L3Harris Technologies, Inc. (NYSE:LHX) Stake Raised by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 1.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 17,352 shares of the company’s stock after acquiring an additional 203 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in L3Harris Technologies were worth $3,655,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. GDS Wealth Management raised its holdings in shares of L3Harris Technologies by 184.5% during the third quarter. GDS Wealth Management now owns 90,123 shares of the company’s stock worth $15,692,000 after acquiring an additional 58,441 shares in the last quarter. Sapient Capital LLC purchased a new stake in shares of L3Harris Technologies during the 4th quarter worth about $1,198,000. Bruce G. Allen Investments LLC acquired a new stake in shares of L3Harris Technologies during the 4th quarter valued at about $46,000. Ceredex Value Advisors LLC grew its stake in shares of L3Harris Technologies by 14.1% in the 3rd quarter. Ceredex Value Advisors LLC now owns 673,757 shares of the company’s stock valued at $117,315,000 after buying an additional 83,319 shares in the last quarter. Finally, BKM Wealth Management LLC acquired a new position in L3Harris Technologies in the fourth quarter worth approximately $1,125,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on LHX shares. StockNews.com downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. Wells Fargo & Company decreased their price objective on shares of L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating for the company in a report on Tuesday, January 30th. Citigroup raised their target price on L3Harris Technologies from $238.00 to $245.00 and gave the company a “buy” rating in a report on Tuesday, February 13th. Royal Bank of Canada upped their price target on L3Harris Technologies from $235.00 to $245.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. Finally, UBS Group raised their price objective on L3Harris Technologies from $222.00 to $229.00 and gave the company a “neutral” rating in a research note on Monday, January 29th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, L3Harris Technologies presently has an average rating of “Moderate Buy” and an average price target of $229.60.

L3Harris Technologies Stock Up 1.3 %

LHX stock opened at $208.14 on Tuesday. The business’s 50-day simple moving average is $210.24 and its 200 day simple moving average is $200.64. The company has a quick ratio of 0.82, a current ratio of 1.01 and a debt-to-equity ratio of 0.59. L3Harris Technologies, Inc. has a twelve month low of $160.25 and a twelve month high of $218.34. The company has a market cap of $39.57 billion, a PE ratio of 32.32, a price-to-earnings-growth ratio of 1.91 and a beta of 0.65.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Friday, January 26th. The company reported $3.35 EPS for the quarter, topping the consensus estimate of $3.31 by $0.04. The firm had revenue of $5.34 billion during the quarter, compared to analysts’ expectations of $5.28 billion. L3Harris Technologies had a return on equity of 12.68% and a net margin of 6.32%. L3Harris Technologies’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same period last year, the business earned $3.27 earnings per share. On average, research analysts anticipate that L3Harris Technologies, Inc. will post 12.73 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 2.23%. L3Harris Technologies’s payout ratio is currently 72.05%.

Insider Buying and Selling

In other news, CEO Christopher E. Kubasik sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $212.22, for a total value of $8,488,800.00. Following the sale, the chief executive officer now directly owns 116,175 shares in the company, valued at approximately $24,654,658.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 40,000 shares of L3Harris Technologies stock in a transaction on Monday, March 25th. The stock was sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the completion of the transaction, the chief executive officer now directly owns 116,175 shares of the company’s stock, valued at $24,654,658.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Edward J. Zoiss sold 3,707 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $211.47, for a total transaction of $783,919.29. Following the completion of the sale, the insider now owns 28,644 shares in the company, valued at approximately $6,057,346.68. The disclosure for this sale can be found here. Insiders sold 48,362 shares of company stock valued at $10,261,360 over the last quarter. Corporate insiders own 0.87% of the company’s stock.

About L3Harris Technologies

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.