Asset Management One Co. Ltd. Increases Position in L3Harris Technologies, Inc. (NYSE:LHX)

Asset Management One Co. Ltd. raised its position in L3Harris Technologies, Inc. (NYSE:LHX) by 1.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 70,138 shares of the company’s stock after buying an additional 818 shares during the period. Asset Management One Co. Ltd.’s holdings in L3Harris Technologies were worth $16,684,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. National Pension Service boosted its holdings in L3Harris Technologies by 16.2% in the 3rd quarter. National Pension Service now owns 426,508 shares of the company’s stock worth $101,453,000 after buying an additional 59,494 shares during the last quarter. Intact Investment Management Inc. boosted its holdings in shares of L3Harris Technologies by 6.1% during the 3rd quarter. Intact Investment Management Inc. now owns 27,620 shares of the company’s stock worth $6,570,000 after purchasing an additional 1,600 shares during the last quarter. Citizens National Bank Trust Department boosted its holdings in shares of L3Harris Technologies by 7.1% during the 3rd quarter. Citizens National Bank Trust Department now owns 5,683 shares of the company’s stock worth $1,352,000 after purchasing an additional 375 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in shares of L3Harris Technologies by 78.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 34,567 shares of the company’s stock worth $8,222,000 after purchasing an additional 15,191 shares during the last quarter. Finally, Whitener Capital Management Inc. boosted its holdings in shares of L3Harris Technologies by 18.7% during the 3rd quarter. Whitener Capital Management Inc. now owns 2,035 shares of the company’s stock worth $484,000 after purchasing an additional 320 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Stock Up 1.6 %

L3Harris Technologies stock opened at $250.95 on Wednesday. L3Harris Technologies, Inc. has a twelve month low of $179.56 and a twelve month high of $258.89. The stock’s fifty day simple moving average is $239.48 and its 200-day simple moving average is $229.71. 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 firm has a market capitalization of $47.60 billion, a P/E ratio of 39.64, a P/E/G ratio of 2.06 and a beta of 0.72.

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

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be paid a dividend of $1.16 per share. The ex-dividend date is Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.85%. L3Harris Technologies’s payout ratio is currently 73.30%.

Insider Buying and Selling

In related news, insider Ross Niebergall sold 2,988 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $236.68, for a total transaction of $707,199.84. Following the completion of the transaction, the insider now owns 16,316 shares in the company, valued at approximately $3,861,670.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last quarter, insiders sold 8,964 shares of company stock worth $2,179,119. Corporate insiders own 0.87% of the company’s stock.

Wall Street Analyst Weigh In

LHX has been the topic of several recent research reports. Morgan Stanley cut L3Harris Technologies from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $275.00 to $257.00 in a report on Friday, August 9th. Bank of America upgraded L3Harris Technologies from a “neutral” rating to a “buy” rating and upped their price objective for the company from $240.00 to $300.00 in a report on Thursday, October 31st. StockNews.com upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Barclays upped their price objective on L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $267.50.

L3Harris Technologies 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.