L3Harris Technologies Inc $LHX Shares Bought by Czech National Bank

Czech National Bank boosted its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 3.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 49,324 shares of the company’s stock after buying an additional 1,805 shares during the period. Czech National Bank’s holdings in L3Harris Technologies were worth $14,480,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Victory Capital Management Inc. boosted its stake in shares of L3Harris Technologies by 1,053.9% in the third quarter. Victory Capital Management Inc. now owns 1,181,900 shares of the company’s stock worth $360,964,000 after acquiring an additional 1,079,474 shares during the last quarter. Balyasny Asset Management L.P. increased its position in shares of L3Harris Technologies by 8,284.6% during the second quarter. Balyasny Asset Management L.P. now owns 775,322 shares of the company’s stock worth $194,482,000 after purchasing an additional 766,075 shares in the last quarter. Artisan Partners Limited Partnership acquired a new position in L3Harris Technologies in the 3rd quarter valued at $211,703,000. Two Sigma Investments LP lifted its holdings in L3Harris Technologies by 560.7% in the 3rd quarter. Two Sigma Investments LP now owns 614,287 shares of the company’s stock valued at $187,609,000 after purchasing an additional 521,312 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in L3Harris Technologies by 155.7% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 618,350 shares of the company’s stock valued at $155,107,000 after purchasing an additional 376,499 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

LHX has been the subject of a number of research reports. Vertical Research reaffirmed a “buy” rating and set a $355.00 target price on shares of L3Harris Technologies in a report on Tuesday, January 13th. Citigroup raised their price target on shares of L3Harris Technologies from $389.00 to $418.00 and gave the stock a “buy” rating in a research note on Thursday, February 5th. Wolfe Research restated an “outperform” rating on shares of L3Harris Technologies in a research report on Friday, January 30th. Susquehanna reaffirmed a “positive” rating on shares of L3Harris Technologies in a research note on Thursday, January 15th. Finally, UBS Group increased their price objective on shares of L3Harris Technologies to $323.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $328.57.

Insiders Place Their Bets

In other news, VP Melanie Rakita sold 2,378 shares of the stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $341.45, for a total value of $811,968.10. Following the completion of the sale, the vice president 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Jon Rambeau sold 5,528 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $370.32, for a total transaction of $2,047,128.96. Following the sale, the insider owned 7,660 shares of the company’s stock, valued at $2,836,651.20. This represents a 41.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 19,025 shares of company stock valued at $6,824,370 over the last ninety days. Company insiders own 0.72% of the company’s stock.

L3Harris Technologies Stock Performance

NYSE LHX opened at $349.43 on Friday. 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 stock’s fifty day moving average is $354.25 and its two-hundred day moving average is $313.76. The firm has a market capitalization of $65.27 billion, a P/E ratio of 40.96, a price-to-earnings-growth ratio of 2.54 and a beta of 0.63. L3Harris Technologies Inc has a fifty-two week low of $195.72 and a fifty-two week high of $379.23.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.76 by $0.10. L3Harris Technologies had a return on equity of 10.43% and a net margin of 7.35%.The business had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.76 billion. During the same period last year, the company earned $3.47 EPS. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, research 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 disclosed a quarterly dividend, which was paid on Friday, March 20th. Investors of record on Friday, March 6th were given a dividend of $1.25 per share. The ex-dividend date was Friday, March 6th. This is an increase 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 dividend payout ratio (DPR) is 58.62%.

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.