Jupiter Asset Management Ltd. Has $4.25 Million Stock Holdings in L3Harris Technologies Inc $LHX

Jupiter Asset Management Ltd. lifted its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 12.5% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,907 shares of the company’s stock after buying an additional 1,542 shares during the period. Jupiter Asset Management Ltd.’s holdings in L3Harris Technologies were worth $4,247,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Bank of New York Mellon Corp raised its stake in L3Harris Technologies by 52.3% during the second quarter. Bank of New York Mellon Corp now owns 4,117,030 shares of the company’s stock worth $1,032,716,000 after acquiring an additional 1,413,833 shares in the last quarter. AGF Management Ltd. acquired a new position in L3Harris Technologies during the 2nd quarter worth approximately $324,940,000. Boston Partners lifted 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 valued at $504,160,000 after purchasing an additional 838,546 shares during the last quarter. Balyasny Asset Management L.P. lifted its stake in L3Harris Technologies by 8,284.6% in the 2nd quarter. Balyasny Asset Management L.P. now owns 775,322 shares of the company’s stock valued at $194,482,000 after purchasing an additional 766,075 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of L3Harris Technologies by 155.7% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 618,350 shares of the company’s stock worth $155,107,000 after buying an additional 376,499 shares during the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on LHX shares. BNP Paribas Exane raised L3Harris Technologies to a “hold” rating in a report on Tuesday, November 18th. Morgan Stanley lifted their price target on L3Harris Technologies from $367.00 to $390.00 and gave the company an “overweight” rating in a research note on Monday, February 2nd. Sanford C. Bernstein restated an “outperform” rating on shares of L3Harris Technologies in a report on Friday, February 6th. Citigroup raised their price objective 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. Finally, TD Cowen reissued a “buy” rating on shares of L3Harris Technologies in a report on Monday, January 5th. Fifteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $328.57.

L3Harris Technologies Price Performance

L3Harris Technologies stock opened at $355.84 on Friday. The stock’s 50 day moving average is $328.43 and its 200 day moving average is $299.57. L3Harris Technologies Inc has a one year low of $195.72 and a one year high of $369.59. The firm has a market cap of $66.46 billion, a P/E ratio of 41.72, a P/E/G ratio of 2.57 and a beta of 0.64. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.19 and a quick ratio of 1.02.

L3Harris Technologies (NYSE:LHX) last released its earnings results 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 business had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.76 billion. L3Harris Technologies had a net margin of 7.35% and a return on equity of 10.43%. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.47 EPS. As a group, research analysts expect that L3Harris Technologies Inc will post 11.12 EPS for the current 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 issued a $1.25 dividend. The ex-dividend date is Friday, March 6th. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.20. This represents a $5.00 annualized dividend and a yield of 1.4%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 56.27%.

Insider Buying and Selling

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

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.