L3Harris Technologies, Inc. (NYSE:LHX) Shares Purchased by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd grew its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 291.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,809 shares of the company’s stock after buying an additional 5,070 shares during the quarter. UniSuper Management Pty Ltd’s holdings in L3Harris Technologies were worth $1,451,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Capital World Investors grew its position in L3Harris Technologies by 26.0% during the fourth quarter. Capital World Investors now owns 16,056,272 shares of the company’s stock worth $3,381,784,000 after buying an additional 3,308,506 shares during the period. Vanguard Group Inc. grew its holdings in shares of L3Harris Technologies by 15.4% in the 4th quarter. Vanguard Group Inc. now owns 20,186,512 shares of the company’s stock worth $4,251,683,000 after acquiring an additional 2,692,771 shares during the period. Mizuho Markets Americas LLC increased its stake in L3Harris Technologies by 990.3% in the 4th quarter. Mizuho Markets Americas LLC now owns 2,204,675 shares of the company’s stock valued at $464,349,000 after purchasing an additional 2,002,475 shares in the last quarter. Norges Bank acquired a new position in L3Harris Technologies during the fourth quarter worth $325,147,000. Finally, Wellington Management Group LLP boosted its position in L3Harris Technologies by 34.7% during the fourth quarter. Wellington Management Group LLP now owns 4,416,904 shares of the company’s stock worth $930,288,000 after purchasing an additional 1,138,549 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on LHX shares. Wells Fargo & Company raised their price target on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 7th. Alembic Global Advisors upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price target for the company in a report on Monday, April 22nd. Barclays raised their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a report on Tuesday, April 30th. Royal Bank of Canada upped their target price on L3Harris Technologies from $245.00 to $250.00 and gave the company an “outperform” rating in a research note on Monday, April 29th. Finally, JPMorgan Chase & Co. raised their price target on L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $231.80.

L3Harris Technologies Stock Up 0.8 %

Shares of LHX stock traded up $1.99 during trading hours on Tuesday, hitting $240.13. 719,722 shares of the company were exchanged, compared to its average volume of 981,626. The business’s 50-day simple moving average is $225.37 and its two-hundred day simple moving average is $215.46. L3Harris Technologies, Inc. has a one year low of $160.25 and a one year high of $242.86. The stock has a market capitalization of $45.55 billion, a price-to-earnings ratio of 38.98, a P/E/G ratio of 1.95 and a beta of 0.72. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.80 and a current ratio of 0.98.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, April 25th. The company reported $3.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.89 by $0.17. The firm had revenue of $5.21 billion for the quarter, compared to analysts’ expectations of $5.11 billion. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. L3Harris Technologies’s revenue was up 16.6% on a year-over-year basis. During the same quarter last year, the company posted $2.86 earnings per share. Sell-side analysts predict that L3Harris Technologies, Inc. will post 12.99 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be given a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 1.93%. The ex-dividend date is Friday, September 6th. L3Harris Technologies’s dividend payout ratio is currently 75.32%.

Insider Buying and Selling

In other news, CEO Christopher E. Kubasik sold 26,190 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $225.70, for a total value of $5,911,083.00. Following the completion of the sale, the chief executive officer now directly owns 120,326 shares of the company’s stock, valued at approximately $27,157,578.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Christopher E. Kubasik sold 26,190 shares of the business’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $225.70, for a total value of $5,911,083.00. Following the sale, the chief executive officer now owns 120,326 shares of the company’s stock, valued at approximately $27,157,578.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christopher E. Kubasik sold 25,000 shares of the firm’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $222.45, for a total value of $5,561,250.00. Following the transaction, the chief executive officer now directly owns 120,326 shares of the company’s stock, valued at approximately $26,766,518.70. The disclosure for this sale can be found here. Insiders sold 109,312 shares of company stock valued at $24,712,822 over the last 90 days. 0.82% of the stock is currently 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.