Daiwa Securities Group Inc. lowered its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 4.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,297 shares of the company's stock after selling 1,360 shares during the period. Daiwa Securities Group Inc.'s holdings in L3Harris Technologies were worth $5,529,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of LHX. Geode Capital Management LLC lifted its stake in L3Harris Technologies by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,734,832 shares of the company's stock valued at $1,122,630,000 after buying an additional 59,008 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of L3Harris Technologies in the fourth quarter valued at $398,507,000. Massachusetts Financial Services Co. MA boosted its stake in shares of L3Harris Technologies by 5.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,542,333 shares of the company's stock valued at $366,875,000 after acquiring an additional 85,882 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in L3Harris Technologies by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,210,107 shares of the company's stock worth $254,461,000 after purchasing an additional 32,979 shares in the last quarter. Finally, Mizuho Markets Americas LLC raised its stake in L3Harris Technologies by 25.3% in the 3rd quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company's stock valued at $195,704,000 after purchasing an additional 166,262 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.
L3Harris Technologies Trading Down 1.4 %
NYSE:LHX opened at $209.28 on Thursday. The business's 50-day moving average is $209.15 and its two-hundred day moving average is $227.28. The firm has a market capitalization of $39.41 billion, a PE ratio of 26.59, a price-to-earnings-growth ratio of 2.42 and a beta of 0.74. L3Harris Technologies, Inc. has a 12 month low of $193.09 and a 12 month high of $265.74. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90.
L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its earnings results on Thursday, January 30th. The company reported $3.47 EPS for the quarter, beating the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. Research analysts predict that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.
L3Harris Technologies Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be paid a dividend of $1.20 per share. This is an increase from L3Harris Technologies's previous quarterly dividend of $1.16. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.80 annualized dividend and a yield of 2.29%. L3Harris Technologies's payout ratio is 60.99%.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on LHX. Argus upgraded shares of L3Harris Technologies from a "hold" rating to a "buy" rating and set a $300.00 price target for the company in a report on Tuesday, November 26th. JPMorgan Chase & Co. cut their price target on L3Harris Technologies from $265.00 to $255.00 and set an "overweight" rating for the company in a report on Friday, January 31st. Citigroup decreased their price objective on L3Harris Technologies from $291.00 to $285.00 and set a "buy" rating on the stock in a report on Monday, February 10th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of L3Harris Technologies from $250.00 to $229.00 and set a "hold" rating on the stock in a report on Thursday, January 2nd. Finally, UBS Group upped their price target on shares of L3Harris Technologies from $228.00 to $237.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, L3Harris Technologies has an average rating of "Moderate Buy" and a consensus target price of $261.40.
Get Our Latest Stock Analysis on L3Harris Technologies
Insiders Place Their Bets
In other L3Harris Technologies news, insider Jon Rambeau sold 3,178 shares of the firm's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $226.00, for a total transaction of $718,228.00. Following the completion of the transaction, the insider now directly owns 2,797 shares of the company's stock, valued at $632,122. This trade represents a 53.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ross Niebergall sold 1,764 shares of L3Harris Technologies stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $213.65, for a total value of $376,878.60. Following the completion of the transaction, the insider now owns 6,812 shares of the company's stock, valued at $1,455,383.80. This trade represents a 20.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,862 shares of company stock worth $2,155,054 in the last quarter. 0.82% of the stock is owned by corporate insiders.
About L3Harris Technologies
(
Free Report)
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.
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