Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 13.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 351,521 shares of the company's stock after acquiring an additional 41,870 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.19% of L3Harris Technologies worth $73,577,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Clearstead Trust LLC acquired a new stake in shares of L3Harris Technologies during the 1st quarter worth about $26,000. Beacon Capital Management LLC lifted its position in L3Harris Technologies by 79.5% during the first quarter. Beacon Capital Management LLC now owns 131 shares of the company's stock worth $27,000 after acquiring an additional 58 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of L3Harris Technologies by 336.4% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company's stock worth $30,000 after acquiring an additional 111 shares during the period. Park Square Financial Group LLC acquired a new position in shares of L3Harris Technologies in the fourth quarter valued at approximately $37,000. Finally, Cornerstone Planning Group LLC increased its stake in shares of L3Harris Technologies by 323.3% during the first quarter. Cornerstone Planning Group LLC now owns 182 shares of the company's stock worth $39,000 after purchasing an additional 139 shares during the period. Institutional investors own 84.76% of the company's stock.
L3Harris Technologies Stock Down 1.5%
Shares of NYSE LHX traded down $4.12 during midday trading on Friday, hitting $269.69. 1,639,160 shares of the stock traded hands, compared to its average volume of 1,441,700. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04. The business has a 50 day moving average price of $258.25 and a two-hundred day moving average price of $229.92. The company has a market cap of $50.46 billion, a PE ratio of 30.13, a P/E/G ratio of 1.97 and a beta of 0.77. L3Harris Technologies Inc has a one year low of $193.09 and a one year high of $280.52.
L3Harris Technologies (NYSE:LHX - Get Free Report) last released its earnings results on Thursday, July 24th. The company reported $2.78 earnings per share for the quarter, beating analysts' consensus estimates of $2.48 by $0.30. The firm had revenue of $5.43 billion for the quarter, compared to analysts' expectations of $5.31 billion. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The company's quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the company earned $3.24 earnings per share. On average, equities analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current year.
L3Harris Technologies Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 22nd. Stockholders of record on Friday, September 5th will be issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Friday, September 5th. L3Harris Technologies's dividend payout ratio is presently 53.63%.
Insider Transactions at L3Harris Technologies
In related news, insider Edward J. Zoiss sold 2,000 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $245.00, for a total value of $490,000.00. Following the completion of the transaction, the insider directly owned 25,325 shares of the company's stock, valued at $6,204,625. This represents a 7.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Christopher E. Kubasik sold 72,000 shares of the business's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $271.14, for a total value of $19,522,080.00. Following the completion of the sale, the chief executive officer directly owned 145,578 shares in the company, valued at approximately $39,472,018.92. This represents a 33.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 107,061 shares of company stock valued at $28,227,077 over the last quarter. Company insiders own 0.72% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on the company. Susquehanna lifted their target price on L3Harris Technologies from $300.00 to $320.00 and gave the stock a "positive" rating in a report on Friday, July 25th. Truist Financial lifted their price objective on shares of L3Harris Technologies from $279.00 to $302.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. UBS Group boosted their price objective on shares of L3Harris Technologies from $262.00 to $280.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Citigroup raised their target price on shares of L3Harris Technologies from $300.00 to $323.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Finally, Royal Bank Of Canada boosted their price target on L3Harris Technologies from $265.00 to $280.00 and gave the company a "sector perform" rating in a research note on Friday, July 25th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $279.47.
View Our Latest Research Report on LHX
L3Harris Technologies Company Profile
(
Free Report)
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.
Featured Articles

Before you consider L3Harris Technologies, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and L3Harris Technologies wasn't on the list.
While L3Harris Technologies currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.