The bio-tech giant L3Harris Technologies (LHX) features prominently across the financial market. LHX has secured a $28M contract for HMPT, thereby reinforcing its position in the sector. The strong market performance of LHX has elicited interest among investment heavyweights, including Private Advisor Group LLC and Charles Schwab Investment Management Inc, which significantly increased their holdings. However, some entities, such as Fisher Asset Management LLC and Van ECK Associates Corp, have downsized their stakes in the company.
In a surprising move, LHX decided to streamline its operations by cutting down its workforce by 5%, aiming to bring down costs. Unwavering confidence is displayed by entities like Victory Capital Management Inc & William Swanson who acquired a huge number of shares, undeterred by LHX's efforts to balance its debts.
Assessment of the company's performance has been upbeat, with Q1 2024 results reportedly beating revenue expectations, prompting analysts to hike 2024 profitability guidance. The company continues to rally, hitting new 12 month high, and has proposed increasing its dividend to $1.16.
L3harris Technologies LHX News Analytics from Fri, 10 Nov 2023 08:00:00 GMT to Sun, 12 May 2024 21:43:11 GMT - Rating 6 - Innovation 5 - Information 7 - Rumor 4
