Vinva Investment Management Ltd Buys 1,936 Shares of L3Harris Technologies Inc $LHX

Vinva Investment Management Ltd lifted its position in L3Harris Technologies Inc (NYSE:LHX) by 177.6% during the 3rd quarter, Holdings Channel reports. The firm owned 3,026 shares of the company’s stock after acquiring an additional 1,936 shares during the period. Vinva Investment Management Ltd’s holdings in L3Harris Technologies were worth $899,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew its holdings in L3Harris Technologies by 1,053.9% in the 3rd quarter. Victory Capital Management Inc. now owns 1,181,900 shares of the company’s stock worth $360,964,000 after acquiring an additional 1,079,474 shares during the last quarter. Boston Partners increased its holdings in L3Harris Technologies by 72.1% during 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 period. Balyasny Asset Management L.P. raised its position in L3Harris Technologies by 8,284.6% during 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. Artisan Partners Limited Partnership purchased a new stake in L3Harris Technologies in the 3rd quarter worth approximately $211,703,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of L3Harris Technologies by 155.7% in the 2nd 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 currently owned by institutional investors.

Analyst Upgrades and Downgrades

LHX has been the subject of a number of research analyst reports. UBS Group raised their price target on L3Harris Technologies to $323.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. Argus raised shares of L3Harris Technologies to a “strong-buy” rating in a research report on Friday, February 27th. Wolfe Research reiterated an “outperform” rating on shares of L3Harris Technologies in a research report on Friday, January 30th. Weiss Ratings raised shares of L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, December 29th. Finally, BNP Paribas Exane upgraded shares of L3Harris Technologies to a “hold” rating in a report on Tuesday, November 18th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, L3Harris Technologies presently has an average rating of “Moderate Buy” and an average target price of $328.57.

L3Harris Technologies Stock Up 1.2%

LHX stock opened at $370.90 on Tuesday. The stock has a market capitalization of $69.28 billion, a P/E ratio of 43.48, a P/E/G ratio of 2.64 and a beta of 0.63. 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 Inc has a 1-year low of $195.72 and a 1-year high of $379.23. The business has a fifty day moving average price of $344.02 and a 200-day moving average price of $306.71.

L3Harris Technologies (NYSE:LHX) last released 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. L3Harris Technologies had a return on equity of 10.43% and a net margin of 7.35%.The company had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.76 billion. During the same period last year, the firm posted $3.47 earnings per share. L3Harris Technologies’s revenue was up 2.3% compared to the same quarter last year. Equities analysts forecast that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, March 6th. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.20. L3Harris Technologies’s payout ratio is 58.62%.

Insider Transactions at L3Harris Technologies

In related news, insider Jon Rambeau sold 5,528 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $370.32, for a total value of $2,047,128.96. Following the sale, the insider owned 7,660 shares in the company, valued at approximately $2,836,651.20. This trade represents a 41.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Melanie Rakita sold 751 shares of L3Harris Technologies stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $370.32, for a total transaction of $278,110.32. Following the completion of the sale, the vice president directly owned 4,131 shares of the company’s stock, valued at approximately $1,529,791.92. This trade represents a 15.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 19,025 shares of company stock worth $6,824,370 over the last three months. 0.72% of the stock is currently owned by company insiders.

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.