Baader Bank Aktiengesellschaft Makes New $775,000 Investment in L3Harris Technologies Inc $LHX

Baader Bank Aktiengesellschaft acquired a new stake in L3Harris Technologies Inc (NYSE:LHX) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 2,656 shares of the company’s stock, valued at approximately $775,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of L3Harris Technologies by 0.5% in the second quarter. Vanguard Group Inc. now owns 23,170,042 shares of the company’s stock valued at $5,811,973,000 after buying an additional 121,619 shares in the last quarter. State Street Corp lifted its stake in L3Harris Technologies by 1.2% in the second quarter. State Street Corp now owns 8,874,482 shares of the company’s stock valued at $2,226,075,000 after acquiring an additional 105,402 shares during the last quarter. Geode Capital Management LLC grew its position in shares of L3Harris Technologies by 0.8% in the 2nd quarter. Geode Capital Management LLC now owns 4,948,981 shares of the company’s stock valued at $1,236,410,000 after acquiring an additional 38,820 shares during the period. Bank of New York Mellon Corp grew its position 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 acquiring an additional 1,413,833 shares during the period. Finally, Boston Partners increased its stake in shares of L3Harris Technologies by 72.1% during the 2nd quarter. Boston Partners now owns 2,002,211 shares of the company’s stock worth $504,160,000 after purchasing an additional 838,546 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, insider Samir Mehta sold 4,840 shares of the company’s stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $338.85, for a total transaction of $1,640,034.00. Following the transaction, the insider owned 5,916 shares in the company, valued at approximately $2,004,636.60. This represents a 45.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.72% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

LHX has been the topic of a number of recent analyst reports. Wall Street Zen downgraded L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. UBS Group boosted their target price on L3Harris Technologies to $323.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. TD Cowen reaffirmed a “buy” rating on shares of L3Harris Technologies in a report on Monday, January 5th. Truist Financial set a $364.00 price objective on shares of L3Harris Technologies in a report on Wednesday, January 14th. Finally, JPMorgan Chase & Co. raised their target price 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. Fifteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $328.57.

L3Harris Technologies Stock Down 1.4%

Shares of NYSE LHX opened at $340.35 on Thursday. The company has a market cap of $63.66 billion, a price-to-earnings ratio of 39.90, a PEG ratio of 2.49 and a beta of 0.64. 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 Inc has a 12 month low of $193.09 and a 12 month high of $369.59. The stock has a 50-day moving average price of $319.17 and a two-hundred day moving average price of $295.94.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, January 29th. The company reported $2.86 EPS for the quarter, beating analysts’ consensus estimates of $2.76 by $0.10. L3Harris Technologies had a return on equity of 10.43% and a net margin of 7.35%.The company had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.76 billion. During the same period in the prior year, the company earned $3.47 EPS. L3Harris Technologies’s revenue was up 2.3% compared to the same quarter last year. As a group, 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. Investors 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 yield of 1.5%. 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 presently 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.