Lbp Am Sa Boosts Stake in L3Harris Technologies Inc $LHX

Lbp Am Sa lifted its holdings in L3Harris Technologies Inc (NYSE:LHX) by 66.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 95,137 shares of the company’s stock after purchasing an additional 38,033 shares during the period. Lbp Am Sa’s holdings in L3Harris Technologies were worth $27,929,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of LHX. Caitlin John LLC purchased a new position in shares of L3Harris Technologies in the third quarter worth about $28,000. American National Bank & Trust lifted its stake in shares of L3Harris Technologies by 44.8% in the fourth quarter. American National Bank & Trust now owns 97 shares of the company’s stock worth $28,000 after buying an additional 30 shares in the last quarter. JPL Wealth Management LLC purchased a new position in shares of L3Harris Technologies in the third quarter worth about $29,000. Triumph Capital Management purchased a new position in shares of L3Harris Technologies in the third quarter worth about $31,000. Finally, GGM Financials LLC purchased a new position in shares of L3Harris Technologies in the third quarter worth about $32,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, 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 completion of the sale, the insider directly owned 7,660 shares in the company, valued at $2,836,651.20. This trade represents a 41.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Melanie Rakita sold 751 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 $278,110.32. Following the sale, the vice president owned 4,131 shares of the company’s stock, valued at approximately $1,529,791.92. This represents a 15.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 19,025 shares of company stock worth $6,824,370 over the last three months. Insiders own 0.68% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on LHX. JPMorgan Chase & Co. raised their price target on shares of L3Harris Technologies from $340.00 to $395.00 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. Susquehanna reissued a “positive” rating on shares of L3Harris Technologies in a research note on Thursday, January 15th. UBS Group raised their price target on shares of L3Harris Technologies to $323.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. Morgan Stanley raised their price target on shares of L3Harris Technologies from $367.00 to $390.00 and gave the stock an “overweight” rating in a research note on Monday, February 2nd. Finally, Weiss Ratings upgraded shares of L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $349.55.

L3Harris Technologies Price Performance

L3Harris Technologies stock opened at $356.16 on Thursday. L3Harris Technologies Inc has a 12-month low of $208.11 and a 12-month high of $379.23. The stock has a market cap of $66.53 billion, a P/E ratio of 41.75, a PEG ratio of 1.80 and a beta of 0.62. The company has a 50-day moving average price of $355.32 and a 200 day moving average price of $320.99. 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 (NYSE:LHX) last announced its quarterly earnings results on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $5.76 billion. During the same period last year, the business earned $3.47 earnings per share. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. Sell-side analysts anticipate that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Friday, March 6th were given a dividend of $1.25 per share. This is a boost 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 was Friday, March 6th. L3Harris Technologies’s dividend payout ratio (DPR) is 58.62%.

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.