Bank of Montreal Can Purchases 19,626 Shares of L3Harris Technologies Inc $LHX

Key Points

• Bank of Montreal Can increased its stake in L3Harris by 9% in Q3, buying 19,626 shares and now owns 238,226 shares valued at about $72.76 million (≈0.13% of the company).
• Company insiders have been net sellers — 19,025 shares worth $6.82 million were sold in the last 90 days, including Samir Mehta (5,528 shares) and VP Melanie Rakita (751 shares), leaving insiders with 0.72% ownership.
• L3Harris raised its quarterly dividend to $1.25 (from $1.20), an annualized $5.00 with a 1.4% yield; the ex-dividend date is March 6 and the payment date is March 20.

Bank of Montreal Can increased its position in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 9.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 238,226 shares of the company's stock after purchasing an additional 19,626 shares during the quarter. Bank of Montreal Can owned approximately 0.13% of L3Harris Technologies worth $72,757,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of LHX. Caitlin John LLC bought a new position in shares of L3Harris Technologies during the 3rd quarter worth approximately $28,000. GGM Financials LLC acquired a new position in shares of L3Harris Technologies during the 3rd quarter worth approximately $32,000. Twin Peaks Wealth Advisors LLC bought a new stake in L3Harris Technologies in the 2nd quarter valued at $34,000. Salomon & Ludwin LLC bought a new stake in L3Harris Technologies in the 3rd quarter valued at $34,000. Finally, Rakuten Securities Inc. lifted its holdings in L3Harris Technologies by 234.8% during the 2nd quarter. Rakuten Securities Inc. now owns 154 shares of the company's stock valued at $39,000 after purchasing an additional 108 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at L3Harris Technologies

In related news, insider Samir Mehta sold 5,528 shares of the business's stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $370.32, for a total value of $2,047,128.96. Following the completion of the sale, the insider directly owned 7,756 shares in the company, valued at approximately $2,872,201.92. The trade was a 41.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Melanie Rakita sold 751 shares of the firm's stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $370.32, for a total value of $278,110.32. Following the transaction, the vice president owned 4,131 shares in the company, 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. Over the last ninety days, insiders sold 19,025 shares of company stock worth $6,824,370. Company insiders own 0.72% of the company's stock.

L3Harris Technologies Trading Up 0.8%

Shares of L3Harris Technologies stock opened at $364.47 on Thursday. The firm has a 50-day moving average of $346.76 and a 200-day moving average of $307.71. The stock has a market cap of $68.07 billion, a PE ratio of 42.73, a PEG ratio of 2.61 and a beta of 0.63. L3Harris Technologies Inc has a 52-week low of $195.72 and a 52-week high of $379.23. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.19.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly earnings results on Thursday, January 29th. The company reported $2.86 EPS for the quarter, topping analysts' consensus estimates of $2.76 by $0.10. The business had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.76 billion. L3Harris Technologies had a net margin of 7.35% and a return on equity of 10.43%. L3Harris Technologies's revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period last year, the firm earned $3.47 earnings per share. As a group, sell-side analysts forecast that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be given 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 dividend on an annualized basis and a dividend yield of 1.4%. L3Harris Technologies's dividend payout ratio (DPR) is presently 58.62%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on LHX shares. UBS Group upped their price objective on shares of L3Harris Technologies to $323.00 and gave the company a "neutral" rating in a report on Wednesday, January 14th. JPMorgan Chase & Co. raised their target price on shares of L3Harris Technologies from $340.00 to $395.00 and gave the stock an "overweight" rating in a research note on Thursday, February 5th. TD Cowen reiterated a "buy" rating on shares of L3Harris Technologies in a research note on Monday, January 5th. Sanford C. Bernstein reissued an "outperform" rating on shares of L3Harris Technologies in a report on Friday, February 6th. Finally, Wolfe Research restated an "outperform" rating on shares of L3Harris Technologies in a research report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, L3Harris Technologies has an average rating of "Moderate Buy" and an average target price of $328.57.

About L3Harris Technologies

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.

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