Aberdeen Group plc Acquires 147,129 Shares of L3Harris Technologies Inc $LHX

Aberdeen Group plc boosted its holdings in L3Harris Technologies Inc (NYSE:LHX) by 493.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 176,916 shares of the company’s stock after purchasing an additional 147,129 shares during the quarter. Aberdeen Group plc owned about 0.09% of L3Harris Technologies worth $52,535,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in L3Harris Technologies by 0.5% during 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 during the last quarter. State Street Corp increased its holdings in shares of L3Harris Technologies by 1.2% during 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 in the last quarter. Geode Capital Management LLC raised 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 worth $1,236,410,000 after purchasing an additional 38,820 shares during the last quarter. Bank of New York Mellon Corp raised 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 worth $1,032,716,000 after purchasing an additional 1,413,833 shares during the last quarter. Finally, Boston Partners boosted its stake in L3Harris Technologies by 72.1% in 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 in the last quarter. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies Stock Performance

Shares of LHX opened at $345.07 on Monday. The business has a 50-day simple moving average of $321.69 and a two-hundred day simple moving average of $297.11. 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 $193.09 and a 52 week high of $369.59. The stock has a market cap of $64.45 billion, a price-to-earnings ratio of 40.45, a PEG ratio of 2.49 and a beta of 0.64.

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

L3Harris Technologies Increases Dividend

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

Insider Activity at L3Harris Technologies

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

Analyst Upgrades and Downgrades

A number of analysts have weighed in on LHX shares. Vertical Research restated a “buy” rating and set a $355.00 price objective on shares of L3Harris Technologies in a research note on Tuesday, January 13th. Sanford C. Bernstein restated an “outperform” rating on shares of L3Harris Technologies in a report on Friday, February 6th. UBS Group increased their target price on L3Harris Technologies to $323.00 and gave the company a “neutral” rating in a research note on Wednesday, January 14th. Wolfe Research reaffirmed an “outperform” rating on shares of L3Harris Technologies in a report on Friday, January 30th. Finally, Weiss Ratings raised L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, December 29th. Fifteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, L3Harris Technologies has a consensus rating of “Moderate Buy” and a consensus target price 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.