Raiffeisen Bank International AG Acquires 3,312 Shares of L3Harris Technologies Inc $LHX

Raiffeisen Bank International AG boosted its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 1,689.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 3,508 shares of the company’s stock after purchasing an additional 3,312 shares during the period. Raiffeisen Bank International AG’s holdings in L3Harris Technologies were worth $1,042,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LHX. Twin Lakes Capital Management LLC lifted its stake in shares of L3Harris Technologies by 0.3% in the 3rd quarter. Twin Lakes Capital Management LLC now owns 14,340 shares of the company’s stock valued at $4,380,000 after purchasing an additional 38 shares during the last quarter. Fidelis Capital Partners LLC lifted its position in L3Harris Technologies by 2.2% in the second quarter. Fidelis Capital Partners LLC now owns 1,781 shares of the company’s stock worth $493,000 after buying an additional 39 shares during the last quarter. Patrick M Sweeney & Associates Inc. boosted its stake in L3Harris Technologies by 3.8% during the second quarter. Patrick M Sweeney & Associates Inc. now owns 1,095 shares of the company’s stock worth $280,000 after buying an additional 40 shares during the period. Moment Partners LLC boosted its stake in L3Harris Technologies by 1.6% during the third quarter. Moment Partners LLC now owns 2,501 shares of the company’s stock worth $764,000 after buying an additional 40 shares during the period. Finally, Deseret Mutual Benefit Administrators increased its position in L3Harris Technologies by 3.9% during the third quarter. Deseret Mutual Benefit Administrators now owns 1,085 shares of the company’s stock valued at $331,000 after acquiring an additional 41 shares during the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at L3Harris Technologies

In related news, insider Samir Mehta sold 4,840 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider directly owned 5,916 shares of the company’s stock, valued at $2,004,636.60. This represents a 45.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.72% of the stock is owned by insiders.

L3Harris Technologies Stock Performance

L3Harris Technologies stock opened at $355.84 on Monday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.19. The company has a market capitalization of $66.46 billion, a PE ratio of 41.72, a P/E/G ratio of 2.57 and a beta of 0.64. The company has a 50 day moving average price of $328.43 and a 200-day moving average price of $299.73. L3Harris Technologies Inc has a fifty-two week low of $195.72 and a fifty-two week high of $369.59.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 10.43% and a net margin of 7.35%.L3Harris Technologies’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.47 earnings per share. As a group, equities analysts forecast 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. Stockholders of record on Friday, March 6th will be paid a dividend of $1.25 per share. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.20. This represents a $5.00 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, March 6th. L3Harris Technologies’s payout ratio is 56.27%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on LHX shares. Citigroup raised 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. Weiss Ratings raised shares of L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, December 29th. Morgan Stanley boosted their target price on L3Harris Technologies from $367.00 to $390.00 and gave the company an “overweight” rating in a research report on Monday, February 2nd. UBS Group increased their price target on L3Harris Technologies to $323.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. Finally, Susquehanna restated a “positive” rating on shares of L3Harris Technologies in a report on Thursday, January 15th. Fifteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus 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.