Daiwa Securities Group Inc. Has $4.46 Million Position in L3Harris Technologies, Inc. (NYSE:LHX)

Daiwa Securities Group Inc. grew its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 7.8% during the 4th quarter, HoldingsChannel reports. The firm owned 21,187 shares of the company’s stock after acquiring an additional 1,540 shares during the quarter. Daiwa Securities Group Inc.’s holdings in L3Harris Technologies were worth $4,463,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. State Street Corp grew its position in shares of L3Harris Technologies by 4.1% in the first quarter. State Street Corp now owns 8,691,190 shares of the company’s stock valued at $1,705,558,000 after purchasing an additional 339,806 shares during the last quarter. Geode Capital Management LLC grew its position in L3Harris Technologies by 1.0% during the first quarter. Geode Capital Management LLC now owns 3,556,352 shares of the company’s stock worth $696,145,000 after buying an additional 34,726 shares in the last quarter. Morgan Stanley grew its position in L3Harris Technologies by 1.9% during the third quarter. Morgan Stanley now owns 2,507,948 shares of the company’s stock worth $436,684,000 after buying an additional 47,691 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in L3Harris Technologies by 4.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,041,826 shares of the company’s stock worth $430,049,000 after buying an additional 82,423 shares in the last quarter. Finally, Norges Bank acquired a new stake in L3Harris Technologies during the fourth quarter worth about $342,413,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other L3Harris Technologies news, SVP Scott T. Mikuen sold 1,292 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $211.14, for a total transaction of $272,792.88. Following the completion of the sale, the senior vice president now owns 58,617 shares in the company, valued at approximately $12,376,393.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 40,000 shares of the company’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the completion of the sale, the chief executive officer now owns 116,175 shares in the company, valued at approximately $24,654,658.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Scott T. Mikuen sold 1,292 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $211.14, for a total transaction of $272,792.88. Following the completion of the transaction, the senior vice president now directly owns 58,617 shares of the company’s stock, valued at approximately $12,376,393.38. The disclosure for this sale can be found here. Insiders sold 48,362 shares of company stock worth $10,261,360 in the last quarter. Insiders own 0.82% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on LHX. JPMorgan Chase & Co. raised L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 target price on the stock in a research report on Thursday, January 11th. UBS Group lifted their target price on L3Harris Technologies from $222.00 to $229.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. StockNews.com downgraded L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. Citigroup lifted their target price on L3Harris Technologies from $238.00 to $245.00 and gave the stock a “buy” rating in a research report on Tuesday, February 13th. Finally, Wells Fargo & Company decreased their price objective on L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating on the stock in a report on Tuesday, January 30th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $229.00.

L3Harris Technologies Stock Performance

LHX stock opened at $205.45 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.82. The company has a 50 day moving average price of $210.30 and a 200 day moving average price of $199.84. L3Harris Technologies, Inc. has a fifty-two week low of $160.25 and a fifty-two week high of $218.34. The stock has a market capitalization of $39.06 billion, a PE ratio of 31.90, a price-to-earnings-growth ratio of 1.88 and a beta of 0.65.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Friday, January 26th. The company reported $3.35 earnings per share for the quarter, topping the consensus estimate of $3.31 by $0.04. L3Harris Technologies had a net margin of 6.32% and a return on equity of 12.68%. The firm had revenue of $5.34 billion during the quarter, compared to analysts’ expectations of $5.28 billion. During the same quarter in the previous year, the company posted $3.27 EPS. L3Harris Technologies’s revenue was up 16.6% on a year-over-year basis. Analysts forecast that L3Harris Technologies, Inc. will post 12.73 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be given a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 2.26%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 72.05%.

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.