Capital International Sarl Increases Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Capital International Sarl raised its position in L3Harris Technologies, Inc. (NYSE:LHX) by 6.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,768 shares of the company’s stock after purchasing an additional 1,467 shares during the quarter. Capital International Sarl’s holdings in L3Harris Technologies were worth $5,418,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Meeder Asset Management Inc. increased its stake in L3Harris Technologies by 234.3% in the fourth quarter. Meeder Asset Management Inc. now owns 117 shares of the company’s stock worth $25,000 after purchasing an additional 82 shares during the period. Millstone Evans Group LLC purchased a new position in L3Harris Technologies in the 4th quarter worth about $26,000. Bradley & Co. Private Wealth Management LLC bought a new stake in L3Harris Technologies during the 4th quarter valued at about $27,000. Roxbury Financial LLC bought a new stake in L3Harris Technologies during the 4th quarter valued at about $30,000. Finally, Union Bancaire Privee UBP SA bought a new position in L3Harris Technologies in the 4th quarter worth about $33,000. Institutional investors own 84.76% of the company’s stock.

Insider Buying and Selling

In other news, insider Edward J. Zoiss sold 1,783 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $211.48, for a total transaction of $377,068.84. Following the sale, the insider now directly owns 30,620 shares in the company, valued at $6,475,517.60. This trade represents a 5.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jon Rambeau sold 3,178 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $226.00, for a total value of $718,228.00. Following the completion of the transaction, the insider now directly owns 2,797 shares of the company’s stock, valued at $632,122. The trade was a 53.19 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Wells Fargo & Company decreased their price target on shares of L3Harris Technologies from $268.00 to $242.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft lowered their target price on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a report on Thursday, January 2nd. Barclays decreased their price objective on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Susquehanna cut their target price on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Finally, Sanford C. Bernstein raised shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and cut their price objective for the company from $289.00 to $267.00 in a report on Wednesday, January 8th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $256.35.

L3Harris Technologies Price Performance

Shares of NYSE:LHX opened at $218.01 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. L3Harris Technologies, Inc. has a twelve month low of $193.09 and a twelve month high of $265.74. The company’s 50 day moving average is $208.87 and its 200 day moving average is $223.18. The company has a market cap of $40.92 billion, a PE ratio of 27.70, a price-to-earnings-growth ratio of 2.42 and a beta of 0.71.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, January 30th. The company reported $3.47 EPS for the quarter, beating the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. On average, sell-side analysts forecast that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 2.20%. L3Harris Technologies’s dividend payout ratio (DPR) is 60.99%.

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.