Tokio Marine Asset Management Co. Ltd. Buys 292 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Tokio Marine Asset Management Co. Ltd. grew its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 7.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 4,438 shares of the company’s stock after purchasing an additional 292 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in L3Harris Technologies were worth $935,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. KB Financial Partners LLC grew its holdings in shares of L3Harris Technologies by 96.5% in the 3rd quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock valued at $29,000 after acquiring an additional 82 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of L3Harris Technologies by 178.7% in the 4th quarter. Blue Trust Inc. now owns 170 shares of the company’s stock valued at $36,000 after acquiring an additional 109 shares in the last quarter. Washington Trust Advisors Inc. grew its holdings in shares of L3Harris Technologies by 80.6% in the 4th quarter. Washington Trust Advisors Inc. now owns 177 shares of the company’s stock valued at $37,000 after acquiring an additional 79 shares in the last quarter. New England Capital Financial Advisors LLC bought a new position in L3Harris Technologies during the third quarter worth about $35,000. Finally, Bruce G. Allen Investments LLC bought a new position in L3Harris Technologies during the fourth quarter worth about $46,000. Institutional investors own 84.76% of the company’s stock.

Analysts Set New Price Targets

LHX has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 price target for the company in a report on Thursday, January 11th. Raymond James lifted their price target on L3Harris Technologies from $220.00 to $235.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. StockNews.com cut L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Monday, January 29th. Citigroup boosted their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. Finally, Wells Fargo & Company reduced their price objective on L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating for the company in a report on Tuesday, January 30th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $229.60.

Insider Activity

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 40,000 shares of the stock in a transaction dated 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 SEC, which is available at this link. In related news, CEO Christopher E. Kubasik sold 40,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 116,175 shares of the company’s stock, valued at approximately $24,654,658.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director William H. Swanson acquired 1,250 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average cost of $215.35 per share, with a total value of $269,187.50. Following the completion of the acquisition, the director now owns 1,543 shares in the company, valued at approximately $332,285.05. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 48,362 shares of company stock worth $10,261,360. Company insiders own 0.82% of the company’s stock.

L3Harris Technologies Stock Up 3.5 %

NYSE LHX opened at $214.54 on Friday. 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, Inc. has a 1-year low of $160.25 and a 1-year high of $218.34. The company has a 50 day moving average of $210.16 and a 200-day moving average of $201.28. The company has a market cap of $40.79 billion, a price-to-earnings ratio of 34.83, a PEG ratio of 1.93 and a beta of 0.65.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, April 25th. The company reported $3.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.89 by $0.17. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The firm had revenue of $5.21 billion for the quarter, compared to analysts’ expectations of $5.11 billion. During the same quarter in the previous year, the firm posted $2.86 earnings per share. The company’s revenue was up 16.6% on a year-over-year basis. On average, equities research analysts expect that L3Harris Technologies, Inc. will post 12.73 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

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. The ex-dividend date is Friday, May 31st. This represents a $4.64 dividend on an annualized basis and a yield of 2.16%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 75.32%.

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.