Capital International Inc. CA Purchases 25,385 Shares of L3Harris Technologies Inc $LHX

Key Points

• Capital International Inc. CA increased its stake in L3Harris by 27.3%, buying 25,385 shares to hold 118,315 shares valued at about $36.14 million (≈0.06% ownership).
• L3Harris beat EPS estimates ($2.86 vs. $2.76) but slightly missed revenue expectations ($5.65B vs. $5.76B), and raised its quarterly dividend to $1.25 ($5.00 annualized, 1.3% yield; ex-dividend March 6).
• Insiders sold a total of 19,025 shares (~$6.82M) in the past 90 days, while analysts maintain a consensus rating of Moderate Buy with an average price target of $328.57.

Capital International Inc. CA increased its holdings in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 27.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 118,315 shares of the company's stock after purchasing an additional 25,385 shares during the period. Capital International Inc. CA owned 0.06% of L3Harris Technologies worth $36,135,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Caitlin John LLC acquired a new position in shares of L3Harris Technologies during the third quarter valued at about $28,000. GGM Financials LLC acquired a new position in L3Harris Technologies during the third quarter valued at $32,000. Salomon & Ludwin LLC purchased a new position in shares of L3Harris Technologies during the 3rd quarter valued at about $34,000. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of L3Harris Technologies in the second quarter worth about $34,000. Finally, Copia Wealth Management grew its holdings in L3Harris Technologies by 1,842.9% during the third quarter. Copia Wealth Management now owns 136 shares of the company's stock worth $42,000 after acquiring an additional 129 shares during the period. Institutional investors own 84.76% of the company's stock.

L3Harris Technologies Stock Performance

NYSE LHX opened at $370.90 on Tuesday. The stock has a fifty day simple moving average of $344.02 and a 200-day simple moving average of $306.71. The company has a current ratio of 1.19, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. The stock has a market cap of $69.28 billion, a PE ratio of 43.48, a P/E/G ratio of 2.64 and a beta of 0.63. L3Harris Technologies Inc has a twelve month low of $195.72 and a twelve month high of $379.23.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its earnings results on Thursday, January 29th. The company reported $2.86 EPS for the quarter, beating analysts' consensus estimates of $2.76 by $0.10. The company had revenue of $5.65 billion for the quarter, compared to analysts' expectations 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 quarter in the prior year, the company posted $3.47 earnings per share. Equities analysts anticipate that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

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

Insider Transactions at L3Harris Technologies

In related news, VP Melanie Rakita sold 2,378 shares of the company's stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $341.45, for a total transaction of $811,968.10. Following the sale, the vice president directly owned 4,882 shares of the company's stock, valued at $1,666,958.90. This represents a 32.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Samir Mehta sold 5,528 shares of the stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $370.32, for a total transaction 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. This represents a 41.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 19,025 shares of company stock worth $6,824,370 over the last ninety days. Company insiders own 0.72% of the company's stock.

Analyst Ratings Changes

LHX has been the subject of several recent research reports. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of L3Harris Technologies in a report on Friday, February 6th. Royal Bank Of Canada boosted their target price on L3Harris Technologies from $360.00 to $365.00 and gave the stock a "sector perform" rating in a report on Friday, January 30th. Weiss Ratings upgraded L3Harris Technologies from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, December 29th. Morgan Stanley raised their target price on L3Harris Technologies from $367.00 to $390.00 and gave the stock an "overweight" rating in a research note on Monday, February 2nd. Finally, Wolfe Research reissued an "outperform" rating on shares of L3Harris Technologies in a report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $328.57.

L3Harris Technologies 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.

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