Daiwa Securities Group Inc. Boosts Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Daiwa Securities Group Inc. raised its stake in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 12.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 27,657 shares of the company's stock after purchasing an additional 2,990 shares during the quarter. Daiwa Securities Group Inc.'s holdings in L3Harris Technologies were worth $6,579,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of LHX. EntryPoint Capital LLC grew its stake in shares of 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 purchasing an additional 69 shares during the last quarter. Silvercrest Asset Management Group LLC grew its stake in shares of L3Harris Technologies by 1.8% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 49,319 shares of the company's stock valued at $10,510,000 after purchasing an additional 865 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its stake in shares of L3Harris Technologies by 2.8% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 7,074 shares of the company's stock valued at $1,507,000 after purchasing an additional 193 shares during the last quarter. Coppell Advisory Solutions Corp. purchased a new stake in shares of L3Harris Technologies in the first quarter valued at approximately $2,199,000. Finally, Comerica Bank boosted its stake in shares of L3Harris Technologies by 5.1% in the first quarter. Comerica Bank now owns 86,019 shares of the company's stock valued at $18,331,000 after buying an additional 4,148 shares in the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the business's stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $247.93, for a total transaction of $740,814.84. Following the completion of the sale, the insider now owns 10,340 shares of the company's stock, valued at approximately $2,563,596.20. The trade was a 22.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders sold 8,964 shares of company stock worth $2,179,119. 0.87% of the stock is currently owned by insiders.

L3Harris Technologies Price Performance

Shares of NYSE LHX traded up $4.97 during trading on Tuesday, reaching $245.57. The company had a trading volume of 765,808 shares, compared to its average volume of 910,090. The stock has a market capitalization of $46.58 billion, a PE ratio of 38.80, a price-to-earnings-growth ratio of 2.07 and a beta of 0.72. The stock has a 50-day moving average price of $245.04 and a two-hundred day moving average price of $233.54. L3Harris Technologies, Inc. has a twelve month low of $187.37 and a twelve month high of $265.74. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its earnings results on Thursday, October 24th. The company reported $3.34 EPS for the quarter, beating the consensus estimate of $3.27 by $0.07. The firm had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.28 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The business's quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.19 earnings per share. As a group, sell-side analysts predict that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently announced 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 is Monday, November 18th. This represents a $4.64 annualized dividend and a yield of 1.89%. L3Harris Technologies's payout ratio is currently 73.30%.

Analysts Set New Price Targets

A number of research firms recently weighed in on LHX. Wells Fargo & Company lifted their price target on L3Harris Technologies from $260.00 to $295.00 and gave the company an "overweight" rating in a research note on Monday, October 28th. Barclays lifted their price target on L3Harris Technologies from $245.00 to $265.00 and gave the company an "overweight" rating in a research note on Tuesday, July 30th. Morgan Stanley downgraded L3Harris Technologies from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $275.00 to $257.00 in a research note on Friday, August 9th. Citigroup boosted their target price on L3Harris Technologies from $268.00 to $291.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. Finally, Argus upgraded L3Harris Technologies from a "hold" rating to a "buy" rating and set a $300.00 target price on the stock in a research report on Tuesday. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $269.67.

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.