Mondrian Investment Partners LTD Invests $82.02 Million in L3Harris Technologies Inc $LHX

Mondrian Investment Partners LTD acquired a new stake in L3Harris Technologies Inc (NYSE:LHX) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 268,567 shares of the company’s stock, valued at approximately $82,023,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Twin Peaks Wealth Advisors LLC acquired a new position in L3Harris Technologies during the second quarter valued at approximately $34,000. Salomon & Ludwin LLC bought a new stake in shares of L3Harris Technologies during the 3rd quarter worth approximately $34,000. Rakuten Securities Inc. boosted its holdings in shares of L3Harris Technologies by 234.8% in the 2nd quarter. Rakuten Securities Inc. now owns 154 shares of the company’s stock valued at $39,000 after buying an additional 108 shares during the last quarter. Steigerwald Gordon & Koch Inc. bought a new position in shares of L3Harris Technologies in the third quarter valued at $42,000. Finally, Copia Wealth Management grew its stake in shares of L3Harris Technologies by 1,842.9% in the third quarter. Copia Wealth Management now owns 136 shares of the company’s stock valued at $42,000 after buying an additional 129 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

Insider Activity at L3Harris Technologies

In related news, insider Samir Mehta sold 4,840 shares of the firm’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $338.85, for a total transaction of $1,640,034.00. Following the transaction, the insider directly owned 5,916 shares of the company’s stock, valued at approximately $2,004,636.60. This trade represents a 45.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on LHX shares. Morgan Stanley upped their price target on shares of L3Harris Technologies from $367.00 to $390.00 and gave the stock an “overweight” rating in a research report on Monday, February 2nd. Wall Street Zen cut shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. JPMorgan Chase & Co. lifted their price target on L3Harris Technologies from $340.00 to $395.00 and gave the stock an “overweight” rating in a report on Thursday, February 5th. Susquehanna reissued a “positive” rating on shares of L3Harris Technologies in a research report on Thursday, January 15th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of L3Harris Technologies in a research report on Friday, February 6th. Fifteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, L3Harris Technologies has an average rating of “Moderate Buy” and a consensus price target of $328.57.

L3Harris Technologies Trading Up 1.5%

Shares of NYSE:LHX opened at $345.07 on Tuesday. L3Harris Technologies Inc has a 12-month low of $193.09 and a 12-month high of $369.59. The business has a 50 day moving average of $322.96 and a 200-day moving average of $297.60. The company has a quick ratio of 1.02, a current ratio of 1.19 and a debt-to-equity ratio of 0.53. The stock has a market cap of $64.45 billion, a PE ratio of 40.45, a P/E/G ratio of 2.49 and a beta of 0.64.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, topping the consensus estimate of $2.76 by $0.10. The business had revenue of $5.65 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 2.3% compared to the same quarter last year. During the same period last year, the firm posted $3.47 EPS. As a group, equities research analysts forecast that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be given a $1.25 dividend. The ex-dividend date of this dividend is Friday, March 6th. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.20. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.4%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 56.27%.

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.