L3Harris Technologies Inc (NYSE:LHX) Shares Bought by National Bank of Canada FI

Key Points

• National Bank of Canada FI increased its holdings in L3Harris Technologies by 58.1%, acquiring 53,488 additional shares in the first quarter, bringing its total ownership to 145,473 shares valued at $30.4 million.
• Analysts remain bullish on L3Harris Technologies, with firms like Barclays and Citigroup raising their price targets significantly, reflecting a consensus of strong market performance.
• The company recently announced a quarterly dividend of $1.20 per share, which equates to an annualized dividend yield of 1.8%, with the payout ratio standing at 53.63% as of the latest filing.

National Bank of Canada FI raised its holdings in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 58.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 145,473 shares of the company's stock after acquiring an additional 53,488 shares during the quarter. National Bank of Canada FI owned 0.08% of L3Harris Technologies worth $30,449,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Oppenheimer Asset Management Inc. raised its holdings in L3Harris Technologies by 5.1% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 4,425 shares of the company's stock worth $926,000 after buying an additional 216 shares during the period. BankPlus Wealth Management LLC raised its holdings in L3Harris Technologies by 6.0% during the 1st quarter. BankPlus Wealth Management LLC now owns 2,061 shares of the company's stock worth $432,000 after buying an additional 117 shares during the period. D. E. Shaw & Co. Inc. raised its holdings in L3Harris Technologies by 21.2% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 7,077 shares of the company's stock worth $1,488,000 after buying an additional 1,236 shares during the period. Brighton Jones LLC raised its holdings in L3Harris Technologies by 233.9% during the 4th quarter. Brighton Jones LLC now owns 4,284 shares of the company's stock worth $901,000 after buying an additional 3,001 shares during the period. Finally, Capital Analysts LLC raised its holdings in L3Harris Technologies by 4.2% during the 4th quarter. Capital Analysts LLC now owns 44,510 shares of the company's stock worth $9,360,000 after buying an additional 1,808 shares during the period. 84.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LHX has been the topic of several recent analyst reports. Barclays boosted their price objective on L3Harris Technologies from $255.00 to $305.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Susquehanna lifted their target price on L3Harris Technologies from $300.00 to $320.00 and gave the company a "positive" rating in a research note on Friday, July 25th. Royal Bank Of Canada lifted their target price on L3Harris Technologies from $265.00 to $280.00 and gave the company a "sector perform" rating in a research note on Friday, July 25th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of L3Harris Technologies in a research note on Monday, July 14th. Finally, Citigroup lifted their target price on L3Harris Technologies from $300.00 to $323.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $279.47.

L3Harris Technologies Stock Down 1.5%

Shares of L3Harris Technologies stock opened at $269.69 on Friday. The firm has a market cap of $50.46 billion, a price-to-earnings ratio of 30.13, a P/E/G ratio of 1.97 and a beta of 0.77. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 0.87. L3Harris Technologies Inc has a 52-week low of $193.09 and a 52-week high of $280.52. The stock has a 50-day simple moving average of $258.25 and a 200-day simple moving average of $229.85.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The company reported $2.78 earnings per share for the quarter, beating analysts' consensus estimates of $2.48 by $0.30. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%. The business had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.31 billion. During the same period last year, the business earned $3.24 EPS. The firm's revenue was up 2.4% compared to the same quarter last year. On average, equities research analysts expect that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 22nd. Investors of record on Friday, September 5th will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, September 5th. L3Harris Technologies's dividend payout ratio (DPR) is presently 53.63%.

Insider Buying and Selling

In related news, insider Edward J. Zoiss sold 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $245.00, for a total value of $490,000.00. Following the transaction, the insider directly owned 25,325 shares of the company's stock, valued at approximately $6,204,625. This trade represents a 7.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher E. Kubasik sold 72,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $271.14, for a total value of $19,522,080.00. Following the completion of the transaction, the chief executive officer directly owned 145,578 shares in the company, valued at $39,472,018.92. The trade was a 33.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 107,061 shares of company stock worth $28,227,077 over the last three months. 0.72% of the stock is owned by company insiders.

L3Harris Technologies Profile

L3Harris Technologies, Inc provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides intelligence, surveillance, and reconnaissance (ISR) systems, passive sensing and targeting, electronic attack, autonomy, power and communications, and networks and sensors, as well as advanced combat systems for air, land, and sea sectors.

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