2,800 Shares in L3Harris Technologies, Inc. (NYSE:LHX) Acquired by Mufg Securities Americas Inc.

Mufg Securities Americas Inc. bought a new position in shares of L3Harris Technologies, Inc. (NYSE:LHX) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 2,800 shares of the company’s stock, valued at approximately $589,000.

Several other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in L3Harris Technologies by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company’s stock worth $4,895,534,000 after buying an additional 401,168 shares during the period. Geode Capital Management LLC increased its position in shares of L3Harris Technologies by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 4,788,619 shares of the company’s stock valued at $1,004,418,000 after purchasing an additional 53,787 shares during the last quarter. FMR LLC increased its position in shares of L3Harris Technologies by 11.5% in the 4th quarter. FMR LLC now owns 2,261,999 shares of the company’s stock valued at $475,653,000 after purchasing an additional 233,968 shares during the last quarter. Invesco Ltd. increased its position in shares of L3Harris Technologies by 30.5% in the 4th quarter. Invesco Ltd. now owns 2,235,077 shares of the company’s stock valued at $469,992,000 after purchasing an additional 522,861 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of L3Harris Technologies in the 4th quarter valued at approximately $398,507,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Stock Up 3.4%

LHX stock opened at $227.07 on Friday. L3Harris Technologies, Inc. has a one year low of $193.09 and a one year high of $265.74. The stock has a market capitalization of $42.45 billion, a PE ratio of 28.85, a price-to-earnings-growth 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. The company has a fifty day moving average of $214.33 and a 200-day moving average of $219.63.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, April 24th. The company reported $2.41 EPS for the quarter, topping the consensus estimate of $2.32 by $0.09. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. The company had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $5.29 billion. During the same quarter last year, the business earned $3.06 EPS. The business’s revenue was down 1.5% on a year-over-year basis. As a group, analysts expect that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be paid a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 2.11%. The ex-dividend date is Tuesday, June 3rd. L3Harris Technologies’s dividend payout ratio (DPR) is presently 56.94%.

Insider Transactions at L3Harris Technologies

In related news, insider Jon Rambeau sold 3,178 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $226.00, for a total value of $718,228.00. Following the completion of the sale, the insider now owns 2,797 shares in the company, valued at $632,122. This trade represents a 53.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Edward J. Zoiss sold 1,783 shares of the firm’s stock in a transaction dated 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 owns 30,620 shares of the company’s stock, valued at $6,475,517.60. This trade represents a 5.50% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on LHX. Truist Financial dropped their price objective on shares of L3Harris Technologies from $264.00 to $260.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Citigroup dropped their price objective on shares of L3Harris Technologies from $285.00 to $245.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Morgan Stanley lowered their target price on shares of L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. 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 report on Tuesday, February 4th. Finally, Wells Fargo & Company lowered their target price 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 investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, L3Harris Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $256.56.

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.