MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Buys 282,182 Shares of L3Harris Technologies Inc $LHX

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 45.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 900,532 shares of the company’s stock after buying an additional 282,182 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in L3Harris Technologies were worth $275,031,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Caitlin John LLC bought a new stake in shares of L3Harris Technologies in the 3rd quarter worth about $28,000. JPL Wealth Management LLC bought a new position in L3Harris Technologies during the 3rd quarter valued at about $29,000. GGM Financials LLC purchased a new stake in L3Harris Technologies in the 3rd quarter worth about $32,000. Twin Peaks Wealth Advisors LLC bought a new stake in L3Harris Technologies in the second quarter worth about $34,000. Finally, Salomon & Ludwin LLC bought a new stake in L3Harris Technologies in the third quarter worth about $34,000. Institutional investors own 84.76% of the company’s stock.

Insiders Place Their Bets

In other news, insider Jon Rambeau sold 5,528 shares of the 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 owned 7,660 shares of the company’s stock, valued at approximately $2,836,651.20. This represents a 41.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Melanie Rakita sold 751 shares of the firm’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 $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 position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 19,025 shares of company stock worth $6,824,370. 0.72% of the stock is currently owned by company insiders.

L3Harris Technologies Stock Performance

Shares of NYSE:LHX opened at $366.41 on Tuesday. The firm’s 50 day simple moving average is $350.22 and its 200-day simple moving average is $309.70. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.19. L3Harris Technologies Inc has a one year low of $195.72 and a one year high of $379.23. The firm has a market cap of $68.44 billion, a PE ratio of 42.96, a price-to-earnings-growth ratio of 2.59 and a beta of 0.63.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) 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 firm had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.76 billion. During the same quarter in the previous year, the business earned $3.47 earnings per share. L3Harris Technologies’s quarterly revenue was up 2.3% on a year-over-year basis. As a group, equities analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be given a dividend of $1.25 per share. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.20. The ex-dividend date of this dividend is Friday, March 6th. This represents a $5.00 dividend on an annualized basis and a yield of 1.4%. L3Harris Technologies’s dividend payout ratio is presently 58.62%.

Analyst Ratings Changes

A number of research analysts have recently commented on LHX shares. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of L3Harris Technologies in a research note on Friday, February 6th. Citigroup raised their price target on L3Harris Technologies from $389.00 to $418.00 and gave the stock a “buy” rating in a research note on Thursday, February 5th. Vertical Research reaffirmed a “buy” rating and issued a $355.00 price objective on shares of L3Harris Technologies in a research report on Tuesday, January 13th. Argus upgraded L3Harris Technologies to a “strong-buy” rating in a research note on Friday, February 27th. Finally, BNP Paribas Exane upgraded L3Harris Technologies to a “hold” rating in a research report on Tuesday, November 18th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $328.57.

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.