L3Harris Technologies, Inc. (NYSE:LHX) Shares Bought by Vinva Investment Management Ltd

Vinva Investment Management Ltd grew its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 312.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 6,410 shares of the company’s stock after buying an additional 4,857 shares during the period. Vinva Investment Management Ltd’s holdings in L3Harris Technologies were worth $1,339,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LHX. Quest Partners LLC increased its position in L3Harris Technologies by 36,000.0% during the 3rd quarter. Quest Partners LLC now owns 361 shares of the company’s stock worth $86,000 after purchasing an additional 360 shares during the period. Fifth Third Wealth Advisors LLC increased its position in L3Harris Technologies by 30.7% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 2,397 shares of the company’s stock worth $570,000 after purchasing an additional 563 shares during the period. Avior Wealth Management LLC increased its position in L3Harris Technologies by 616.6% during the 3rd quarter. Avior Wealth Management LLC now owns 2,637 shares of the company’s stock worth $627,000 after purchasing an additional 2,269 shares during the period. Strategy Asset Managers LLC increased its position in L3Harris Technologies by 15.0% during the 3rd quarter. Strategy Asset Managers LLC now owns 1,586 shares of the company’s stock worth $377,000 after purchasing an additional 207 shares during the period. Finally, Advisors Asset Management Inc. increased its position in L3Harris Technologies by 33.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 24,873 shares of the company’s stock worth $5,917,000 after purchasing an additional 6,174 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Trading Down 1.5 %

Shares of L3Harris Technologies stock opened at $209.91 on Friday. L3Harris Technologies, Inc. has a fifty-two week low of $193.09 and a fifty-two week high of $265.74. The firm has a market cap of $39.40 billion, a PE ratio of 26.67, a P/E/G ratio of 2.42 and a beta of 0.74. The business’s fifty day moving average is $209.80 and its two-hundred day moving average is $226.46. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, topping analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. 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 21st. Shareholders of record on Monday, March 10th will be paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.16. L3Harris Technologies’s dividend payout ratio is currently 60.99%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. UBS Group upped their price target on L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Wells Fargo & Company lowered their price target on L3Harris Technologies from $269.00 to $268.00 and set an “overweight” rating on the stock in a report on Friday, March 7th. JPMorgan Chase & Co. lowered their price target on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Bank of America lowered their price target on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. Finally, Susquehanna lowered their price target on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $261.40.

Insiders Place Their Bets

In related news, insider Jon Rambeau sold 3,178 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $226.00, for a total value of $718,228.00. Following the transaction, the insider now directly owns 2,797 shares of the company’s stock, valued at approximately $632,122. This trade represents a 53.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Ross Niebergall sold 1,764 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $213.65, for a total value of $376,878.60. Following the completion of the transaction, the insider now directly owns 6,812 shares in the company, valued at $1,455,383.80. This trade represents a 20.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,098 shares of company stock valued at $1,760,588 in the last quarter. 0.72% of the stock is currently owned by company insiders.

L3Harris Technologies Company Profile

L3Harris Technologies, Inc provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides intelligence, surveillance, and reconnaissance (ISR) systems, passive sensing and targeting, electronic attack, autonomy, power and communications, and networks and sensors, as well as advanced combat systems for air, land, and sea sectors.