Mitsubishi UFJ Asset Management Co. Ltd. Buys 22,133 Shares of L3Harris Technologies Inc $LHX

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 5.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 417,041 shares of the company's stock after acquiring an additional 22,133 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.22% of L3Harris Technologies worth $126,981,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Victory Capital Management Inc. lifted its position in shares of L3Harris Technologies by 1,053.9% during the third quarter. Victory Capital Management Inc. now owns 1,181,900 shares of the company's stock worth $360,964,000 after purchasing an additional 1,079,474 shares in the last quarter. Artisan Partners Limited Partnership acquired a new stake in L3Harris Technologies in the third quarter worth $211,703,000. Two Sigma Investments LP raised its holdings in L3Harris Technologies by 560.7% in the third quarter. Two Sigma Investments LP now owns 614,287 shares of the company's stock worth $187,609,000 after purchasing an additional 521,312 shares during the period. M&T Bank Corp raised its holdings in L3Harris Technologies by 3,127.8% in the fourth quarter. M&T Bank Corp now owns 408,740 shares of the company's stock worth $119,994,000 after purchasing an additional 396,077 shares during the period. Finally, Balyasny Asset Management L.P. raised its holdings in L3Harris Technologies by 42.0% in the third quarter. Balyasny Asset Management L.P. now owns 1,101,285 shares of the company's stock worth $336,343,000 after purchasing an additional 325,963 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

LHX has been the topic of several analyst reports. Argus upgraded shares of L3Harris Technologies to a "strong-buy" rating in a report on Friday, February 27th. Wall Street Zen upgraded shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a report on Saturday, April 11th. Morgan Stanley increased their target price on shares of L3Harris Technologies from $367.00 to $390.00 and gave the stock an "overweight" rating in a report on Monday, February 2nd. UBS Group lowered their price objective on shares of L3Harris Technologies from $362.00 to $330.00 and set a "neutral" rating for the company in a research report on Friday, May 1st. Finally, Citigroup increased their price objective on shares of L3Harris Technologies from $389.00 to $418.00 and gave the stock a "buy" rating in a research report on Thursday, February 5th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, L3Harris Technologies presently has an average rating of "Moderate Buy" and an average target price of $354.75.

Insider Activity at L3Harris Technologies

In related news, insider Samir Mehta sold 5,528 shares of the firm'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 completion of the transaction, the insider owned 7,756 shares of the company's stock, valued at approximately $2,872,201.92. This trade represents a 41.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Melanie Rakita sold 2,378 shares of the firm's stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $341.45, for a total transaction of $811,968.10. Following the completion of the transaction, the vice president directly owned 4,882 shares of the company's stock, valued at approximately $1,666,958.90. This trade represents a 32.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 16,365 shares of company stock valued at $5,861,117. Corporate insiders own 0.68% of the company's stock.

L3Harris Technologies Stock Up 0.1%

Shares of LHX stock opened at $302.85 on Thursday. The firm has a fifty day moving average of $350.09 and a 200-day moving average of $323.94. The company has a quick ratio of 0.89, a current ratio of 1.03 and a debt-to-equity ratio of 0.47. L3Harris Technologies Inc has a 12-month low of $214.10 and a 12-month high of $379.23. The company has a market capitalization of $56.42 billion, a price-to-earnings ratio of 32.88, a P/E/G ratio of 1.53 and a beta of 0.51.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.19. The company had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.42 billion. L3Harris Technologies had a net margin of 7.71% and a return on equity of 10.65%. The firm's revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.41 earnings per share. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. As a group, equities research analysts predict that L3Harris Technologies Inc will post 11.54 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be given a $1.25 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $5.00 dividend on an annualized basis and a yield of 1.7%. L3Harris Technologies's dividend payout ratio (DPR) is 54.29%.

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.

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