Legal & General Group Plc Purchases 90,509 Shares of L3Harris Technologies Inc $LHX

Legal & General Group Plc raised its position in L3Harris Technologies Inc (NYSE:LHX) by 8.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,112,548 shares of the company’s stock after acquiring an additional 90,509 shares during the period. Legal & General Group Plc’s holdings in L3Harris Technologies were worth $339,783,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Caitlin John LLC acquired a new position in shares of L3Harris Technologies during the third quarter worth $28,000. GGM Financials LLC acquired a new stake in shares of L3Harris Technologies in the 3rd quarter worth $32,000. Twin Peaks Wealth Advisors LLC purchased a new position in L3Harris Technologies during the 2nd quarter worth $34,000. Salomon & Ludwin LLC purchased a new position in L3Harris Technologies during the 3rd quarter worth $34,000. Finally, Rakuten Securities Inc. increased its position in L3Harris Technologies by 234.8% during the 2nd quarter. Rakuten Securities Inc. now owns 154 shares of the company’s stock valued at $39,000 after buying an additional 108 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on LHX. Argus upgraded L3Harris Technologies to a “strong-buy” rating in a research note on Friday, February 27th. Morgan Stanley upped their price objective on shares of L3Harris Technologies from $367.00 to $390.00 and gave the company an “overweight” rating in a report on Monday, February 2nd. Citigroup increased their price objective on shares of L3Harris Technologies from $389.00 to $418.00 and gave the company a “buy” rating in a research report on Thursday, February 5th. Vertical Research reiterated a “buy” rating and issued a $355.00 target price on shares of L3Harris Technologies in a research note on Tuesday, January 13th. Finally, Royal Bank Of Canada boosted their target price on shares of L3Harris Technologies from $360.00 to $365.00 and gave the stock a “sector perform” rating in a research report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $328.57.

L3Harris Technologies Stock Performance

Shares of LHX opened at $364.47 on Thursday. 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 has a 50-day moving average of $346.76 and a two-hundred day moving average of $307.71. The stock has a market cap of $68.07 billion, a P/E ratio of 42.73, a P/E/G ratio of 2.61 and a beta of 0.63. L3Harris Technologies Inc has a one year low of $195.72 and a one year high of $379.23.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $5.76 billion. During the same period in the prior year, the company earned $3.47 earnings per share. The company’s revenue was up 2.3% on a year-over-year basis. As a group, research analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be issued a $1.25 dividend. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.20. The ex-dividend date is Friday, March 6th. This represents a $5.00 annualized dividend and a yield of 1.4%. L3Harris Technologies’s dividend payout ratio is currently 58.62%.

Insiders Place Their Bets

In other news, insider Jon Rambeau sold 5,528 shares of the company’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $370.32, for a total value of $2,047,128.96. Following the sale, the insider directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Samir Mehta sold 5,528 shares of the firm’s stock in a transaction 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 transaction, the insider directly owned 7,756 shares of the company’s stock, valued at approximately $2,872,201.92. This trade represents a 41.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 19,025 shares of company stock valued at $6,824,370. 0.72% of the stock is owned by insiders.

L3Harris Technologies Company 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.