Asset Management One Co. Ltd. Boosts Holdings in L3Harris Technologies Inc (NYSE:LHX)

Asset Management One Co. Ltd. grew its stake in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 6.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 76,280 shares of the company's stock after acquiring an additional 4,370 shares during the quarter. Asset Management One Co. Ltd.'s holdings in L3Harris Technologies were worth $15,966,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in LHX. Meeder Asset Management Inc. lifted its stake in shares of L3Harris Technologies by 234.3% in the 4th quarter. Meeder Asset Management Inc. now owns 117 shares of the company's stock worth $25,000 after purchasing an additional 82 shares during the period. Millstone Evans Group LLC bought a new position in shares of L3Harris Technologies in the 4th quarter worth approximately $26,000. Beacon Capital Management LLC lifted its stake in shares of L3Harris Technologies by 79.5% in the 1st quarter. Beacon Capital Management LLC now owns 131 shares of the company's stock worth $27,000 after purchasing an additional 58 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of L3Harris Technologies by 336.4% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company's stock worth $30,000 after purchasing an additional 111 shares during the period. Finally, Park Square Financial Group LLC bought a new position in shares of L3Harris Technologies in the 4th quarter worth approximately $37,000. Hedge funds and other institutional investors own 84.76% of the company's stock.

Insider Activity

In related news, CEO Christopher E. Kubasik sold 33,061 shares of the business's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $248.48, for a total value of $8,214,997.28. Following the sale, the chief executive officer now owns 145,572 shares in the company, valued at approximately $36,171,730.56. The trade was a 18.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Edward J. Zoiss sold 2,000 shares of the business's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $245.00, for a total transaction of $490,000.00. Following the completion of the sale, the insider now owns 25,325 shares in the company, valued at $6,204,625. This represents a 7.32% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.72% of the company's stock.

Wall Street Analyst Weigh In

LHX has been the topic of several recent research reports. Citigroup increased their price objective on shares of L3Harris Technologies from $245.00 to $280.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. The Goldman Sachs Group upgraded shares of L3Harris Technologies from a "sell" rating to a "buy" rating and increased their price objective for the stock from $198.00 to $263.00 in a research note on Friday, April 11th. Wells Fargo & Company decreased their target price on shares of L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Truist Financial decreased their target price on shares of L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Finally, Jefferies Financial Group decreased their target price on shares of L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $258.75.

L3Harris Technologies Price Performance

Shares of L3Harris Technologies stock traded up $0.72 on Friday, hitting $247.52. 2,158,843 shares of the company traded hands, compared to its average volume of 1,153,514. The stock has a market capitalization of $46.27 billion, a P/E ratio of 29.36, a price-to-earnings-growth ratio of 1.98 and a beta of 0.74. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.85 and a current ratio of 1.02. L3Harris Technologies Inc has a 52 week low of $193.09 and a 52 week high of $265.74. The business has a 50-day simple moving average of $233.80 and a 200 day simple moving average of $218.98.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The company reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.09. The firm had revenue of $5.13 billion for the quarter, compared to analysts' expectations of $5.29 billion. L3Harris Technologies had a net margin of 7.55% and a return on equity of 12.38%. The company's revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter last year, the business posted $3.06 earnings per share. Research analysts expect that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd were given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 1.94%. The ex-dividend date was Tuesday, June 3rd. L3Harris Technologies's payout ratio is currently 56.94%.

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.