Vinva Investment Management Ltd Increases Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Vinva Investment Management Ltd grew its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 25.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,553 shares of the company’s stock after purchasing an additional 313 shares during the period. Vinva Investment Management Ltd’s holdings in L3Harris Technologies were worth $365,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Cetera Investment Advisers increased its holdings in L3Harris Technologies by 236.3% in the first quarter. Cetera Investment Advisers now owns 63,530 shares of the company’s stock valued at $13,538,000 after buying an additional 44,641 shares in the last quarter. Cetera Advisors LLC increased its stake in shares of L3Harris Technologies by 100.4% in the 1st quarter. Cetera Advisors LLC now owns 30,855 shares of the company’s stock valued at $6,575,000 after purchasing an additional 15,457 shares in the last quarter. Transcend Capital Advisors LLC raised its holdings in L3Harris Technologies by 86.7% in the 2nd quarter. Transcend Capital Advisors LLC now owns 2,742 shares of the company’s stock worth $616,000 after purchasing an additional 1,273 shares during the period. GAMMA Investing LLC boosted its position in L3Harris Technologies by 57.4% during the second quarter. GAMMA Investing LLC now owns 1,462 shares of the company’s stock worth $328,000 after purchasing an additional 533 shares in the last quarter. Finally, Moody National Bank Trust Division lifted its position in shares of L3Harris Technologies by 2.7% during the 2nd quarter. Moody National Bank Trust Division now owns 4,097 shares of the company’s stock valued at $920,000 after buying an additional 106 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Stock Performance

NYSE LHX opened at $246.25 on Friday. The stock has a fifty day simple moving average of $246.22 and a 200-day simple moving average of $234.15. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58. The stock has a market cap of $46.71 billion, a PE ratio of 38.90, a P/E/G ratio of 2.05 and a beta of 0.72. L3Harris Technologies, Inc. has a twelve month low of $188.95 and a twelve month high of $265.74.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, topping the consensus estimate of $3.27 by $0.07. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The company had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.28 billion. During the same quarter last year, the firm posted $3.19 earnings per share. L3Harris Technologies’s revenue was up 7.7% compared to the same quarter last year. Equities analysts anticipate that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be paid a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date is Monday, November 18th. L3Harris Technologies’s dividend payout ratio (DPR) is 73.30%.

Insider Transactions at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $247.93, for a total transaction of $740,814.84. Following the transaction, the insider now owns 10,340 shares of the company’s stock, valued at approximately $2,563,596.20. This represents a 22.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 8,964 shares of company stock worth $2,179,119 over the last ninety days. Company insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Bank of America raised shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $240.00 to $300.00 in a research note on Thursday, October 31st. Truist Financial lifted their price target on L3Harris Technologies from $293.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Royal Bank of Canada raised their price target on shares of L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a research note on Monday, October 28th. Wolfe Research raised shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective for the company in a research note on Thursday, October 10th. Finally, Citigroup raised their target price on shares of L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, L3Harris Technologies has a consensus rating of “Moderate Buy” and an average target price of $269.67.

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.