Mirae Asset Global Investments Co. Ltd. Has $2.97 Million Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Mirae Asset Global Investments Co. Ltd. boosted its position in L3Harris Technologies, Inc. (NYSE:LHX) by 38.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 12,622 shares of the company’s stock after acquiring an additional 3,521 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in L3Harris Technologies were worth $2,966,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LHX. Meeder Asset Management Inc. increased its position in L3Harris Technologies by 260.6% in the 2nd quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock valued at $27,000 after buying an additional 86 shares in the last quarter. EntryPoint Capital LLC increased its position in L3Harris Technologies by 70.4% in the 1st quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock valued at $36,000 after buying an additional 69 shares in the last quarter. Versant Capital Management Inc increased its position in L3Harris Technologies by 77.7% in the 2nd quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock valued at $41,000 after buying an additional 80 shares in the last quarter. Family Firm Inc. bought a new stake in L3Harris Technologies in the 2nd quarter valued at about $45,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in L3Harris Technologies in the 2nd quarter valued at about $57,000. 84.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

LHX has been the subject of a number of research analyst reports. StockNews.com raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday. Wolfe Research raised L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective for the company in a report on Thursday, October 10th. Susquehanna boosted their price objective on L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a report on Monday, July 29th. Royal Bank of Canada boosted their price objective on L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a report on Monday. Finally, Morgan Stanley lowered L3Harris Technologies from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $275.00 to $257.00 in a report on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $261.50.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total transaction of $731,103.84. Following the sale, the insider now owns 13,328 shares in the company, valued at $3,261,095.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.82% of the stock is owned by company insiders.

L3Harris Technologies Stock Performance

LHX stock opened at $245.07 on Wednesday. L3Harris Technologies, Inc. has a 12-month low of $172.30 and a 12-month high of $258.89. The company has a quick ratio of 0.74, a current ratio of 0.90 and a debt-to-equity ratio of 0.56. The business has a 50 day moving average of $237.74 and a 200-day moving average of $228.12. The firm has a market cap of $46.49 billion, a PE ratio of 39.78, a P/E/G ratio of 2.10 and a beta of 0.73.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, October 24th. The company reported $3.34 EPS for the quarter, beating the consensus estimate of $3.27 by $0.07. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The business had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.28 billion. During the same quarter in the prior year, the business earned $3.19 earnings per share. L3Harris Technologies’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, sell-side analysts expect that L3Harris Technologies, Inc. will post 13.06 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be paid a $1.16 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.64 annualized dividend and a yield of 1.89%. L3Harris Technologies’s payout ratio is 75.32%.

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.