MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Acquires 29,644 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 26.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 143,073 shares of the company’s stock after acquiring an additional 29,644 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.08% of L3Harris Technologies worth $30,085,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of LHX. Harbor Capital Advisors Inc. raised its stake in shares of L3Harris Technologies by 2.4% during the fourth quarter. Harbor Capital Advisors Inc. now owns 4,919 shares of the company’s stock valued at $1,034,000 after acquiring an additional 113 shares during the last quarter. Czech National Bank raised its stake in L3Harris Technologies by 6.4% during the fourth quarter. Czech National Bank now owns 41,124 shares of the company’s stock worth $8,648,000 after buying an additional 2,480 shares during the last quarter. Fiduciary Alliance LLC raised its stake in L3Harris Technologies by 23.8% during the fourth quarter. Fiduciary Alliance LLC now owns 2,458 shares of the company’s stock worth $517,000 after buying an additional 473 shares during the last quarter. Brookstone Capital Management raised its stake in L3Harris Technologies by 11.3% during the fourth quarter. Brookstone Capital Management now owns 3,620 shares of the company’s stock worth $761,000 after buying an additional 368 shares during the last quarter. Finally, Capital Investment Advisors LLC raised its stake in L3Harris Technologies by 13.1% during the fourth quarter. Capital Investment Advisors LLC now owns 6,211 shares of the company’s stock worth $1,306,000 after buying an additional 718 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Performance

Shares of LHX stock opened at $218.44 on Wednesday. The firm has a market cap of $40.84 billion, a price-to-earnings ratio of 27.76, a P/E/G ratio of 2.42 and a beta of 0.72. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. L3Harris Technologies, Inc. has a 52 week low of $193.09 and a 52 week high of $265.74. The firm’s 50-day simple moving average is $214.18 and its two-hundred day simple moving average is $219.78.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, April 24th. The company reported $2.41 EPS for the quarter, topping the consensus estimate of $2.32 by $0.09. The business had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.29 billion. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.06 earnings per share. As a group, equities analysts forecast that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be given a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Tuesday, June 3rd. L3Harris Technologies’s dividend payout ratio (DPR) is currently 56.94%.

Analyst Upgrades and Downgrades

LHX has been the subject of a number of analyst reports. JPMorgan Chase & Co. lowered their target price on shares of L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Bank of America lowered their target price on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a research note on Tuesday, February 4th. Jefferies Financial Group lowered their target price on shares of L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating for the company in a research note on Monday, March 31st. The Goldman Sachs Group raised shares of L3Harris Technologies from a “sell” rating to a “buy” rating and lifted their target price for the stock from $198.00 to $263.00 in a research note on Friday, April 11th. Finally, Wells Fargo & Company reduced their price target on shares of L3Harris Technologies from $268.00 to $242.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $256.56.

Insider Activity

In other news, insider Jon Rambeau sold 3,178 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $226.00, for a total value of $718,228.00. Following the sale, the insider now owns 2,797 shares of the company’s stock, valued at $632,122. The trade was a 53.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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 transaction of $377,068.84. Following the completion of the sale, the insider now directly owns 30,620 shares in the company, valued at approximately $6,475,517.60. This trade represents a 5.50% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

About L3Harris Technologies

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.