Capital International Inc. CA Has $12.58 Million Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Capital International Inc. CA raised its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 25.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 59,802 shares of the company’s stock after buying an additional 12,027 shares during the quarter. Capital International Inc. CA’s holdings in L3Harris Technologies were worth $12,575,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in L3Harris Technologies by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company’s stock worth $4,895,534,000 after purchasing an additional 401,168 shares during the period. Geode Capital Management LLC lifted its holdings in L3Harris Technologies by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 4,788,619 shares of the company’s stock worth $1,004,418,000 after acquiring an additional 53,787 shares in the last quarter. FMR LLC grew its stake in L3Harris Technologies by 11.5% in the fourth quarter. FMR LLC now owns 2,261,999 shares of the company’s stock valued at $475,653,000 after acquiring an additional 233,968 shares during the period. Invesco Ltd. raised its position in shares of L3Harris Technologies by 30.5% during the fourth quarter. Invesco Ltd. now owns 2,235,077 shares of the company’s stock worth $469,992,000 after purchasing an additional 522,861 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of L3Harris Technologies during the 4th quarter valued at about $398,507,000. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies Stock Down 0.4 %

Shares of LHX stock opened at $218.01 on Friday. L3Harris Technologies, Inc. has a 52-week low of $193.09 and a 52-week high of $265.74. The stock has a market cap of $40.92 billion, a price-to-earnings ratio of 27.70, a PEG ratio of 2.42 and a beta of 0.71. The firm’s 50-day moving average is $208.87 and its 200-day moving average is $223.03. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08.

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

L3Harris Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors 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 payout ratio is 60.99%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on LHX shares. Barclays cut their price target on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. JPMorgan Chase & Co. lowered their target price on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a report on Friday, January 31st. UBS Group boosted their price target on L3Harris Technologies from $228.00 to $237.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Deutsche Bank Aktiengesellschaft decreased their price objective on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a report on Thursday, January 2nd. Finally, Truist Financial cut their target price on L3Harris Technologies from $274.00 to $264.00 and set a “buy” rating on the stock in a research note on Thursday. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $256.35.

Insider Activity at L3Harris Technologies

In related news, insider Edward J. Zoiss sold 1,783 shares of L3Harris Technologies stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $211.48, for a total transaction of $377,068.84. Following the completion of the sale, the insider now directly owns 30,620 shares of the company’s stock, valued at approximately $6,475,517.60. This trade represents a 5.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jon Rambeau sold 3,178 shares of the company’s stock in a transaction on Monday, March 10th. The shares were 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 in the company, valued at approximately $632,122. This represents a 53.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is owned by company insiders.

L3Harris Technologies 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.