King Luther Capital Management Corp Raises Stock Holdings in L3Harris Technologies Inc $LHX

King Luther Capital Management Corp boosted its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 10.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 283,734 shares of the company’s stock after buying an additional 25,715 shares during the quarter. King Luther Capital Management Corp’s holdings in L3Harris Technologies were worth $86,655,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Salomon & Ludwin LLC purchased a new position in L3Harris Technologies during the 3rd quarter valued at about $34,000. Twin Peaks Wealth Advisors LLC purchased a new stake in L3Harris Technologies in the 2nd quarter worth approximately $34,000. Copia Wealth Management grew its position in shares of L3Harris Technologies by 1,842.9% in the 3rd quarter. Copia Wealth Management now owns 136 shares of the company’s stock worth $42,000 after buying an additional 129 shares during the last quarter. Steigerwald Gordon & Koch Inc. purchased a new position in shares of L3Harris Technologies during the third quarter valued at approximately $42,000. Finally, Westside Investment Management Inc. increased its stake in shares of L3Harris Technologies by 100.0% during the third quarter. Westside Investment Management Inc. now owns 142 shares of the company’s stock valued at $43,000 after buying an additional 71 shares during the period. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Up 1.7%

Shares of L3Harris Technologies stock opened at $352.50 on Thursday. L3Harris Technologies Inc has a 1 year low of $193.09 and a 1 year high of $369.59. The firm has a market cap of $65.84 billion, a price-to-earnings ratio of 41.32, a PEG ratio of 2.50 and a beta of 0.64. The company has a 50-day moving average of $325.67 and a 200 day moving average of $298.47. 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 (NYSE:LHX) last announced its quarterly earnings data on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, topping analysts’ consensus estimates of $2.76 by $0.10. L3Harris Technologies had a net margin of 7.35% and a return on equity of 10.43%. The business had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.76 billion. During the same quarter in the prior year, the company earned $3.47 earnings per share. The business’s revenue was up 2.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be paid a $1.25 dividend. This is an increase 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%. The ex-dividend date of this dividend is Friday, March 6th. L3Harris Technologies’s payout ratio is currently 56.27%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on LHX shares. Truist Financial set a $364.00 price target on shares of L3Harris Technologies in a report on Wednesday, January 14th. Vertical Research reaffirmed a “buy” rating and issued a $355.00 target price on shares of L3Harris Technologies in a research report on Tuesday, January 13th. Royal Bank Of Canada boosted their price target on shares of L3Harris Technologies from $360.00 to $365.00 and gave the company a “sector perform” rating in a research report on Friday, January 30th. Wolfe Research reissued an “outperform” rating on shares of L3Harris Technologies in a research note on Friday, January 30th. Finally, Susquehanna restated a “positive” rating on shares of L3Harris Technologies in a report on Thursday, January 15th. Fifteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, L3Harris Technologies has an average rating of “Moderate Buy” and a consensus target price of $328.57.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Samir Mehta sold 4,840 shares of L3Harris Technologies stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $338.85, for a total value of $1,640,034.00. Following the completion of the transaction, the insider owned 5,916 shares of the company’s stock, valued at $2,004,636.60. The trade was a 45.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.72% of the stock is owned by insiders.

L3Harris Technologies 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.