2,656 Shares in L3Harris Technologies Inc $LHX Purchased by Baader Bank Aktiengesellschaft

Baader Bank Aktiengesellschaft purchased a new stake in shares of L3Harris Technologies Inc (NYSE:LHX) in the third quarter, according to its most recent 13F filing with the SEC. The fund purchased 2,656 shares of the company’s stock, valued at approximately $775,000.

A number of other institutional investors and hedge funds have also bought and sold shares of LHX. Kiker Wealth Management LLC boosted its holdings in shares of L3Harris Technologies by 137.0% in the 2nd quarter. Kiker Wealth Management LLC now owns 109 shares of the company’s stock worth $27,000 after purchasing an additional 63 shares in the last quarter. Harbor Asset Planning Inc. purchased a new stake in shares of L3Harris Technologies during the second quarter worth about $32,000. Twin Peaks Wealth Advisors LLC purchased a new stake in L3Harris Technologies in the second quarter worth $34,000. Salomon & Ludwin LLC bought a new stake in shares of L3Harris Technologies during the 3rd quarter valued at about $34,000. Finally, Rakuten Securities Inc. lifted its holdings in L3Harris Technologies by 234.8% in the second quarter. Rakuten Securities Inc. now owns 154 shares of the company’s stock worth $39,000 after buying an additional 108 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Trading Down 1.4%

Shares of LHX stock opened at $340.35 on Thursday. The company has a current ratio of 1.19, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. L3Harris Technologies Inc has a 12-month low of $193.09 and a 12-month high of $369.59. The stock has a market capitalization of $63.66 billion, a P/E ratio of 39.90, a P/E/G ratio of 2.49 and a beta of 0.64. The firm’s 50 day moving average is $319.17 and its 200 day moving average is $295.94.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, beating the consensus estimate of $2.76 by $0.10. L3Harris Technologies had a return on equity of 10.43% and a net margin of 7.35%.The firm had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.76 billion. During the same period in the prior year, the firm earned $3.47 EPS. The company’s revenue was up 2.3% compared to the same quarter last year. Research analysts expect that L3Harris Technologies Inc will post 11.12 earnings per share 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 dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, March 6th. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.20. L3Harris Technologies’s payout ratio is currently 58.62%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Sanford C. Bernstein restated an “outperform” rating on shares of L3Harris Technologies in a report on Friday, February 6th. Citigroup lifted their target price on shares of L3Harris Technologies from $389.00 to $418.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. Royal Bank Of Canada increased their price target on shares of L3Harris Technologies from $360.00 to $365.00 and gave the company a “sector perform” rating in a report on Friday, January 30th. BNP Paribas Exane raised shares of L3Harris Technologies to a “hold” rating in a research report on Tuesday, November 18th. Finally, Morgan Stanley upped their price objective on L3Harris Technologies from $367.00 to $390.00 and gave the company an “overweight” rating in a research report on Monday, February 2nd. Fifteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $328.57.

Insider Buying and Selling at L3Harris Technologies

In related news, insider Samir Mehta sold 4,840 shares of the firm’s stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $338.85, for a total value of $1,640,034.00. Following the transaction, the insider owned 5,916 shares of the company’s stock, valued at approximately $2,004,636.60. This trade represents a 45.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.72% of the stock is owned by company insiders.

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.