises Stock Position in L3Harris Technologies Inc $LHX

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 45.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 900,532 shares of the company’s stock after acquiring an additional 282,182 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.48% of L3Harris Technologies worth $275,031,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Caitlin John LLC purchased a new position in L3Harris Technologies in the 3rd quarter worth approximately $28,000. JPL Wealth Management LLC purchased a new stake in L3Harris Technologies during the 3rd quarter valued at approximately $29,000. GGM Financials LLC purchased a new stake in L3Harris Technologies during the 3rd quarter valued at approximately $32,000. Twin Peaks Wealth Advisors LLC bought a new stake in shares of L3Harris Technologies during the second quarter valued at approximately $34,000. Finally, Salomon & Ludwin LLC bought a new stake in shares of L3Harris Technologies during the third quarter valued at approximately $34,000. Institutional investors own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Citigroup upped their target price on shares of L3Harris Technologies from $389.00 to $418.00 and gave the stock a “buy” rating in a research report on Thursday, February 5th. Truist Financial set a $364.00 price target on shares of L3Harris Technologies in a report on Wednesday, January 14th. Argus raised shares of L3Harris Technologies to a “strong-buy” rating in a report on Friday, February 27th. Royal Bank Of Canada raised their price objective 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, Morgan Stanley lifted their target price on L3Harris Technologies from $367.00 to $390.00 and gave the stock an “overweight” rating in a report on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $328.57.

L3Harris Technologies Trading Up 2.1%

LHX stock opened at $366.41 on Tuesday. The firm has a fifty day moving average price of $350.22 and a 200 day moving average price of $309.70. L3Harris Technologies Inc has a fifty-two week low of $195.72 and a fifty-two week high of $379.23. The firm has a market cap of $68.44 billion, a PE ratio of 42.96, a price-to-earnings-growth ratio of 2.59 and a beta of 0.63. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.19.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $5.76 billion. During the same quarter in the prior year, the firm earned $3.47 earnings per share. L3Harris Technologies’s revenue was up 2.3% on a year-over-year basis. Sell-side analysts anticipate that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

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

Insider Activity

In other L3Harris Technologies news, insider Samir Mehta sold 5,528 shares of the business’s 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 sale, the insider directly owned 7,756 shares of the company’s stock, valued at $2,872,201.92. The trade was a 41.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Melanie Rakita sold 751 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $370.32, for a total value of $278,110.32. Following the sale, the vice president owned 4,131 shares in the company, valued at approximately $1,529,791.92. This trade represents a 15.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 19,025 shares of company stock worth $6,824,370. 0.72% of the stock is currently owned by corporate 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.