Banque Cantonale Vaudoise Raises Stock Position in L3Harris Technologies Inc $LHX

Banque Cantonale Vaudoise raised its stake in L3Harris Technologies Inc (NYSE:LHX) by 37.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,352 shares of the company’s stock after acquiring an additional 1,720 shares during the period. Banque Cantonale Vaudoise’s holdings in L3Harris Technologies were worth $1,940,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. grew its stake in L3Harris Technologies by 1,053.9% during the 3rd quarter. Victory Capital Management Inc. now owns 1,181,900 shares of the company’s stock worth $360,964,000 after buying an additional 1,079,474 shares during the last quarter. Boston Partners lifted its stake in 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 buying an additional 838,546 shares during the last quarter. Balyasny Asset Management L.P. boosted its holdings in shares of L3Harris Technologies by 8,284.6% in the second quarter. Balyasny Asset Management L.P. now owns 775,322 shares of the company’s stock valued at $194,482,000 after acquiring an additional 766,075 shares during the period. Artisan Partners Limited Partnership purchased a new position in shares of L3Harris Technologies during the third quarter worth approximately $211,703,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of L3Harris Technologies by 155.7% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 618,350 shares of the company’s stock worth $155,107,000 after acquiring an additional 376,499 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on LHX. Morgan Stanley boosted their price target on L3Harris Technologies from $367.00 to $390.00 and gave the company an “overweight” rating in a research report on Monday, February 2nd. TD Cowen reissued a “buy” rating on shares of L3Harris Technologies in a report on Monday, January 5th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of L3Harris Technologies in a report on Friday, February 6th. 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. Finally, Royal Bank Of Canada boosted their price objective on shares of L3Harris Technologies from $360.00 to $365.00 and gave the company a “sector perform” rating in a research note on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $328.57.

Insider Activity

In related news, insider Jon Rambeau sold 5,528 shares of the company’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $370.32, for a total value of $2,047,128.96. Following the sale, the insider directly owned 7,660 shares of the company’s stock, valued at $2,836,651.20. This represents a 41.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Melanie Rakita sold 2,378 shares of the stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $341.45, for a total transaction of $811,968.10. Following the transaction, the vice president directly owned 4,882 shares in the company, valued at $1,666,958.90. The trade was a 32.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 19,025 shares of company stock worth $6,824,370. 0.72% of the stock is currently owned by insiders.

L3Harris Technologies Trading Up 0.8%

NYSE LHX opened at $364.47 on Thursday. The company has a market cap of $68.07 billion, a P/E ratio of 42.73, a P/E/G ratio of 2.61 and a beta of 0.63. L3Harris Technologies Inc has a 12 month low of $195.72 and a 12 month high of $379.23. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.19 and a quick ratio of 1.02. The company has a 50-day moving average of $346.76 and a 200-day moving average of $307.71.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data 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 net margin of 7.35% and a return on equity of 10.43%. The company had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.76 billion. During the same period in the previous year, the firm earned $3.47 earnings per share. L3Harris Technologies’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, equities analysts predict that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be given a $1.25 dividend. 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. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.20. L3Harris Technologies’s dividend payout ratio is currently 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.