Elo Mutual Pension Insurance Co Acquires 7,308 Shares of L3Harris Technologies Inc $LHX

Elo Mutual Pension Insurance Co increased its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 34.0% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 28,795 shares of the company’s stock after purchasing an additional 7,308 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in L3Harris Technologies were worth $8,794,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of L3Harris Technologies by 0.5% during the second quarter. Vanguard Group Inc. now owns 23,170,042 shares of the company’s stock worth $5,811,973,000 after acquiring an additional 121,619 shares in the last quarter. State Street Corp boosted 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 worth $2,226,075,000 after purchasing an additional 105,402 shares during the period. Geode Capital Management LLC increased its holdings in L3Harris Technologies by 0.8% during the 2nd quarter. Geode Capital Management LLC now owns 4,948,981 shares of the company’s stock worth $1,236,410,000 after purchasing an additional 38,820 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of L3Harris Technologies by 52.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,117,030 shares of the company’s stock valued at $1,032,716,000 after purchasing an additional 1,413,833 shares during the period. Finally, Boston Partners lifted its holdings in shares of L3Harris Technologies by 72.1% in the second quarter. Boston Partners now owns 2,002,211 shares of the company’s stock valued at $504,160,000 after purchasing an additional 838,546 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

LHX has been the topic of a number of recent research reports. Wall Street Zen lowered L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. UBS Group lifted their price objective on shares of L3Harris Technologies to $323.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. Sanford C. Bernstein restated an “outperform” rating on shares of L3Harris Technologies in a report on Friday, February 6th. Citigroup raised their target price on shares of L3Harris Technologies from $389.00 to $418.00 and gave the company a “buy” rating in a research report on Thursday, February 5th. Finally, Argus raised shares of L3Harris Technologies to a “strong-buy” rating in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $328.57.

L3Harris Technologies Stock Performance

NYSE LHX opened at $378.63 on Tuesday. The firm has a market capitalization of $70.72 billion, a P/E ratio of 44.39, a price-to-earnings-growth ratio of 2.63 and a beta of 0.63. 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 firm’s fifty day moving average price is $337.11 and its two-hundred day moving average price is $303.41. L3Harris Technologies Inc has a 1 year low of $195.72 and a 1 year high of $379.23.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, topping the consensus estimate of $2.76 by $0.10. L3Harris Technologies had a net margin of 7.35% and a return on equity of 10.43%. The company had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.76 billion. During the same period in the previous year, the business earned $3.47 EPS. L3Harris Technologies’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, research analysts anticipate that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be given a $1.25 dividend. The ex-dividend date of this dividend is Friday, March 6th. This is a positive change 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 1.3%. L3Harris Technologies’s payout ratio is 56.27%.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, insider Samir Mehta sold 5,528 shares of L3Harris Technologies stock in a transaction on 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 transaction, the insider directly owned 7,756 shares of the company’s stock, valued at $2,872,201.92. The trade was a 41.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jon Rambeau sold 5,528 shares of the 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 transaction, the insider directly owned 7,660 shares in the company, valued at $2,836,651.20. The trade was a 41.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 19,025 shares of company stock worth $6,824,370. 0.72% of the stock is owned by company insiders.

Key Headlines Impacting L3Harris Technologies

Here are the key news stories impacting L3Harris Technologies this week:

• Positive Sentiment: L3Harris announced Kenneth (Ken) Sharp will become Senior Vice President and Chief Financial Officer effective March 16, and Kenneth (Ken) Bedingfield will focus full-time on leading Missile Solutions and scaling solid rocket motor production — management framed this as accelerating the segment to meet urgent missile demand and preparing Missile Solutions for an eventual IPO. Read More.
• Positive Sentiment: Analyst sentiment improved with an upgrade from Argus, a development that can boost short-term investor demand and validate the company’s outlook. Read More.
• Negative Sentiment: Insider Samir Mehta sold 5,528 shares at an average price of $370.32 (~$2.05M); the filing shows his ownership fell by ~41.6%, which investors may interpret as a negative signal about insider conviction. Read More.
• Negative Sentiment: Insider Jon Rambeau sold 5,528 shares at an average of $370.32 (~$2.05M), reducing his stake by ~41.9%; another large insider sale that could temper enthusiasm. Read More.
• Negative Sentiment: VP Melanie Rakita disclosed two recent sales (2,378 shares on Feb 26 at $341.45 and 751 shares on Mar 2 at $370.32), totaling 3,129 shares (~$1.09M); her filings show notable reductions in her holdings. Read More.

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.