Lbp Am Sa Grows Stock Holdings in L3Harris Technologies Inc $LHX

Key Points

• Lbp Am Sa increased its stake in L3Harris by 66.6%, buying 38,033 shares to hold 95,137 shares worth about $27.93 million (roughly 0.05% of the company), while institutional investors own about 84.76% of the stock.
• L3Harris beat Q4 EPS expectations ($2.86 vs. $2.76) though revenue slightly missed ($5.65B vs. $5.76B); the stock trades near $356, has a $66.5B market cap, and carries a consensus analyst rating of "Moderate Buy" with a $349.55 target.
• The company raised its quarterly dividend to $1.25 ($5.00 annual, ~1.4% yield), while insiders have been net sellers, offloading 19,025 shares in the past 90 days and now owning 0.68% of the stock.

Lbp Am Sa grew its holdings in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 66.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 95,137 shares of the company's stock after acquiring an additional 38,033 shares during the period. Lbp Am Sa owned about 0.05% of L3Harris Technologies worth $27,929,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Burns J W & Co. Inc. NY boosted its holdings in shares of L3Harris Technologies by 3.1% in the 4th quarter. Burns J W & Co. Inc. NY now owns 987 shares of the company's stock valued at $290,000 after acquiring an additional 30 shares during the last quarter. American National Bank & Trust boosted its holdings in shares of L3Harris Technologies by 44.8% in the 4th quarter. American National Bank & Trust now owns 97 shares of the company's stock valued at $28,000 after acquiring an additional 30 shares during the last quarter. Rainier Family Wealth Inc. boosted its holdings in shares of L3Harris Technologies by 4.8% in the 4th quarter. Rainier Family Wealth Inc. now owns 700 shares of the company's stock valued at $205,000 after acquiring an additional 32 shares during the last quarter. San Luis Wealth Advisors LLC boosted its holdings in shares of L3Harris Technologies by 5.1% in the 4th quarter. San Luis Wealth Advisors LLC now owns 705 shares of the company's stock valued at $207,000 after acquiring an additional 34 shares during the last quarter. Finally, Wealth Quarterback LLC boosted its holdings in shares of L3Harris Technologies by 1.8% in the 4th quarter. Wealth Quarterback LLC now owns 2,011 shares of the company's stock valued at $590,000 after acquiring an additional 35 shares during the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Stock Performance

LHX opened at $356.16 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.19 and a debt-to-equity ratio of 0.53. The company has a market cap of $66.53 billion, a price-to-earnings ratio of 41.75, a PEG ratio of 1.80 and a beta of 0.62. L3Harris Technologies Inc has a 52-week low of $208.11 and a 52-week high of $379.23. The firm's fifty day simple moving average is $355.32 and its two-hundred day simple moving average is $320.99.

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

L3Harris Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Friday, March 6th were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, March 6th. This is a positive change from L3Harris Technologies's previous quarterly dividend of $1.20. This represents a $5.00 annualized dividend and a yield of 1.4%. L3Harris Technologies's payout ratio is 58.62%.

Analyst Ratings Changes

LHX has been the topic of several recent research reports. TD Cowen reaffirmed a "buy" rating on shares of L3Harris Technologies in a report on Monday, January 5th. Wolfe Research reaffirmed an "outperform" rating on shares of L3Harris Technologies in a report on Friday, January 30th. Argus raised shares of L3Harris Technologies to a "strong-buy" rating in a report on Friday, February 27th. UBS Group increased their price target on shares of L3Harris Technologies to $323.00 and gave the stock a "neutral" rating in a report on Wednesday, January 14th. Finally, Sanford C. Bernstein reissued an "outperform" rating on shares of L3Harris Technologies in a report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $349.55.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Samir Mehta sold 5,528 shares of the stock in a transaction 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 transaction, the insider directly owned 7,756 shares of the company's stock, valued at $2,872,201.92. This trade represents a 41.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jon Rambeau sold 5,528 shares of the stock in a transaction 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 transaction, the insider directly owned 7,660 shares in the company, valued at approximately $2,836,651.20. The trade was a 41.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 19,025 shares of company stock valued at $6,824,370 over the last ninety days. Corporate insiders own 0.68% of the company's stock.

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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