Nomura Asset Management Co. Ltd. Boosts Position in L3Harris Technologies, Inc. (NYSE:LHX)

Nomura Asset Management Co. Ltd. grew its position in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 4.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 55,901 shares of the company's stock after purchasing an additional 2,216 shares during the quarter. Nomura Asset Management Co. Ltd.'s holdings in L3Harris Technologies were worth $13,297,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LHX. Envestnet Asset Management Inc. raised its holdings in L3Harris Technologies by 236.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 989,340 shares of the company's stock worth $222,186,000 after purchasing an additional 695,582 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of L3Harris Technologies by 19.7% during the second quarter. Bank of New York Mellon Corp now owns 3,174,181 shares of the company's stock worth $712,858,000 after buying an additional 523,315 shares during the period. The Manufacturers Life Insurance Company raised its stake in L3Harris Technologies by 65.2% during the second quarter. The Manufacturers Life Insurance Company now owns 434,287 shares of the company's stock worth $97,532,000 after buying an additional 171,420 shares during the last quarter. International Assets Investment Management LLC boosted its position in L3Harris Technologies by 23,627.0% during the third quarter. International Assets Investment Management LLC now owns 170,597 shares of the company's stock valued at $40,580,000 after acquiring an additional 169,878 shares during the last quarter. Finally, Mizuho Markets Americas LLC grew its holdings in L3Harris Technologies by 25.3% during the 3rd quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company's stock worth $195,704,000 after acquiring an additional 166,262 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LHX has been the topic of several research reports. Royal Bank of Canada lifted their price target on shares of L3Harris Technologies from $240.00 to $265.00 and gave the company a "sector perform" rating in a research report on Monday, October 28th. Argus raised shares of L3Harris Technologies from a "hold" rating to a "buy" rating and set a $300.00 target price for the company in a research report on Tuesday, November 26th. StockNews.com raised shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a research report on Monday, October 28th. Deutsche Bank Aktiengesellschaft decreased their price objective on L3Harris Technologies from $252.00 to $250.00 and set a "hold" rating for the company in a report on Thursday, October 3rd. Finally, Truist Financial raised their target price on L3Harris Technologies from $293.00 to $300.00 and gave the company a "buy" rating in a report on Monday, October 28th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $269.13.

Insider Transactions at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of the firm'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 transaction, the insider now directly owns 10,340 shares of the company's stock, valued at approximately $2,563,596.20. This trade represents a 22.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.82% of the company's stock.

L3Harris Technologies Stock Performance

L3Harris Technologies stock traded down $4.52 during mid-day trading on Thursday, reaching $224.35. The company's stock had a trading volume of 1,421,212 shares, compared to its average volume of 911,113. The company has a market capitalization of $42.55 billion, a P/E ratio of 35.69, a PEG ratio of 1.96 and a beta of 0.72. The firm's fifty day moving average price is $245.92 and its two-hundred day moving average price is $234.83. L3Harris Technologies, Inc. has a 12-month low of $200.18 and a 12-month high of $265.74. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04.

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

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Monday, November 18th were issued a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend was Monday, November 18th. L3Harris Technologies's payout ratio is 73.30%.

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.