Resona Asset Management Co. Ltd. Has $15.86 Million Stock Position in L3Harris Technologies Inc $LHX

Resona Asset Management Co. Ltd. boosted its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 5.3% in the 2nd quarter, Holdings Channel.com reports. The firm owned 63,387 shares of the company’s stock after buying an additional 3,187 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in L3Harris Technologies were worth $15,863,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Nuveen LLC bought a new position in shares of L3Harris Technologies during the 1st quarter worth about $299,157,000. Bank of New York Mellon Corp grew its position in L3Harris Technologies by 52.3% during the second quarter. Bank of New York Mellon Corp now owns 4,117,030 shares of the company’s stock worth $1,032,716,000 after buying an additional 1,413,833 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its stake in L3Harris Technologies by 946.6% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 784,948 shares of the company’s stock valued at $164,297,000 after acquiring an additional 709,948 shares during the period. Wellington Management Group LLP raised its holdings in L3Harris Technologies by 12.2% in the 1st quarter. Wellington Management Group LLP now owns 5,132,140 shares of the company’s stock valued at $1,074,208,000 after acquiring an additional 557,610 shares in the last quarter. Finally, Appaloosa LP bought a new stake in shares of L3Harris Technologies in the 1st quarter worth approximately $62,793,000. 84.76% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 83,000 shares of L3Harris Technologies stock in a transaction on Friday, September 12th. The stock was sold at an average price of $279.90, for a total value of $23,231,700.00. Following the completion of the transaction, the chief executive officer owned 145,578 shares in the company, valued at approximately $40,747,282.20. The trade was a 36.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.72% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on LHX shares. Robert W. Baird boosted their price objective on L3Harris Technologies from $274.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, July 25th. Susquehanna reissued a “positive” rating on shares of L3Harris Technologies in a report on Friday, October 31st. Morgan Stanley raised their price objective on shares of L3Harris Technologies from $250.00 to $350.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 15th. Truist Financial lifted their target price on shares of L3Harris Technologies from $302.00 to $353.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Finally, JPMorgan Chase & Co. increased their price target on shares of L3Harris Technologies from $325.00 to $340.00 and gave the stock an “overweight” rating in a research report on Tuesday. Thirteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $295.63.

L3Harris Technologies Stock Up 2.0%

LHX opened at $290.67 on Friday. The firm has a market cap of $54.37 billion, a price-to-earnings ratio of 32.48, a PEG ratio of 2.09 and a beta of 0.75. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04. The firm’s 50-day simple moving average is $288.06 and its 200-day simple moving average is $263.77. L3Harris Technologies Inc has a twelve month low of $193.09 and a twelve month high of $308.12.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, October 30th. The company reported $2.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.60 by $0.10. The firm had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.51 billion. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period last year, the firm posted $3.34 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. Equities research analysts anticipate that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Monday, November 17th will be given a dividend of $1.20 per share. The ex-dividend date is Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a yield of 1.7%. L3Harris Technologies’s dividend payout ratio is 51.56%.

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.