L3Harris Technologies Inc $LHX Shares Purchased by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in L3Harris Technologies Inc (NYSE:LHX) by 5.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 394,908 shares of the company’s stock after acquiring an additional 21,968 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in L3Harris Technologies were worth $120,609,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. GGM Financials LLC purchased a new position in shares of L3Harris Technologies in the third quarter valued at $32,000. Twin Peaks Wealth Advisors LLC purchased a new stake in L3Harris Technologies during the 2nd quarter worth $34,000. Salomon & Ludwin LLC acquired a new position in L3Harris Technologies in the 3rd quarter worth $34,000. Rakuten Securities Inc. lifted its holdings in L3Harris Technologies by 234.8% in the 2nd quarter. Rakuten Securities Inc. now owns 154 shares of the company’s stock worth $39,000 after buying an additional 108 shares in the last quarter. Finally, Steigerwald Gordon & Koch Inc. purchased a new position in L3Harris Technologies in the 3rd quarter valued at about $42,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Analysts Set New Price Targets

LHX has been the topic of several recent analyst reports. Susquehanna reiterated a “positive” rating on shares of L3Harris Technologies in a research note on Thursday, January 15th. JPMorgan Chase & Co. lifted their price target on L3Harris Technologies from $340.00 to $395.00 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. UBS Group upped their price objective on L3Harris Technologies to $323.00 and gave the company a “neutral” rating in a research note on Wednesday, January 14th. TD Cowen reiterated a “buy” rating on shares of L3Harris Technologies in a research report on Monday, January 5th. Finally, Royal Bank Of Canada boosted their price target on L3Harris Technologies from $360.00 to $365.00 and gave the company a “sector perform” rating in a report on Friday, January 30th. Fifteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $328.57.

L3Harris Technologies Price Performance

NYSE LHX opened at $355.24 on Friday. L3Harris Technologies Inc has a 12 month low of $195.72 and a 12 month high of $369.59. The firm has a market capitalization of $66.35 billion, a PE ratio of 41.65, a P/E/G ratio of 2.46 and a beta of 0.64. The company’s 50 day simple moving average is $333.89 and its 200 day simple moving average is $301.55. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.19 and a quick ratio of 1.02.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, topping analysts’ consensus estimates of $2.76 by $0.10. L3Harris Technologies had a return on equity of 10.43% and a net margin of 7.35%.The firm had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.76 billion. During the same period in the prior year, the firm posted $3.47 earnings per share. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, equities research analysts forecast that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be paid a dividend of $1.25 per share. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.20. This represents a $5.00 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Friday, March 6th. L3Harris Technologies’s dividend payout ratio (DPR) is 56.27%.

Insider Transactions at L3Harris Technologies

In related news, insider Samir Mehta sold 4,840 shares of L3Harris Technologies stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $338.85, for a total transaction of $1,640,034.00. Following the transaction, the insider directly owned 5,916 shares of the company’s stock, valued at $2,004,636.60. The trade was a 45.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.72% of the stock is currently owned by insiders.

L3Harris Technologies Company Profile

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.