Resona Asset Management Co. Ltd. Makes New Investment in L3Harris Technologies, Inc. (NYSE:LHX)

Resona Asset Management Co. Ltd. bought a new position in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 54,601 shares of the company's stock, valued at approximately $11,498,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Measured Wealth Private Client Group LLC raised its stake in shares of L3Harris Technologies by 5.5% during the 4th quarter. Measured Wealth Private Client Group LLC now owns 953 shares of the company's stock worth $200,000 after purchasing an additional 50 shares during the period. Premier Path Wealth Partners LLC increased its stake in shares of L3Harris Technologies by 3.4% in the fourth quarter. Premier Path Wealth Partners LLC now owns 1,561 shares of the company's stock worth $328,000 after purchasing an additional 51 shares in the last quarter. U.S. Capital Wealth Advisors LLC lifted its stake in shares of L3Harris Technologies by 2.2% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 2,447 shares of the company's stock valued at $514,000 after buying an additional 53 shares in the last quarter. Klingman & Associates LLC boosted its holdings in L3Harris Technologies by 2.8% in the 4th quarter. Klingman & Associates LLC now owns 1,933 shares of the company's stock worth $406,000 after buying an additional 53 shares during the period. Finally, Zullo Investment Group Inc. raised its holdings in L3Harris Technologies by 3.2% during the 4th quarter. Zullo Investment Group Inc. now owns 1,717 shares of the company's stock valued at $361,000 after acquiring an additional 54 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

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L3Harris Technologies Price Performance

LHX traded up $5.76 during midday trading on Friday, hitting $219.27. 858,811 shares of the company traded hands, compared to its average volume of 990,450. The company has a market capitalization of $41.16 billion, a price-to-earnings ratio of 27.85, a PEG ratio of 2.42 and a beta of 0.71. The business has a 50 day simple moving average of $207.40 and a two-hundred day simple moving average of $223.78. L3Harris Technologies, Inc. has a 52-week low of $193.09 and a 52-week high of $265.74. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. On average, equities analysts forecast that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend was Monday, March 10th. This is a positive change from L3Harris Technologies's previous quarterly dividend of $1.16. L3Harris Technologies's dividend payout ratio (DPR) is 60.99%.

Insider Buying and Selling

In other news, insider Jon Rambeau sold 3,178 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $226.00, for a total value of $718,228.00. Following the completion of the sale, the insider now directly owns 2,797 shares of the company's stock, valued at approximately $632,122. This represents a 53.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Edward J. Zoiss sold 1,783 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $211.48, for a total value of $377,068.84. Following the completion of the transaction, the insider now directly 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 disclosure for this sale can be found here. 0.72% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on LHX. Wells Fargo & Company lowered their price target on shares of L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating on the stock in a report on Tuesday. UBS Group boosted their target price on L3Harris Technologies from $228.00 to $237.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. The Goldman Sachs Group upgraded shares of L3Harris Technologies from a "sell" rating to a "buy" rating and upped their target price for the stock from $198.00 to $263.00 in a research report on Friday. JPMorgan Chase & Co. reduced their price objective on L3Harris Technologies from $265.00 to $255.00 and set an "overweight" rating on the stock in a research report on Friday, January 31st. Finally, Citigroup lowered their price objective on shares of L3Harris Technologies from $285.00 to $245.00 and set a "buy" rating for the company in a report on Thursday. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $256.94.

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.