Nikko Asset Management Americas Inc. Buys 15,328 Shares of L3Harris Technologies Inc $LHX

Nikko Asset Management Americas Inc. raised its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 22.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 84,294 shares of the company’s stock after purchasing an additional 15,328 shares during the period. Nikko Asset Management Americas Inc.’s holdings in L3Harris Technologies were worth $21,142,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. Kiker Wealth Management LLC increased its holdings in L3Harris Technologies by 137.0% in the 2nd quarter. Kiker Wealth Management LLC now owns 109 shares of the company’s stock worth $27,000 after acquiring an additional 63 shares during the last quarter. Twin Peaks Wealth Advisors LLC bought a new position in L3Harris Technologies during the second quarter worth about $34,000. Nova Wealth Management Inc. purchased a new position in shares of L3Harris Technologies in the first quarter worth about $26,000. Harbor Asset Planning Inc. bought a new stake in shares of L3Harris Technologies in the second quarter valued at approximately $32,000. Finally, Independence Bank of Kentucky lifted its stake in shares of L3Harris Technologies by 44.4% during the 2nd quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock valued at $33,000 after buying an additional 40 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Christopher E. Kubasik sold 14,171 shares of the company’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $301.05, for a total value of $4,266,179.55. Following the completion of the transaction, the chief executive officer directly owned 144,426 shares in the company, valued at approximately $43,479,447.30. The trade was a 8.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.72% of the company’s stock.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $286.84 on Friday. The firm has a market capitalization of $53.65 billion, a P/E ratio of 30.81, a P/E/G ratio of 2.01 and a beta of 0.65. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 0.56. The stock’s 50-day simple moving average is $287.77 and its two-hundred day simple moving average is $274.41. L3Harris Technologies Inc has a twelve month low of $193.09 and a twelve month high of $308.12.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, October 30th. The company reported $2.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 11.08% and a net margin of 8.09%.The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter last year, the company posted $3.34 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. As a group, equities analysts anticipate that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Monday, November 17th were given a dividend of $1.20 per share. The ex-dividend date was Monday, November 17th. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. L3Harris Technologies’s dividend payout ratio (DPR) is 51.56%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Truist Financial boosted their target price on shares of L3Harris Technologies from $302.00 to $353.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Susquehanna reiterated a “positive” rating on shares of L3Harris Technologies in a research note on Friday, October 31st. Wall Street Zen raised L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Friday, August 22nd. BNP Paribas raised L3Harris Technologies to a “hold” rating in a report on Tuesday, November 18th. Finally, Morgan Stanley upped their price target on L3Harris Technologies from $250.00 to $350.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 15th. Eleven equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $295.50.

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.