International Assets Investment Management LLC Acquires Shares of 127,504 L3Harris Technologies, Inc. (NYSE:LHX)

International Assets Investment Management LLC bought a new position in L3Harris Technologies, Inc. (NYSE:LHX) during the 4th quarter, HoldingsChannel reports. The fund bought 127,504 shares of the company’s stock, valued at approximately $26,855,000.

Several other institutional investors have also recently added to or reduced their stakes in LHX. Mondrian Investment Partners LTD increased its holdings in shares of L3Harris Technologies by 32,907.5% during the third quarter. Mondrian Investment Partners LTD now owns 380,246 shares of the company’s stock worth $66,208,000 after buying an additional 379,094 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in L3Harris Technologies by 53.3% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 853,238 shares of the company’s stock worth $179,709,000 after purchasing an additional 296,654 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its stake in L3Harris Technologies by 22.5% in the third quarter. Diamond Hill Capital Management Inc. now owns 1,450,040 shares of the company’s stock worth $252,481,000 after purchasing an additional 266,468 shares in the last quarter. Mizuho Markets Americas LLC bought a new stake in shares of L3Harris Technologies during the third quarter worth $35,207,000. Finally, Invesco Ltd. increased its stake in shares of L3Harris Technologies by 15.3% in the third quarter. Invesco Ltd. now owns 1,459,837 shares of the company’s stock valued at $254,187,000 after buying an additional 193,690 shares in the last quarter. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies Price Performance

Shares of LHX stock opened at $212.24 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.98 and a debt-to-equity ratio of 0.59. L3Harris Technologies, Inc. has a 12-month low of $160.25 and a 12-month high of $218.34. The firm has a fifty day moving average of $210.22 and a 200-day moving average of $202.31. The firm has a market capitalization of $40.26 billion, a price-to-earnings ratio of 34.45, a price-to-earnings-growth ratio of 1.88 and a beta of 0.63.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, April 25th. The company reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.89 by $0.17. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The company had revenue of $5.21 billion during the quarter, compared to the consensus estimate of $5.11 billion. During the same period in the prior year, the company earned $2.86 earnings per share. The company’s revenue for the quarter was up 16.6% compared to the same quarter last year. On average, equities research analysts forecast that L3Harris Technologies, Inc. will post 12.87 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be issued a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend is Friday, May 31st. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

Insider Transactions at L3Harris Technologies

In related news, Director William H. Swanson acquired 1,250 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were acquired at an average cost of $215.35 per share, with a total value of $269,187.50. Following the transaction, the director now owns 1,543 shares of the company’s stock, valued at approximately $332,285.05. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Christopher E. Kubasik sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the completion of the transaction, the chief executive officer now directly owns 116,175 shares of the company’s stock, valued at approximately $24,654,658.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William H. Swanson acquired 1,250 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was acquired at an average cost of $215.35 per share, for a total transaction of $269,187.50. Following the transaction, the director now owns 1,543 shares of the company’s stock, valued at $332,285.05. The disclosure for this purchase can be found here. Insiders sold 48,362 shares of company stock valued at $10,261,360 over the last quarter. Corporate insiders own 0.82% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on LHX shares. UBS Group increased their price objective on shares of L3Harris Technologies from $222.00 to $229.00 and gave the stock a “neutral” rating in a report on Monday, January 29th. Royal Bank of Canada raised their price target on shares of L3Harris Technologies from $245.00 to $250.00 and gave the company an “outperform” rating in a report on Monday, April 29th. Wells Fargo & Company decreased their price objective on L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 30th. Barclays boosted their target price on L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Citigroup raised their price target on L3Harris Technologies from $238.00 to $245.00 and gave the company a “buy” rating in a report on Tuesday, February 13th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $231.33.

L3Harris Technologies Profile

L3Harris Technologies, Inc provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides intelligence, surveillance, and reconnaissance (ISR) systems, passive sensing and targeting, electronic attack, autonomy, power and communications, and networks and sensors, as well as advanced combat systems for air, land, and sea sectors.