Sumitomo Mitsui DS Asset Management Company Ltd Acquires 203 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 1.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 17,352 shares of the company’s stock after acquiring an additional 203 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in L3Harris Technologies were worth $3,655,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Strong Tower Advisory Services increased its holdings in shares of L3Harris Technologies by 0.9% in the fourth quarter. Strong Tower Advisory Services now owns 5,363 shares of the company’s stock valued at $1,130,000 after purchasing an additional 49 shares during the last quarter. Blossom Wealth Management boosted its holdings in shares of L3Harris Technologies by 2.1% during the fourth quarter. Blossom Wealth Management now owns 2,465 shares of the company’s stock worth $519,000 after acquiring an additional 51 shares during the period. Cassaday & Co Wealth Management LLC grew its position in shares of L3Harris Technologies by 3.8% in the third quarter. Cassaday & Co Wealth Management LLC now owns 1,622 shares of the company’s stock valued at $282,000 after purchasing an additional 59 shares during the last quarter. Sky Investment Group LLC increased its stake in shares of L3Harris Technologies by 4.2% during the third quarter. Sky Investment Group LLC now owns 1,495 shares of the company’s stock worth $260,000 after purchasing an additional 60 shares during the period. Finally, Twin Lakes Capital Management LLC increased its stake in shares of L3Harris Technologies by 0.4% during the third quarter. Twin Lakes Capital Management LLC now owns 14,695 shares of the company’s stock worth $2,559,000 after purchasing an additional 60 shares during the period. 84.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

LHX has been the topic of several recent research reports. Wells Fargo & Company lowered their price objective on L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 30th. Citigroup increased their target price on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock a “buy” rating in a research report on Tuesday, February 13th. Royal Bank of Canada boosted their price target on L3Harris Technologies from $235.00 to $245.00 and gave the company an “outperform” rating in a research note on Monday, January 29th. Alembic Global Advisors raised L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price objective for the company in a report on Monday. Finally, Raymond James upped their target price on L3Harris Technologies from $220.00 to $235.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, L3Harris Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $229.60.

Insiders Place Their Bets

In other news, CEO Christopher E. Kubasik sold 40,000 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $212.22, for a total value of $8,488,800.00. Following the transaction, the chief executive officer now directly owns 116,175 shares of the company’s stock, valued at approximately $24,654,658.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Christopher E. Kubasik sold 40,000 shares of L3Harris Technologies stock in a transaction on Monday, March 25th. The shares were sold at an average price of $212.22, for a total value 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 transaction was disclosed in a document filed 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 transaction, the senior vice president now owns 58,617 shares in the company, valued at approximately $12,376,393.38. The disclosure for this sale can be found here. In the last ninety days, insiders sold 48,362 shares of company stock worth $10,261,360. Company insiders own 0.87% of the company’s stock.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $208.14 on Tuesday. The stock’s 50-day moving average is $210.24 and its 200-day moving average is $200.64. The stock has a market cap of $39.57 billion, a P/E ratio of 32.32, a price-to-earnings-growth ratio of 1.91 and a beta of 0.65. L3Harris Technologies, Inc. has a 1-year low of $160.25 and a 1-year high of $218.34. The company has a current ratio of 1.01, a quick ratio of 0.82 and a debt-to-equity ratio of 0.59.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Friday, January 26th. The company reported $3.35 earnings per share for the quarter, beating analysts’ consensus estimates of $3.31 by $0.04. L3Harris Technologies had a net margin of 6.32% and a return on equity of 12.68%. The business had revenue of $5.34 billion during the quarter, compared to the consensus estimate of $5.28 billion. During the same quarter in the prior year, the firm posted $3.27 EPS. The company’s revenue for the quarter was up 16.6% compared to the same quarter last year. Equities research analysts anticipate that L3Harris Technologies, Inc. will post 12.73 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 2.23%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 72.05%.

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.