Mizuho Markets Cayman LP Makes New $1.05 Million Investment in L3Harris Technologies Inc $LHX

Mizuho Markets Cayman LP purchased a new stake in L3Harris Technologies Inc (NYSE:LHX) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 3,450 shares of the company’s stock, valued at approximately $1,054,000.

A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of L3Harris Technologies by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 23,170,042 shares of the company’s stock worth $5,811,973,000 after buying an additional 121,619 shares during the last quarter. State Street Corp grew its position in L3Harris Technologies by 1.2% in the second quarter. State Street Corp now owns 8,874,482 shares of the company’s stock valued at $2,226,075,000 after acquiring an additional 105,402 shares during the last quarter. Boston Partners grew its position in L3Harris Technologies by 72.1% in the second quarter. Boston Partners now owns 2,002,211 shares of the company’s stock valued at $504,160,000 after acquiring an additional 838,546 shares during the last quarter. Bank of America Corp DE raised its stake in L3Harris Technologies by 3.1% during the second quarter. Bank of America Corp DE now owns 1,728,519 shares of the company’s stock worth $433,582,000 after acquiring an additional 52,776 shares in the last quarter. Finally, Capital Research Global Investors raised its stake in L3Harris Technologies by 23.3% during the third quarter. Capital Research Global Investors now owns 1,657,085 shares of the company’s stock worth $506,090,000 after acquiring an additional 312,846 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analysts Set New Price Targets

LHX has been the topic of a number of research analyst reports. Weiss Ratings upgraded shares of L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, December 29th. BNP Paribas Exane upgraded shares of L3Harris Technologies to a “hold” rating in a research report on Tuesday, November 18th. 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 note on Monday, February 2nd. Wall Street Zen lowered shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Finally, Susquehanna reiterated a “positive” rating on shares of L3Harris Technologies in a report on Thursday, January 15th. One equities research 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’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $328.57.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Samir Mehta sold 5,528 shares of the company’s stock in a transaction dated 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 sale, 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. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jon Rambeau sold 5,528 shares of the stock in a transaction that occurred on 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 sale, the insider directly owned 7,660 shares of the company’s stock, valued at $2,836,651.20. This represents a 41.92% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 19,025 shares of company stock worth $6,824,370. 0.72% of the stock is currently owned by company insiders.

L3Harris Technologies Stock Performance

Shares of LHX stock opened at $368.84 on Wednesday. The firm has a market capitalization of $68.89 billion, a price-to-earnings ratio of 43.24, a PEG ratio of 2.64 and a beta of 0.63. 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 business’s 50-day moving average price is $351.30 and its 200-day moving average price is $310.34. L3Harris Technologies Inc has a 12 month low of $195.72 and a 12 month high of $379.23.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data 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. The company had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.76 billion. L3Harris Technologies had a return on equity of 10.43% and a net margin of 7.35%.The firm’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.47 earnings per share. Equities research analysts forecast that L3Harris Technologies Inc will post 11.12 EPS 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 given a $1.25 dividend. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.20. The ex-dividend date is Friday, March 6th. This represents a $5.00 annualized dividend and a yield of 1.4%. L3Harris Technologies’s dividend payout ratio is currently 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.