Jefferies Financial Group Inc. Takes $3.11 Million Position in L3Harris Technologies Inc $LHX

Jefferies Financial Group Inc. purchased a new stake in shares of L3Harris Technologies Inc (NYSE:LHX) during the 3rd quarter, Holdings Channel reports. The fund purchased 10,183 shares of the company’s stock, valued at approximately $3,110,000.

A number of other institutional investors have also recently bought and sold shares of LHX. First Horizon Corp acquired a new position in shares of L3Harris Technologies in the third quarter worth $10,667,000. Merit Financial Group LLC boosted its position in L3Harris Technologies by 55.9% during the third quarter. Merit Financial Group LLC now owns 9,989 shares of the company’s stock valued at $3,051,000 after purchasing an additional 3,583 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew 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 purchasing an additional 3,532 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in L3Harris Technologies by 32.6% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 21,324 shares of the company’s stock worth $6,513,000 after purchasing an additional 5,239 shares during the last quarter. Finally, Crystal Rock Capital Management purchased a new stake in shares of L3Harris Technologies during the 3rd quarter worth about $1,993,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. BNP Paribas Exane assumed coverage on L3Harris Technologies in a research note on Tuesday, November 18th. They issued a “neutral” rating and a $290.00 price target for the company. Truist Financial set a $364.00 target price on shares of L3Harris Technologies in a research note on Wednesday, January 14th. Vertical Research reissued a “buy” rating and issued a $355.00 target price on shares of L3Harris Technologies in a research report on Tuesday, January 13th. UBS Group increased their price target on shares of L3Harris Technologies to $323.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. Finally, Weiss Ratings upgraded shares of L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, December 29th. One 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 stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $328.57.

Insider Buying and Selling

In related news, insider Jon Rambeau sold 5,528 shares of the business’s stock in a transaction dated 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 directly owned 7,660 shares in the company, valued at $2,836,651.20. The trade was a 41.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Melanie Rakita sold 751 shares of the company’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 $278,110.32. Following the completion of the transaction, 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. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 19,025 shares of company stock valued at $6,824,370 over the last three months. 0.72% of the stock is owned by corporate insiders.

L3Harris Technologies Price Performance

NYSE:LHX opened at $361.51 on Wednesday. The stock has a market cap of $67.52 billion, a P/E ratio of 42.38, a PEG ratio of 2.68 and a beta of 0.63. L3Harris Technologies Inc has a one year low of $195.72 and a one year high of $379.23. The company has a fifty day moving average price of $345.35 and a 200 day moving average price of $307.31. 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 posted its quarterly earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.76 by $0.10. L3Harris Technologies had a net margin of 7.35% and a return on equity of 10.43%. The company had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.76 billion. During the same period last year, the business posted $3.47 EPS. The business’s quarterly revenue was up 2.3% on a year-over-year basis. Analysts anticipate that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be paid a $1.25 dividend. The ex-dividend date is Friday, March 6th. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.20. This represents a $5.00 annualized dividend and a dividend yield of 1.4%. L3Harris Technologies’s dividend 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.