Jupiter Asset Management Ltd. Has $4.25 Million Stake in L3Harris Technologies Inc $LHX

Jupiter Asset Management Ltd. increased its stake in L3Harris Technologies Inc (NYSE:LHX) by 12.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,907 shares of the company’s stock after acquiring an additional 1,542 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in L3Harris Technologies were worth $4,247,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of LHX. First Horizon Corp purchased a new stake in shares of L3Harris Technologies during the third quarter worth $10,667,000. Merit Financial Group LLC raised its stake in shares of L3Harris Technologies by 55.9% during the 3rd quarter. Merit Financial Group LLC now owns 9,989 shares of the company’s stock valued at $3,051,000 after purchasing an additional 3,583 shares during the period. Oregon Public Employees Retirement Fund lifted its holdings in L3Harris Technologies by 32.6% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 21,324 shares of the company’s stock worth $6,513,000 after purchasing an additional 5,239 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in L3Harris Technologies by 13.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,223 shares of the company’s stock worth $9,230,000 after purchasing an additional 3,532 shares during the period. Finally, Crystal Rock Capital Management purchased a new position in L3Harris Technologies during the 3rd quarter valued at about $1,993,000. 84.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

LHX has been the topic of a number of recent analyst reports. BNP Paribas Exane raised shares of L3Harris Technologies to a “hold” rating in a report on Tuesday, November 18th. Truist Financial set a $364.00 price target on shares of L3Harris Technologies in a report on Wednesday, January 14th. Wall Street Zen lowered shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. TD Cowen reiterated a “buy” rating on shares of L3Harris Technologies in a research report on Monday, January 5th. Finally, Royal Bank Of Canada boosted their target price on L3Harris Technologies from $360.00 to $365.00 and gave the stock a “sector perform” rating in a research report on Friday, January 30th. Fifteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $328.57.

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 stock was 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.72% of the company’s stock.

L3Harris Technologies Stock Performance

L3Harris Technologies stock opened at $355.84 on Friday. The firm’s fifty day moving average price is $328.43 and its 200-day moving average price is $299.57. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.19. The stock has a market cap of $66.46 billion, a P/E ratio of 41.72, a price-to-earnings-growth ratio of 2.57 and a beta of 0.64. L3Harris Technologies Inc has a fifty-two week low of $195.72 and a fifty-two week high of $369.59.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 7.35% and a return on equity of 10.43%. The firm’s revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.47 EPS. On average, equities research analysts expect that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

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

About L3Harris Technologies

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.