L3Harris Technologies (LHX) is seeing significant movements in the market with the company reaching a
new 12-month high at $224.65. Performances have been varied in comparison to market competition, but institutional shareholders have kept firm control, owning 85-86% of the company. Recent transactions include the reduction of positions by Brown Advisory Inc. and Clearbridge Investments LLC, while Beacon Pointe Advisors LLC, Principal Securities Inc, and Victory Capital Management Inc. increased their stakes. The company recently struck a deal to sell its
Commercial Aviation Solutions business, garnering up to $800 million. The company’s use of debt has been considered sensible, and investing five years ago would have delivered a 43% gain.
Cautious financials and instances of insider selling suggest some hesitancy. L3Harris reported strong fiscal year 2023 results and set a promising 2024 guidance. There has been an increase in the dividend to $1.16, and the company plans to sell non-core assets. Despite workforce cuts to save costs, L3Harris remains a top investment with
healthy future returns predicted, and the Royal Bank of Canada has raised its price target to $250.00.
L3harris Technologies LHX News Analytics from Mon, 09 Oct 2023 07:00:00 GMT to Thu, 23 May 2024 10:45:13 GMT -
Rating 6
- Innovation 4
- Information 8
- Rumor -3
