Capital Research Global Investors Has $506.09 Million Position in L3Harris Technologies Inc $LHX

Capital Research Global Investors raised its holdings in L3Harris Technologies Inc (NYSE:LHX) by 23.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,657,085 shares of the company’s stock after acquiring an additional 312,846 shares during the period. Capital Research Global Investors’ holdings in L3Harris Technologies were worth $506,090,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Caitlin John LLC bought a new stake in L3Harris Technologies in the 3rd quarter valued at approximately $28,000. GGM Financials LLC bought a new stake in shares of L3Harris Technologies in the 3rd quarter valued at about $32,000. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of L3Harris Technologies in the second quarter valued at approximately $34,000. Salomon & Ludwin LLC bought a new position in L3Harris Technologies during the third quarter worth $34,000. Finally, Rakuten Securities Inc. boosted its holdings in shares of 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 buying an additional 108 shares during the period. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $361.51 on Wednesday. The stock’s 50-day moving average is $345.35 and its 200-day moving average is $307.31. L3Harris Technologies Inc has a 1-year low of $195.72 and a 1-year high of $379.23. 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 market cap of $67.52 billion, a P/E ratio of 42.38, a price-to-earnings-growth ratio of 2.68 and a beta of 0.63.

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

L3Harris Technologies Increases Dividend

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

Insiders Place Their Bets

In other news, VP Melanie Rakita sold 751 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 $278,110.32. Following the completion of the sale, the vice president owned 4,131 shares in the company, valued at $1,529,791.92. The trade was a 15.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Samir Mehta sold 5,528 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $370.32, for a total value of $2,047,128.96. Following the completion of 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 position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 19,025 shares of company stock worth $6,824,370. 0.72% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on LHX. UBS Group upped their price target on shares of L3Harris Technologies to $323.00 and gave the company a “neutral” rating in a research note on Wednesday, January 14th. Argus raised shares of L3Harris Technologies to a “strong-buy” rating in a research note on Friday, February 27th. Wall Street Zen downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Truist Financial set a $364.00 target price on L3Harris Technologies in a report on Wednesday, January 14th. Finally, Morgan Stanley upped their price objective on L3Harris Technologies from $367.00 to $390.00 and gave the stock an “overweight” rating in a research report on Monday, February 2nd. One equities 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 company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus 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.