L3Harris Technologies Inc $LHX Stock Holdings Increased by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. increased its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 9.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 33,429 shares of the company’s stock after buying an additional 2,931 shares during the quarter. Rakuten Investment Management Inc.’s holdings in L3Harris Technologies were worth $7,905,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LHX. Miller Global Investments LLC increased its holdings in shares of L3Harris Technologies by 34.0% in the second quarter. Miller Global Investments LLC now owns 138 shares of the company’s stock worth $40,000 after acquiring an additional 35 shares in the last quarter. AlTi Global Inc. raised its position in shares of L3Harris Technologies by 4.3% during the first quarter. AlTi Global Inc. now owns 923 shares of the company’s stock worth $319,000 after purchasing an additional 38 shares during the period. Twin Lakes Capital Management LLC raised its position in shares of L3Harris Technologies by 0.3% during the second quarter. Twin Lakes Capital Management LLC now owns 14,195 shares of the company’s stock worth $4,125,000 after purchasing an additional 38 shares during the period. Center for Financial Planning Inc. lifted its holdings in shares of L3Harris Technologies by 18.8% during the 3rd quarter. Center for Financial Planning Inc. now owns 246 shares of the company’s stock valued at $58,000 after purchasing an additional 39 shares in the last quarter. Finally, Signature Equity Partners LLC lifted its holdings in shares of L3Harris Technologies by 2.3% during the 1st quarter. Signature Equity Partners LLC now owns 1,863 shares of the company’s stock valued at $643,000 after purchasing an additional 41 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Stock Performance

LHX opened at $258.88 on Friday. The company has a market capitalization of $48.20 billion, a price-to-earnings ratio of 24.15, a P/E/G ratio of 1.59 and a beta of 0.47. The business’s 50-day moving average price is $250.19 and its two-hundred day moving average price is $303.58. L3Harris Technologies Inc has a 1 year low of $232.34 and a 1 year high of $379.23. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.20 and a quick ratio of 1.05.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, October 29th. The company reported $3.28 earnings per share for the quarter, topping the consensus estimate of $2.95 by $0.33. The company had revenue of $6.07 billion during the quarter, compared to analysts’ expectations of $5.92 billion. L3Harris Technologies had a return on equity of 11.49% and a net margin of 8.76%. L3Harris Technologies’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.70 earnings per share. Equities analysts expect that L3Harris Technologies Inc will post 12.04 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, December 4th will be paid a $1.25 dividend. The ex-dividend date is Friday, December 4th. This represents a $5.00 annualized dividend and a yield of 1.9%. L3Harris Technologies’s payout ratio is presently 46.64%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on LHX. Bank of America boosted their price objective on L3Harris Technologies from $325.00 to $375.00 and gave the company a “buy” rating in a research report on Tuesday. Jefferies Financial Group downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating and set a $315.00 target price on the stock. in a report on Wednesday, August 26th. Melius Research lowered shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, September 8th. Argus cut shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Friday, September 25th. Finally, Royal Bank Of Canada increased their price objective on shares of L3Harris Technologies from $265.00 to $295.00 and gave the stock a “sector perform” rating in a research report on Friday, October 30th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, L3Harris Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $345.60.

About L3Harris Technologies

L3Harris Technologies, Inc is a technology and defense company that develops products and systems for government and commercial customers. Its offerings support aerospace, defense, space, communications, intelligence, surveillance and reconnaissance, electronic warfare, missile defense, and aviation missions.

The company provides secure communications equipment, tactical radios, sensors, avionics, electronic warfare systems, missile and air defense technologies, space payloads and systems, and other mission-critical solutions.