SG Americas Securities LLC Raises Stock Holdings in L3Harris Technologies Inc $LHX

SG Americas Securities LLC raised its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 728.4% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 203,403 shares of the company’s stock after acquiring an additional 178,848 shares during the period. SG Americas Securities LLC owned approximately 0.11% of L3Harris Technologies worth $59,713,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Caitlin John LLC purchased a new position in shares of L3Harris Technologies during the third quarter valued at approximately $28,000. JPL Wealth Management LLC bought a new position in L3Harris Technologies during the third quarter valued at approximately $29,000. Triumph Capital Management purchased a new stake in L3Harris Technologies in the third quarter worth approximately $31,000. GGM Financials LLC bought a new stake in L3Harris Technologies in the 3rd quarter worth approximately $32,000. Finally, Twin Peaks Wealth Advisors LLC bought a new stake in L3Harris Technologies in the 2nd quarter worth approximately $34,000. 84.76% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, 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 transaction of $278,110.32. Following the transaction, the vice president directly owned 4,131 shares of the company’s stock, valued at $1,529,791.92. The trade was a 15.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Samir Mehta sold 5,528 shares of the business’s stock in a transaction that occurred 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 transaction, the insider 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 19,025 shares of company stock worth $6,824,370 over the last quarter. 0.72% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on LHX shares. Susquehanna reiterated a “positive” rating on shares of L3Harris Technologies in a research note on Thursday, January 15th. Royal Bank Of Canada lifted their price objective on L3Harris Technologies from $360.00 to $365.00 and gave the stock a “sector perform” rating in a report on Friday, January 30th. Wolfe Research reiterated an “outperform” rating on shares of L3Harris Technologies in a research report on Friday, January 30th. UBS Group increased their target price on L3Harris Technologies to $323.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. Finally, Wall Street Zen cut L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $328.57.

L3Harris Technologies Stock Up 1.7%

LHX opened at $351.46 on Wednesday. The firm’s 50 day simple moving average is $353.87 and its two-hundred day simple moving average is $313.24. The company has a market capitalization of $65.65 billion, a PE ratio of 41.20, a PEG ratio of 2.49 and a beta of 0.63. L3Harris Technologies Inc has a 1-year low of $195.72 and a 1-year high of $379.23. The company has a current ratio of 1.19, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data 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. The firm had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.76 billion. L3Harris Technologies had a net margin of 7.35% and a return on equity of 10.43%. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.47 EPS. As a group, equities analysts forecast that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

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

About L3Harris Technologies

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.