L3Harris Technologies Inc $LHX Shares Purchased by Korea Investment CORP

Korea Investment CORP raised its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 11.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 153,567 shares of the company’s stock after purchasing an additional 15,408 shares during the quarter. Korea Investment CORP owned about 0.08% of L3Harris Technologies worth $46,901,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Brighton Jones LLC lifted its holdings in shares of L3Harris Technologies by 233.9% in the fourth quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock valued at $901,000 after buying an additional 3,001 shares during the period. Texas Yale Capital Corp. acquired a new position in L3Harris Technologies during the second quarter worth about $251,000. Savant Capital LLC grew its holdings in L3Harris Technologies by 11.0% during the second quarter. Savant Capital LLC now owns 8,168 shares of the company’s stock worth $2,049,000 after acquiring an additional 810 shares during the period. Vestmark Advisory Solutions Inc. raised its position in L3Harris Technologies by 113.7% in the second quarter. Vestmark Advisory Solutions Inc. now owns 8,356 shares of the company’s stock worth $2,096,000 after acquiring an additional 4,446 shares in the last quarter. Finally, Metis Global Partners LLC raised its position in L3Harris Technologies by 13.6% in the second quarter. Metis Global Partners LLC now owns 8,672 shares of the company’s stock worth $2,175,000 after acquiring an additional 1,038 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

LHX opened at $365.83 on Monday. The stock has a fifty day moving average price of $342.52 and a 200 day moving average price of $306.04. The company has a current ratio of 1.19, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. L3Harris Technologies Inc has a 1 year low of $195.72 and a 1 year high of $379.23. The stock has a market cap of $68.33 billion, a price-to-earnings ratio of 42.89, a PEG ratio of 2.64 and a beta of 0.63.

L3Harris Technologies (NYSE:LHX) last issued its 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 company had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.76 billion. L3Harris Technologies had a return on equity of 10.43% and a net margin of 7.35%.The business’s revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.47 EPS. Analysts forecast that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be given a dividend of $1.25 per share. 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 annualized dividend and a yield of 1.4%. L3Harris Technologies’s payout ratio is 58.62%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on LHX shares. Citigroup raised their price objective on shares of L3Harris Technologies from $389.00 to $418.00 and gave the company a “buy” rating in a research report on Thursday, February 5th. TD Cowen restated a “buy” rating on shares of L3Harris Technologies in a report on Monday, January 5th. BNP Paribas Exane upgraded shares of L3Harris Technologies to a “hold” rating in a research report on Tuesday, November 18th. Wall Street Zen cut L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Finally, Wolfe Research reiterated 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 issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $328.57.

Insider Buying and Selling at L3Harris Technologies

In related news, VP Melanie Rakita sold 751 shares of L3Harris Technologies stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $370.32, for a total value of $278,110.32. Following the completion of the sale, the vice president owned 4,131 shares of the company’s stock, valued at approximately $1,529,791.92. The trade was a 15.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Samir Mehta sold 5,528 shares of the stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $370.32, for a total transaction of $2,047,128.96. Following the transaction, the insider directly owned 7,756 shares in the company, valued at $2,872,201.92. The trade was a 41.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 19,025 shares of company stock worth $6,824,370 over the last ninety days. 0.72% of the stock is currently owned by insiders.

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.