268,567 Shares in L3Harris Technologies Inc $LHX Purchased by Mondrian Investment Partners LTD

Mondrian Investment Partners LTD purchased a new stake in L3Harris Technologies Inc (NYSE:LHX) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 268,567 shares of the company’s stock, valued at approximately $82,023,000. Mondrian Investment Partners LTD owned approximately 0.14% of L3Harris Technologies as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. First Horizon Corp bought a new position in shares of L3Harris Technologies in the 3rd quarter worth $10,667,000. Oregon Public Employees Retirement Fund lifted its stake in L3Harris Technologies by 32.6% in the third quarter. Oregon Public Employees Retirement Fund now owns 21,324 shares of the company’s stock valued at $6,513,000 after buying an additional 5,239 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in L3Harris Technologies by 13.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,223 shares of the company’s stock valued at $9,230,000 after buying an additional 3,532 shares during the period. Focused Investors LLC boosted its holdings in L3Harris Technologies by 4.2% during the third quarter. Focused Investors LLC now owns 448,450 shares of the company’s stock worth $136,961,000 after buying an additional 18,200 shares during the last quarter. Finally, Crystal Rock Capital Management acquired a new position in shares of L3Harris Technologies during the 3rd quarter worth about $1,993,000. 84.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on LHX. UBS Group increased their price target on shares of L3Harris Technologies to $323.00 and gave the company a “neutral” rating in a research report on Wednesday, January 14th. Vertical Research reiterated a “buy” rating and issued a $355.00 target price on shares of L3Harris Technologies in a report on Tuesday, January 13th. Truist Financial set a $364.00 price target on shares of L3Harris Technologies in a report on Wednesday, January 14th. Susquehanna restated a “positive” rating on shares of L3Harris Technologies in a research report on Thursday, January 15th. Finally, Wall Street Zen lowered L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Fifteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $328.57.

Insider Buying and Selling

In other news, insider Samir Mehta sold 4,840 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 5,916 shares of the company’s stock, valued at $2,004,636.60. This trade represents a 45.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.72% of the company’s stock.

L3Harris Technologies Trading Up 1.5%

Shares of NYSE:LHX opened at $345.07 on Tuesday. The firm 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 Inc has a 12 month low of $193.09 and a 12 month high of $369.59. The company’s fifty day simple moving average is $322.96 and its 200 day simple moving average is $297.60. 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 (NYSE:LHX) last announced its earnings results on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, topping analysts’ consensus estimates of $2.76 by $0.10. L3Harris Technologies had a net margin of 7.35% and a return on equity of 10.43%. The firm had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.76 billion. During the same period in the prior year, the business earned $3.47 EPS. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, research analysts forecast that L3Harris Technologies Inc will post 11.12 EPS 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. The ex-dividend date of this dividend is Friday, March 6th. This represents a $5.00 dividend on an annualized basis and a yield of 1.4%. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.20. L3Harris Technologies’s payout ratio is 56.27%.

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.