Vanguard Group Inc. Has $7.09 Billion Stock Holdings in L3Harris Technologies Inc $LHX

Vanguard Group Inc. boosted its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 0.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,219,851 shares of the company’s stock after acquiring an additional 49,809 shares during the period. Vanguard Group Inc. owned 0.12% of L3Harris Technologies worth $7,091,575,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Brighton Jones LLC lifted its stake in L3Harris Technologies by 233.9% during the fourth quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock worth $901,000 after purchasing an additional 3,001 shares during the period. CWM LLC increased its holdings in shares of L3Harris Technologies by 7.7% in the second quarter. CWM LLC now owns 5,846 shares of the company’s stock valued at $1,467,000 after purchasing an additional 420 shares in the last quarter. Ritholtz Wealth Management raised its position in L3Harris Technologies by 4.4% in the 2nd quarter. Ritholtz Wealth Management now owns 1,554 shares of the company’s stock worth $390,000 after purchasing an additional 65 shares during the last quarter. International Assets Investment Management LLC bought a new position in L3Harris Technologies in the 2nd quarter worth approximately $230,000. Finally, Chicago Partners Investment Group LLC acquired a new position in L3Harris Technologies during the 2nd quarter worth $239,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Price Performance

L3Harris Technologies stock opened at $345.07 on Tuesday. The firm’s fifty day moving average is $322.96 and its 200 day moving average is $297.60. L3Harris Technologies Inc has a 52-week low of $193.09 and a 52-week high of $369.59. The company has a market cap of $64.45 billion, a price-to-earnings ratio of 40.45, a PEG ratio of 2.49 and a beta of 0.64. The company has a quick ratio of 1.02, a current ratio of 1.19 and a debt-to-equity ratio of 0.53.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, beating the consensus estimate of $2.76 by $0.10. The business had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.76 billion. L3Harris Technologies had a return on equity of 10.43% and a net margin of 7.35%.The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.47 EPS. Sell-side analysts forecast that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be paid a $1.25 dividend. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.20. This represents a $5.00 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Friday, March 6th. L3Harris Technologies’s payout ratio is presently 56.27%.

Analyst Ratings Changes

A number of research analysts have issued reports on LHX shares. Susquehanna reissued a “positive” rating on shares of L3Harris Technologies in a research note on Thursday, January 15th. BNP Paribas Exane upgraded L3Harris Technologies to a “hold” rating in a report on Tuesday, November 18th. UBS Group boosted their price target on L3Harris Technologies to $323.00 and gave the company a “neutral” rating in a research note on Wednesday, January 14th. Royal Bank Of Canada boosted their price objective on shares of L3Harris Technologies from $360.00 to $365.00 and gave the company a “sector perform” rating in a research report on Friday, January 30th. Finally, Wolfe Research restated an “outperform” rating on shares of L3Harris Technologies in a report on Friday, January 30th. Fifteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $328.57.

Insiders Place Their Bets

In related news, insider Samir Mehta sold 4,840 shares of the stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $338.85, for a total value of $1,640,034.00. Following the transaction, the insider directly owned 5,916 shares of the company’s stock, valued at $2,004,636.60. This trade represents a 45.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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.