Raiffeisen Bank International AG Boosts Position in L3Harris Technologies Inc $LHX

Raiffeisen Bank International AG boosted its position in L3Harris Technologies Inc (NYSE:LHX) by 1,689.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,508 shares of the company’s stock after purchasing an additional 3,312 shares during the period. Raiffeisen Bank International AG’s holdings in L3Harris Technologies were worth $1,042,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. First Horizon Corp purchased a new position in L3Harris Technologies during the third quarter valued at $10,667,000. Merit Financial Group LLC raised its stake in shares of L3Harris Technologies by 55.9% in the third quarter. Merit Financial Group LLC now owns 9,989 shares of the company’s stock worth $3,051,000 after buying an additional 3,583 shares during the period. Oregon Public Employees Retirement Fund lifted its position in shares of L3Harris Technologies by 32.6% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 21,324 shares of the company’s stock valued at $6,513,000 after buying an additional 5,239 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of L3Harris Technologies by 13.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,223 shares of the company’s stock valued at $9,230,000 after buying an additional 3,532 shares in the last quarter. Finally, Crystal Rock Capital Management bought a new position in shares of L3Harris Technologies during the 3rd quarter valued at approximately $1,993,000. 84.76% of the stock is currently owned by institutional investors.

Insider Buying and Selling at L3Harris Technologies

In related news, insider Samir Mehta sold 4,840 shares of the firm’s stock in a transaction on Thursday, February 5th. The shares were 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 directly owned 5,916 shares of the company’s stock, valued at approximately $2,004,636.60. This trade represents a 45.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.72% of the company’s stock.

L3Harris Technologies Stock Down 0.8%

LHX opened at $355.84 on Monday. The company has a market capitalization of $66.46 billion, a PE ratio of 41.72, a price-to-earnings-growth ratio of 2.57 and a beta of 0.64. The firm has a 50-day simple moving average of $328.43 and a two-hundred day simple moving average of $299.73. The company has a quick ratio of 1.02, a current ratio of 1.19 and a debt-to-equity ratio of 0.53. L3Harris Technologies Inc has a 52 week low of $195.72 and a 52 week high of $369.59.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.76 by $0.10. L3Harris Technologies had a return on equity of 10.43% and a net margin of 7.35%.The firm had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.76 billion. During the same period in the previous year, the firm posted $3.47 earnings per share. The business’s revenue was up 2.3% compared to the same quarter last year. Analysts forecast that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be given a dividend of $1.25 per share. The ex-dividend date is Friday, March 6th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.4%. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.20. L3Harris Technologies’s dividend payout ratio is currently 56.27%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. BNP Paribas Exane raised shares of L3Harris Technologies to a “hold” rating in a report on Tuesday, November 18th. JPMorgan Chase & Co. raised their price objective on shares of L3Harris Technologies from $340.00 to $395.00 and gave the company an “overweight” rating in a research report on Thursday, February 5th. Truist Financial set a $364.00 target price on shares of L3Harris Technologies in a report on Wednesday, January 14th. Wolfe Research reissued an “outperform” rating on shares of L3Harris Technologies in a report on Friday, January 30th. Finally, Vertical Research restated a “buy” rating and issued a $355.00 price objective on shares of L3Harris Technologies in a research report on Tuesday, January 13th. Fifteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, L3Harris Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $328.57.

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.