Asset Management One Co. Ltd. Raises Position in L3Harris Technologies, Inc. (NYSE:LHX)

Asset Management One Co. Ltd. raised its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 1.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,138 shares of the company’s stock after purchasing an additional 818 shares during the period. Asset Management One Co. Ltd.’s holdings in L3Harris Technologies were worth $16,684,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Meeder Asset Management Inc. raised its position in L3Harris Technologies by 260.6% during the second quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock valued at $27,000 after purchasing an additional 86 shares during the period. EntryPoint Capital LLC raised its holdings in shares of L3Harris Technologies by 70.4% in the first quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock worth $36,000 after buying an additional 69 shares during the period. Versant Capital Management Inc increased its holdings in L3Harris Technologies by 77.7% during the 2nd quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock worth $41,000 after purchasing an additional 80 shares during the period. Family Firm Inc. purchased a new position in L3Harris Technologies during the 2nd quarter worth $45,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in L3Harris Technologies during the 2nd quarter worth $57,000. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

L3Harris Technologies Stock Performance

Shares of LHX stock opened at $250.95 on Wednesday. The firm has a market capitalization of $47.60 billion, a price-to-earnings ratio of 39.64, a price-to-earnings-growth ratio of 2.06 and a beta of 0.72. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87. The business has a fifty day moving average of $239.48 and a 200 day moving average of $229.71. L3Harris Technologies, Inc. has a 1 year low of $179.56 and a 1 year high of $258.89.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, beating analysts’ consensus estimates of $3.27 by $0.07. The business had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.28 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The company’s revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the business posted $3.19 EPS. As a group, research analysts expect that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be paid a dividend of $1.16 per share. The ex-dividend date is Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.85%. L3Harris Technologies’s payout ratio is currently 73.30%.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total transaction of $731,103.84. Following the completion of the transaction, the insider now owns 13,328 shares in the company, valued at approximately $3,261,095.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last quarter, insiders sold 8,964 shares of company stock worth $2,179,119. Insiders own 0.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on LHX. Susquehanna raised their price objective on L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a report on Monday, July 29th. Wells Fargo & Company raised their price objective on L3Harris Technologies from $260.00 to $295.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Deutsche Bank Aktiengesellschaft reduced their price objective on L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Morgan Stanley downgraded L3Harris Technologies from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $275.00 to $257.00 in a report on Friday, August 9th. Finally, StockNews.com raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $267.50.

L3Harris Technologies 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.