L3Harris Technologies Inc $LHX Shares Bought by Capital Research Global Investors

Capital Research Global Investors grew its stake in L3Harris Technologies Inc (NYSE:LHX) by 23.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,657,085 shares of the company’s stock after purchasing an additional 312,846 shares during the period. Capital Research Global Investors owned approximately 0.89% of L3Harris Technologies worth $506,090,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of L3Harris Technologies by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 23,170,042 shares of the company’s stock worth $5,811,973,000 after acquiring an additional 121,619 shares in the last quarter. State Street Corp raised its position in shares of L3Harris Technologies by 1.2% in the second quarter. State Street Corp now owns 8,874,482 shares of the company’s stock valued at $2,226,075,000 after buying an additional 105,402 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of L3Harris Technologies by 0.8% during the 2nd quarter. Geode Capital Management LLC now owns 4,948,981 shares of the company’s stock worth $1,236,410,000 after purchasing an additional 38,820 shares during the period. Boston Partners boosted its stake in L3Harris Technologies by 72.1% in the 2nd quarter. Boston Partners now owns 2,002,211 shares of the company’s stock worth $504,160,000 after buying an additional 838,546 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in L3Harris Technologies by 3.1% in the second quarter. Bank of America Corp DE now owns 1,728,519 shares of the company’s stock valued at $433,582,000 after purchasing an additional 52,776 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Samir Mehta sold 5,528 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $370.32, for a total value of $2,047,128.96. Following the sale, the insider directly owned 7,756 shares in the company, valued at approximately $2,872,201.92. This represents a 41.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jon Rambeau sold 5,528 shares of L3Harris Technologies stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $370.32, for a total transaction of $2,047,128.96. Following the transaction, the insider directly owned 7,660 shares of the company’s stock, valued at $2,836,651.20. This represents a 41.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 19,025 shares of company stock valued at $6,824,370. 0.72% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on LHX. TD Cowen reissued a “buy” rating on shares of L3Harris Technologies in a research report on Monday, January 5th. Citigroup boosted their price target on L3Harris Technologies from $389.00 to $418.00 and gave the stock a “buy” rating in a research note on Thursday, February 5th. Weiss Ratings upgraded shares of L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, December 29th. UBS Group boosted their price target on L3Harris Technologies to $323.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. Finally, Wolfe Research reaffirmed an “outperform” rating on shares of L3Harris Technologies in a research report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $328.57.

L3Harris Technologies Stock Performance

Shares of LHX opened at $361.51 on Wednesday. The company has a 50-day moving average of $345.35 and a two-hundred day moving average of $307.31. The stock has a market cap of $67.52 billion, a price-to-earnings ratio of 42.38, a PEG ratio of 2.68 and a beta of 0.63. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.19 and a quick ratio of 1.02. L3Harris Technologies Inc has a one year low of $195.72 and a one year high of $379.23.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, beating the consensus estimate of $2.76 by $0.10. The firm had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.76 billion. L3Harris Technologies had a net margin of 7.35% and a return on equity of 10.43%. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.47 EPS. On average, equities research analysts expect 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 20th. Stockholders of record on Friday, March 6th will be given a $1.25 dividend. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.20. This represents a $5.00 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, March 6th. L3Harris Technologies’s dividend payout ratio (DPR) is 58.62%.

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.