SG Americas Securities LLC Raises Stake in L3Harris Technologies Inc $LHX

SG Americas Securities LLC grew its position in L3Harris Technologies Inc (NYSE:LHX) by 728.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 203,403 shares of the company’s stock after purchasing an additional 178,848 shares during the quarter. SG Americas Securities LLC’s holdings in L3Harris Technologies were worth $59,713,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of LHX. State Street Corp lifted its stake in shares of L3Harris Technologies by 1.2% during the 2nd quarter. State Street Corp now owns 8,874,482 shares of the company’s stock valued at $2,226,075,000 after buying an additional 105,402 shares in the last quarter. Boston Partners increased its stake in L3Harris Technologies by 72.1% in the 2nd quarter. Boston Partners now owns 2,002,211 shares of the company’s stock worth $504,160,000 after buying an additional 838,546 shares in the last quarter. Bank of America Corp DE increased its stake in L3Harris Technologies by 3.1% in the 2nd quarter. Bank of America Corp DE now owns 1,728,519 shares of the company’s stock worth $433,582,000 after buying an additional 52,776 shares in the last quarter. Capital Research Global Investors raised its holdings in L3Harris Technologies by 23.3% during the third quarter. Capital Research Global Investors now owns 1,657,085 shares of the company’s stock valued at $506,090,000 after acquiring an additional 312,846 shares during the period. Finally, AGF Management Ltd. raised its holdings in L3Harris Technologies by 15.9% during the third quarter. AGF Management Ltd. now owns 1,500,887 shares of the company’s stock valued at $458,386,000 after acquiring an additional 205,479 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Samir Mehta sold 5,528 shares of the company’s stock in a transaction that occurred 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 sale, the insider directly owned 7,756 shares of the company’s stock, valued at $2,872,201.92. This represents a 41.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jon Rambeau sold 5,528 shares of the 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 7,660 shares of the company’s stock, valued at $2,836,651.20. This represents a 41.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 19,025 shares of company stock valued at $6,824,370 in the last quarter. 0.72% of the stock is currently owned by insiders.

L3Harris Technologies Stock Up 1.7%

LHX opened at $351.46 on Wednesday. The company has a market capitalization of $65.65 billion, a PE ratio of 41.20, a price-to-earnings-growth ratio of 2.49 and a beta of 0.63. The firm has a 50-day simple moving average of $353.87 and a two-hundred day simple moving average of $313.24. 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 Inc has a 52 week low of $195.72 and a 52 week high of $379.23.

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

L3Harris Technologies Increases Dividend

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

Analysts Set New Price Targets

A number of research firms have recently weighed in on LHX. Wall Street Zen lowered L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Susquehanna reissued a “positive” rating on shares of L3Harris Technologies in a research note on Thursday, January 15th. Royal Bank Of Canada boosted their price target on L3Harris Technologies from $360.00 to $365.00 and gave the stock a “sector perform” rating in a report on Friday, January 30th. Citigroup upped 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. Finally, JPMorgan Chase & Co. increased their price objective on shares of L3Harris Technologies from $340.00 to $395.00 and gave the company an “overweight” rating in a report on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $328.57.

L3Harris Technologies 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.