Mizuho Markets Cayman LP Purchases New Stake in L3Harris Technologies Inc $LHX

Mizuho Markets Cayman LP acquired a new position in shares of L3Harris Technologies Inc (NYSE:LHX) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,450 shares of the company’s stock, valued at approximately $1,054,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. lifted 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 buying an additional 121,619 shares during the last quarter. State Street Corp grew its stake in L3Harris Technologies by 1.2% in the 2nd 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. Boston Partners raised its holdings in L3Harris Technologies by 72.1% in the 2nd quarter. Boston Partners now owns 2,002,211 shares of the company’s stock valued at $504,160,000 after acquiring an additional 838,546 shares during the period. Bank of America Corp DE raised its holdings in L3Harris Technologies by 3.1% in the 2nd quarter. Bank of America Corp DE now owns 1,728,519 shares of the company’s stock valued at $433,582,000 after acquiring an additional 52,776 shares during the period. Finally, Capital Research Global Investors lifted its position in L3Harris Technologies by 23.3% during the third quarter. Capital Research Global Investors now owns 1,657,085 shares of the company’s stock worth $506,090,000 after acquiring an additional 312,846 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

LHX has been the subject of a number of research analyst reports. TD Cowen restated a “buy” rating on shares of L3Harris Technologies in a report on Monday, January 5th. Argus raised L3Harris Technologies to a “strong-buy” rating in a report on Friday, February 27th. JPMorgan Chase & Co. boosted their price target on L3Harris Technologies from $340.00 to $395.00 and gave the company an “overweight” rating in a research note on Thursday, February 5th. Wall Street Zen lowered L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Finally, Susquehanna reiterated a “positive” rating on shares of L3Harris Technologies in a research report on Thursday, January 15th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $328.57.

L3Harris Technologies Trading Up 0.7%

Shares of LHX stock opened at $368.84 on Wednesday. The stock has a 50 day simple moving average of $351.30 and a 200 day simple moving average of $310.34. L3Harris Technologies Inc has a 1 year low of $195.72 and a 1 year high of $379.23. The company has a current ratio of 1.19, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. The stock has a market cap of $68.89 billion, a P/E ratio of 43.24, a price-to-earnings-growth ratio of 2.64 and a beta of 0.63.

L3Harris Technologies (NYSE:LHX) last announced 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 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 company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.47 EPS. On average, research analysts predict that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 1.4%. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.20. The ex-dividend date of this dividend is Friday, March 6th. L3Harris Technologies’s payout ratio is presently 58.62%.

Insider Activity at L3Harris Technologies

In related news, VP Melanie Rakita sold 2,378 shares of the company’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $341.45, for a total transaction of $811,968.10. Following the completion of the sale, the vice president owned 4,882 shares of the company’s stock, valued at $1,666,958.90. This represents a 32.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Samir Mehta sold 5,528 shares of the stock in a transaction dated 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 sale, the insider 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 19,025 shares of company stock valued at $6,824,370 over the last quarter. 0.72% of the stock is owned by corporate 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.