L3Harris Technologies, Inc. (NYSE:LHX) Shares Purchased by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. lifted its position in L3Harris Technologies, Inc. (NYSE:LHX) by 5.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 7,072 shares of the company’s stock after acquiring an additional 397 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in L3Harris Technologies were worth $1,487,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. Fortem Financial Group LLC acquired a new position in L3Harris Technologies in the third quarter worth $841,000. Czech National Bank boosted its holdings in shares of L3Harris Technologies by 6.4% in the 4th quarter. Czech National Bank now owns 41,124 shares of the company’s stock valued at $8,648,000 after buying an additional 2,480 shares during the period. JPMorgan Chase & Co. grew its position in shares of L3Harris Technologies by 29.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock valued at $184,245,000 after buying an additional 178,407 shares during the last quarter. Principal Financial Group Inc. raised its stake in L3Harris Technologies by 2.0% during the third quarter. Principal Financial Group Inc. now owns 220,269 shares of the company’s stock worth $52,395,000 after acquiring an additional 4,321 shares during the period. Finally, Sanctuary Advisors LLC lifted its holdings in L3Harris Technologies by 13.9% in the third quarter. Sanctuary Advisors LLC now owns 30,634 shares of the company’s stock worth $7,602,000 after acquiring an additional 3,740 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other L3Harris Technologies news, insider Jon Rambeau sold 3,178 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $226.00, for a total transaction of $718,228.00. Following the completion of the sale, the insider now directly owns 2,797 shares of the company’s stock, valued at approximately $632,122. This represents a 53.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ross Niebergall sold 1,373 shares of L3Harris Technologies stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $210.06, for a total transaction of $288,412.38. Following the completion of the transaction, the insider now directly owns 5,049 shares in the company, valued at approximately $1,060,592.94. This trade represents a 21.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,334 shares of company stock worth $1,383,709 in the last three months. 0.72% of the stock is currently owned by insiders.

L3Harris Technologies Trading Down 0.3 %

Shares of LHX stock opened at $211.97 on Thursday. L3Harris Technologies, Inc. has a fifty-two week low of $193.09 and a fifty-two week high of $265.74. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $39.79 billion, a P/E ratio of 26.93, a P/E/G ratio of 2.42 and a beta of 0.74. The stock has a 50-day simple moving average of $209.66 and a 200 day simple moving average of $225.78.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, January 30th. The company reported $3.47 EPS for the quarter, topping analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. On average, sell-side analysts expect that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were paid a dividend of $1.20 per share. The ex-dividend date of this dividend was Monday, March 10th. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.16. This represents a $4.80 annualized dividend and a dividend yield of 2.26%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 60.99%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on LHX. Raymond James cut L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Morgan Stanley dropped their target price on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. UBS Group upped their price target on shares of L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Truist Financial cut their price objective on shares of L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Finally, Citigroup decreased their target price on shares of L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating for the company in a research report on Monday, February 10th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, L3Harris Technologies currently has an average rating of “Moderate Buy” and an average target price of $261.40.

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.