Mirae Asset Global Investments Co. Ltd. Purchases 5,299 Shares of L3Harris Technologies Inc $LHX

Key Points

• Mirae Asset Global Investments boosted its stake in L3Harris by 17.5%, buying 5,299 shares to hold 35,522 shares valued at about $10.43 million at the end of the quarter.
• Q4 results: L3Harris reported $2.86 EPS versus $2.76 expected and $5.65 billion in revenue (a slight miss), with revenue up 2.3% year‑over‑year and analysts projecting full‑year EPS of about 11.12.
• Dividend increase: the company raised its quarterly payout to $1.25 (annualized $5.00), up from $1.20, implying a ~1.4% yield and a payout ratio near 58.6%.

Mirae Asset Global Investments Co. Ltd. increased its position in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 17.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,522 shares of the company's stock after purchasing an additional 5,299 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in L3Harris Technologies were worth $10,428,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Burns J W & Co. Inc. NY grew its position in L3Harris Technologies by 3.1% in the fourth quarter. Burns J W & Co. Inc. NY now owns 987 shares of the company's stock valued at $290,000 after acquiring an additional 30 shares during the period. American National Bank & Trust grew its position in L3Harris Technologies by 44.8% in the fourth quarter. American National Bank & Trust now owns 97 shares of the company's stock valued at $28,000 after acquiring an additional 30 shares during the period. Rainier Family Wealth Inc. grew its position in L3Harris Technologies by 4.8% in the fourth quarter. Rainier Family Wealth Inc. now owns 700 shares of the company's stock valued at $205,000 after acquiring an additional 32 shares during the period. San Luis Wealth Advisors LLC grew its position in L3Harris Technologies by 5.1% in the fourth quarter. San Luis Wealth Advisors LLC now owns 705 shares of the company's stock valued at $207,000 after acquiring an additional 34 shares during the period. Finally, Wealth Quarterback LLC grew its position in L3Harris Technologies by 1.8% in the fourth quarter. Wealth Quarterback LLC now owns 2,011 shares of the company's stock valued at $590,000 after acquiring an additional 35 shares during the period. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Price Performance

L3Harris Technologies stock opened at $349.76 on Monday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.19. The firm has a market cap of $65.33 billion, a P/E ratio of 41.00, a P/E/G ratio of 1.77 and a beta of 0.62. The business's fifty day moving average is $355.54 and its two-hundred day moving average is $321.84. L3Harris Technologies Inc has a 52 week low of $208.11 and a 52 week high of $379.23.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its quarterly earnings data on Thursday, January 29th. The company reported $2.86 EPS for the quarter, topping analysts' consensus estimates of $2.76 by $0.10. The company had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.76 billion. L3Harris Technologies had a return on equity of 10.43% and a net margin of 7.35%.The business's revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.47 earnings per share. Equities research analysts forecast that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Friday, March 6th were paid a $1.25 dividend. This is an increase from L3Harris Technologies's previous quarterly dividend of $1.20. This represents a $5.00 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Friday, March 6th. L3Harris Technologies's payout ratio is presently 58.62%.

Insiders Place Their Bets

In other L3Harris Technologies news, VP Melanie Rakita sold 2,378 shares of the business's stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $341.45, for a total value of $811,968.10. Following the transaction, the vice president owned 4,882 shares of the company's stock, valued at approximately $1,666,958.90. The trade was a 32.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jon Rambeau sold 5,528 shares of the company's stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $370.32, for a total value of $2,047,128.96. Following the transaction, the insider directly owned 7,660 shares in the company, valued at $2,836,651.20. This trade represents a 41.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 19,025 shares of company stock valued at $6,824,370. 0.68% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on LHX. JPMorgan Chase & Co. upped their price target on L3Harris Technologies from $340.00 to $395.00 and gave the company an "overweight" rating in a research report on Thursday, February 5th. Weiss Ratings upgraded L3Harris Technologies from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, December 29th. Vertical Research reiterated a "buy" rating and issued a $355.00 price target on shares of L3Harris Technologies in a research report on Tuesday, January 13th. UBS Group upped their price target on L3Harris Technologies to $323.00 and gave the company a "neutral" rating in a research report on Wednesday, January 14th. Finally, Royal Bank Of Canada upped their price target on L3Harris Technologies from $360.00 to $365.00 and gave the company a "sector perform" rating in a research report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, L3Harris Technologies currently has an average rating of "Moderate Buy" and a consensus target price of $349.55.

About L3Harris Technologies

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.

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