Nissay Asset Management Corp Japan ADV Buys 156 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Nissay Asset Management Corp Japan ADV boosted its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 0.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,339 shares of the company’s stock after acquiring an additional 156 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in L3Harris Technologies were worth $4,957,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. increased its position in shares of L3Harris Technologies by 234.3% during the fourth quarter. Meeder Asset Management Inc. now owns 117 shares of the company’s stock valued at $25,000 after purchasing an additional 82 shares during the period. Millstone Evans Group LLC acquired a new stake in L3Harris Technologies during the fourth quarter worth $26,000. Bradley & Co. Private Wealth Management LLC bought a new stake in L3Harris Technologies in the 4th quarter valued at $27,000. Roxbury Financial LLC bought a new stake in L3Harris Technologies in the 4th quarter valued at $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of L3Harris Technologies by 336.4% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company’s stock valued at $30,000 after buying an additional 111 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on LHX. The Goldman Sachs Group upgraded shares of L3Harris Technologies from a “sell” rating to a “buy” rating and lifted their target price for the company from $198.00 to $263.00 in a research report on Friday, April 11th. JPMorgan Chase & Co. decreased their price objective on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Jefferies Financial Group dropped their target price on L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating for the company in a report on Monday, March 31st. Morgan Stanley cut their target price on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Finally, Truist Financial lowered their price target on L3Harris Technologies from $264.00 to $260.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, L3Harris Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $256.56.

L3Harris Technologies Stock Up 3.4%

Shares of NYSE LHX opened at $227.07 on Friday. L3Harris Technologies, Inc. has a 12-month low of $193.09 and a 12-month high of $265.74. The firm’s 50-day simple moving average is $214.33 and its 200 day simple moving average is $219.63. 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 company has a market cap of $42.45 billion, a price-to-earnings ratio of 28.85, a price-to-earnings-growth ratio of 2.42 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, April 24th. The company reported $2.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.32 by $0.09. The company had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.29 billion. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. L3Harris Technologies’s quarterly revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the business earned $3.06 earnings per share. On average, research analysts expect that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be paid a $1.20 dividend. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $4.80 annualized dividend and a dividend yield of 2.11%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 56.94%.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, insider Edward J. Zoiss sold 1,783 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $211.48, for a total transaction of $377,068.84. Following the completion of the sale, the insider now owns 30,620 shares in the company, valued at approximately $6,475,517.60. The trade was a 5.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jon Rambeau sold 3,178 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $226.00, for a total value of $718,228.00. Following the completion of the transaction, the insider now directly owns 2,797 shares in the company, valued at approximately $632,122. This trade represents a 53.19% decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.

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.