Capital International Sarl Acquires 3,620 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Capital International Sarl boosted its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 22.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,639 shares of the company’s stock after buying an additional 3,620 shares during the quarter. Capital International Sarl’s holdings in L3Harris Technologies were worth $4,185,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in LHX. Bfsg LLC bought a new stake in L3Harris Technologies during the first quarter valued at approximately $25,000. Transcendent Capital Group LLC bought a new position in shares of L3Harris Technologies in the fourth quarter worth approximately $28,000. Blue Trust Inc. boosted its position in shares of L3Harris Technologies by 178.7% in the fourth quarter. Blue Trust Inc. now owns 170 shares of the company’s stock worth $36,000 after purchasing an additional 109 shares during the period. EntryPoint Capital LLC boosted its position in shares of L3Harris Technologies by 70.4% in the first quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock worth $36,000 after purchasing an additional 69 shares during the period. Finally, Washington Trust Advisors Inc. boosted its position in shares of L3Harris Technologies by 80.6% in the fourth quarter. Washington Trust Advisors Inc. now owns 177 shares of the company’s stock worth $37,000 after purchasing an additional 79 shares during the period. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Price Performance

L3Harris Technologies stock traded down $13.86 during mid-day trading on Friday, reaching $229.41. 2,215,825 shares of the company’s stock traded hands, compared to its average volume of 995,252. The company has a market cap of $43.51 billion, a price-to-earnings ratio of 37.24, a PEG ratio of 1.97 and a beta of 0.72. The stock has a 50 day moving average of $226.21 and a two-hundred day moving average of $215.96. The company has a quick ratio of 0.80, a current ratio of 0.98 and a debt-to-equity ratio of 0.59. L3Harris Technologies, Inc. has a 12-month low of $160.25 and a 12-month high of $245.60.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, July 25th. The company reported $3.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.18 by $0.06. The company had revenue of $5.30 billion for the quarter, compared to the consensus estimate of $5.30 billion. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. L3Harris Technologies’s revenue was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.97 earnings per share. Equities analysts forecast that L3Harris Technologies, Inc. will post 12.99 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be paid a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend is Friday, September 6th. L3Harris Technologies’s payout ratio is currently 75.32%.

Analyst Upgrades and Downgrades

LHX has been the subject of a number of recent analyst reports. Alembic Global Advisors upgraded shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price target for the company in a research report on Monday, April 22nd. Barclays upped their price target on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 30th. JPMorgan Chase & Co. upped their price target on shares of L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft lowered shares of L3Harris Technologies from a “buy” rating to a “hold” rating and upped their price target for the stock from $245.00 to $257.00 in a research report on Friday. Finally, Wells Fargo & Company upped their target price on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 7th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, L3Harris Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $232.93.

Insider Buying and Selling at L3Harris Technologies

In other news, VP Sean J. Stackley sold 3,354 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $216.73, for a total value of $726,912.42. Following the sale, the vice president now directly owns 14,186 shares in the company, valued at $3,074,531.78. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Christopher E. Kubasik sold 26,190 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $225.70, for a total transaction of $5,911,083.00. Following the completion of the sale, the chief executive officer now directly owns 120,326 shares of the company’s stock, valued at approximately $27,157,578.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Sean J. Stackley sold 3,354 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $216.73, for a total value of $726,912.42. Following the sale, the vice president now directly owns 14,186 shares of the company’s stock, valued at $3,074,531.78. The disclosure for this sale can be found here. Insiders sold 109,312 shares of company stock worth $24,712,822 over the last 90 days. Company insiders own 0.82% of the company’s stock.

L3Harris Technologies Company Profile

L3Harris Technologies, Inc provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides intelligence, surveillance, and reconnaissance (ISR) systems, passive sensing and targeting, electronic attack, autonomy, power and communications, and networks and sensors, as well as advanced combat systems for air, land, and sea sectors.