L3Harris Technologies, Inc. (NYSE:LHX) Shares Bought by Vinva Investment Management Ltd

Vinva Investment Management Ltd boosted its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 312.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,410 shares of the company’s stock after acquiring an additional 4,857 shares during the quarter. Vinva Investment Management Ltd’s holdings in L3Harris Technologies were worth $1,339,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LHX. Quest Partners LLC boosted its position in shares of L3Harris Technologies by 36,000.0% during the third quarter. Quest Partners LLC now owns 361 shares of the company’s stock worth $86,000 after buying an additional 360 shares during the period. Fifth Third Wealth Advisors LLC boosted its position in shares of L3Harris Technologies by 30.7% during the third quarter. Fifth Third Wealth Advisors LLC now owns 2,397 shares of the company’s stock worth $570,000 after buying an additional 563 shares during the period. Avior Wealth Management LLC boosted its position in shares of L3Harris Technologies by 616.6% during the third quarter. Avior Wealth Management LLC now owns 2,637 shares of the company’s stock worth $627,000 after buying an additional 2,269 shares during the period. Strategy Asset Managers LLC boosted its position in shares of L3Harris Technologies by 15.0% during the third quarter. Strategy Asset Managers LLC now owns 1,586 shares of the company’s stock worth $377,000 after buying an additional 207 shares during the period. Finally, Advisors Asset Management Inc. boosted its position in shares of L3Harris Technologies by 33.0% during the third quarter. Advisors Asset Management Inc. now owns 24,873 shares of the company’s stock worth $5,917,000 after buying an additional 6,174 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Royal Bank of Canada restated a “sector perform” rating and set a $240.00 price target on shares of L3Harris Technologies in a research report on Friday, January 31st. Barclays decreased their target price on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Bank of America decreased their target price on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a report on Tuesday, February 4th. Morgan Stanley decreased their target price on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Finally, Truist Financial decreased their target price on L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating for the company in a report on Friday, January 31st. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $261.40.

Insider Transactions at L3Harris Technologies

In related news, insider Edward J. Zoiss sold 1,783 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $211.48, for a total value of $377,068.84. Following the transaction, the insider now owns 30,620 shares in the company, valued at $6,475,517.60. The trade was a 5.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Jon Rambeau sold 3,178 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $226.00, for a total value of $718,228.00. Following the completion of the transaction, the insider now owns 2,797 shares in the company, valued at $632,122. This trade represents a 53.19 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,098 shares of company stock worth $1,760,588. Corporate insiders own 0.72% of the company’s stock.

L3Harris Technologies Stock Down 1.5 %

L3Harris Technologies stock opened at $209.91 on Friday. L3Harris Technologies, Inc. has a 1-year low of $193.09 and a 1-year high of $265.74. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. The stock has a market cap of $39.40 billion, a PE ratio of 26.67, a P/E/G ratio of 2.42 and a beta of 0.74. The stock’s fifty day moving average is $209.80 and its two-hundred day moving average is $226.46.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, January 30th. The company reported $3.47 EPS for the quarter, topping analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. On average, sell-side analysts expect that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Monday, March 10th will be given a dividend of $1.20 per share. The ex-dividend date is Monday, March 10th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.29%. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. L3Harris Technologies’s payout ratio is 60.99%.

L3Harris Technologies Company 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.