L3Harris Technologies Inc $LHX Shares Acquired by Czech National Bank

Czech National Bank grew its holdings in L3Harris Technologies Inc (NYSE:LHX) by 3.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 49,324 shares of the company’s stock after acquiring an additional 1,805 shares during the period. Czech National Bank’s holdings in L3Harris Technologies were worth $14,480,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in LHX. Brighton Jones LLC grew its position in L3Harris Technologies by 233.9% during the 4th quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock worth $901,000 after purchasing an additional 3,001 shares during the period. CreativeOne Wealth LLC lifted its holdings in shares of L3Harris Technologies by 5.5% in the 2nd quarter. CreativeOne Wealth LLC now owns 4,121 shares of the company’s stock valued at $1,034,000 after buying an additional 213 shares during the period. Insigneo Advisory Services LLC acquired a new position in shares of L3Harris Technologies in the 2nd quarter valued at about $326,000. XTX Topco Ltd purchased a new stake in shares of L3Harris Technologies in the second quarter worth about $1,867,000. Finally, Laurel Wealth Advisors LLC boosted its stake in shares of L3Harris Technologies by 24,986.1% in the second quarter. Laurel Wealth Advisors LLC now owns 9,031 shares of the company’s stock worth $2,265,000 after buying an additional 8,995 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on LHX. Weiss Ratings upgraded L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, December 29th. 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. Citigroup lifted their target price on shares of L3Harris Technologies from $389.00 to $418.00 and gave the company a “buy” rating in a report on Thursday, February 5th. Truist Financial set a $364.00 target price on shares of L3Harris Technologies in a research note on Wednesday, January 14th. Finally, Wolfe Research reissued an “outperform” rating on shares of L3Harris Technologies in a report on Friday, January 30th. One equities research 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $328.57.

Insider Activity at L3Harris Technologies

In related news, VP Melanie Rakita sold 751 shares of the business’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 $278,110.32. Following the completion of the sale, the vice president owned 4,131 shares of the company’s stock, valued at approximately $1,529,791.92. The trade was a 15.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jon Rambeau sold 5,528 shares of the company’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $370.32, for a total transaction of $2,047,128.96. Following the transaction, the insider 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 disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 19,025 shares of company stock valued at $6,824,370. 0.72% of the stock is owned by company insiders.

L3Harris Technologies Stock Performance

NYSE LHX opened at $349.43 on Friday. The stock has a market capitalization of $65.27 billion, a price-to-earnings ratio of 40.96, a PEG ratio of 2.54 and a beta of 0.63. L3Harris Technologies Inc has a twelve month low of $195.72 and a twelve month high of $379.23. 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 stock has a 50-day moving average of $354.25 and a 200 day moving average of $313.76.

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

L3Harris Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 20th. Stockholders of record on Friday, March 6th were given a dividend of $1.25 per share. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.20. The ex-dividend date was Friday, March 6th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.4%. L3Harris Technologies’s payout ratio is 58.62%.

L3Harris Technologies Company 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.