L3Harris Technologies Inc $LHX Shares Purchased by Martingale Asset Management L P

Martingale Asset Management L P lifted its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 283.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 53,832 shares of the company’s stock after buying an additional 39,788 shares during the period. Martingale Asset Management L P’s holdings in L3Harris Technologies were worth $16,441,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Caitlin John LLC purchased a new stake in shares of L3Harris Technologies during the 3rd quarter worth $28,000. GGM Financials LLC purchased a new position in shares of L3Harris Technologies in the third quarter valued at approximately $32,000. Salomon & Ludwin LLC purchased a new position in L3Harris Technologies in the 3rd quarter worth approximately $34,000. Twin Peaks Wealth Advisors LLC bought a new stake in L3Harris Technologies during the 2nd quarter valued at approximately $34,000. Finally, Copia Wealth Management lifted its stake in L3Harris Technologies by 1,842.9% in the 3rd quarter. Copia Wealth Management now owns 136 shares of the company’s stock valued at $42,000 after purchasing an additional 129 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

LHX has been the subject of a number of research reports. Sanford C. Bernstein reissued an “outperform” rating on shares of L3Harris Technologies in a research note on Friday, February 6th. Wall Street Zen downgraded L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. JPMorgan Chase & Co. lifted their price objective on L3Harris Technologies from $340.00 to $395.00 and gave the stock an “overweight” rating in a report on Thursday, February 5th. Argus upgraded shares of L3Harris Technologies to a “strong-buy” rating in a report on Friday, February 27th. Finally, TD Cowen restated a “buy” rating on shares of L3Harris Technologies in a report on Monday, January 5th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $328.57.

L3Harris Technologies Price Performance

LHX opened at $357.15 on Friday. The company has a current ratio of 1.19, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. The company has a fifty day simple moving average of $348.03 and a 200 day simple moving average of $308.06. The firm has a market cap of $66.71 billion, a price-to-earnings ratio of 41.87, a PEG ratio of 2.63 and a beta of 0.63. L3Harris Technologies Inc has a twelve month low of $195.72 and a twelve month high of $379.23.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, January 29th. The company reported $2.86 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 company had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.76 billion. During the same period in the previous year, the business posted $3.47 EPS. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. Equities research analysts expect that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.4%. 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 presently 58.62%.

Insider Activity

In other L3Harris Technologies news, insider Jon Rambeau sold 5,528 shares of the business’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $370.32, for a total transaction of $2,047,128.96. Following the sale, the insider directly owned 7,660 shares in the company, valued at approximately $2,836,651.20. The trade was a 41.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Melanie Rakita sold 751 shares of L3Harris Technologies stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $370.32, for a total value of $278,110.32. Following the transaction, the vice president owned 4,131 shares in the company, valued at approximately $1,529,791.92. This represents a 15.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 19,025 shares of company stock worth $6,824,370 over the last three months. 0.72% of the stock is currently owned by corporate 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.