L3Harris Technologies, Inc. (NYSE:LHX) Holdings Lowered by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp trimmed its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 3.9% in the 1st quarter, HoldingsChannel reports. The firm owned 98,810 shares of the company’s stock after selling 3,992 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in L3Harris Technologies were worth $21,056,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of LHX. Capital World Investors lifted its stake in L3Harris Technologies by 26.0% in the 4th quarter. Capital World Investors now owns 16,056,272 shares of the company’s stock worth $3,381,784,000 after acquiring an additional 3,308,506 shares in the last quarter. Vanguard Group Inc. lifted its stake in L3Harris Technologies by 15.4% in the 4th quarter. Vanguard Group Inc. now owns 20,186,512 shares of the company’s stock worth $4,251,683,000 after acquiring an additional 2,692,771 shares in the last quarter. Mizuho Markets Americas LLC lifted its stake in L3Harris Technologies by 990.3% in the 4th quarter. Mizuho Markets Americas LLC now owns 2,204,675 shares of the company’s stock worth $464,349,000 after acquiring an additional 2,002,475 shares in the last quarter. Norges Bank purchased a new stake in L3Harris Technologies in the 4th quarter worth about $325,147,000. Finally, Wellington Management Group LLP lifted its stake in L3Harris Technologies by 34.7% in the 4th quarter. Wellington Management Group LLP now owns 4,416,904 shares of the company’s stock worth $930,288,000 after acquiring an additional 1,138,549 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Stock Down 1.3 %

Shares of NYSE LHX traded down $2.99 during mid-day trading on Friday, reaching $234.77. 643,164 shares of the company traded hands, compared to its average volume of 800,777. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.80 and a current ratio of 0.98. The stock has a market cap of $44.53 billion, a PE ratio of 38.11, a price-to-earnings-growth ratio of 1.95 and a beta of 0.72. The company’s fifty day moving average is $224.64 and its two-hundred day moving average is $214.96. L3Harris Technologies, Inc. has a fifty-two week low of $160.25 and a fifty-two week high of $242.86.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, April 25th. The company reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.89 by $0.17. The firm had revenue of $5.21 billion for the quarter, compared to analyst estimates of $5.11 billion. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The company’s revenue was up 16.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.86 EPS. On average, analysts expect that L3Harris Technologies, Inc. will post 12.99 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be issued a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date is Friday, September 6th. L3Harris Technologies’s dividend payout ratio (DPR) is currently 75.32%.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, SVP Scott T. Mikuen sold 10,527 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $230.00, for a total value of $2,421,210.00. Following the sale, the senior vice president now owns 47,616 shares of the company’s stock, valued at approximately $10,951,680. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other L3Harris Technologies news, SVP Scott T. Mikuen sold 15,887 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $235.00, for a total value of $3,733,445.00. Following the completion of the sale, the senior vice president now owns 47,616 shares in the company, valued at approximately $11,189,760. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Scott T. Mikuen sold 10,527 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $230.00, for a total value of $2,421,210.00. Following the completion of the sale, the senior vice president now owns 47,616 shares of the company’s stock, valued at approximately $10,951,680. The disclosure for this sale can be found here. Insiders have sold 109,312 shares of company stock valued at $24,712,822 in the last 90 days. 0.82% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on LHX shares. Alembic Global Advisors raised L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price objective for the company in a research note on Monday, April 22nd. JPMorgan Chase & Co. increased their price objective on L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Royal Bank of Canada upped their target price on L3Harris Technologies from $245.00 to $250.00 and gave the stock an “outperform” rating in a research report on Monday, April 29th. Wells Fargo & Company upped their target price on L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 7th. Finally, Barclays upped their target price on L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 30th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $231.80.

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.