National Pension Service Has $142.02 Million Stock Holdings in L3Harris Technologies Inc $LHX

Key Points

• The National Pension Service increased its stake in L3Harris Technologies Inc by 12.0%, acquiring an additional 72,447 shares to own a total of 678,494 shares valued at $142 million.
• Several institutional investors have also significantly increased their stakes in L3Harris Technologies, with Nuveen LLC purchasing a new stake worth approximately $299 million.
• L3Harris Technologies recently announced a quarterly dividend of $1.20, representing a 1.8% dividend yield, with the record date set for September 5th.

National Pension Service grew its stake in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 12.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 678,494 shares of the company's stock after acquiring an additional 72,447 shares during the period. National Pension Service owned 0.36% of L3Harris Technologies worth $142,016,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Resona Asset Management Co. Ltd. raised its stake in shares of L3Harris Technologies by 10.3% in the first quarter. Resona Asset Management Co. Ltd. now owns 60,200 shares of the company's stock worth $12,587,000 after acquiring an additional 5,599 shares during the last quarter. Public Sector Pension Investment Board lifted its stake in L3Harris Technologies by 7.2% in the first quarter. Public Sector Pension Investment Board now owns 25,435 shares of the company's stock valued at $5,324,000 after buying an additional 1,706 shares in the last quarter. AIA Group Ltd bought a new position in L3Harris Technologies in the first quarter valued at approximately $505,000. Longfellow Investment Management Co. LLC lifted its stake in L3Harris Technologies by 53.1% in the first quarter. Longfellow Investment Management Co. LLC now owns 3,063 shares of the company's stock valued at $641,000 after buying an additional 1,062 shares in the last quarter. Finally, Cypress Capital Group lifted its stake in L3Harris Technologies by 11.7% in the first quarter. Cypress Capital Group now owns 9,475 shares of the company's stock valued at $1,983,000 after buying an additional 990 shares in the last quarter. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies Stock Performance

Shares of NYSE:LHX traded up $1.52 on Monday, hitting $272.07. The company had a trading volume of 1,108,303 shares, compared to its average volume of 1,440,889. L3Harris Technologies Inc has a 1-year low of $193.09 and a 1-year high of $280.52. The stock has a market cap of $50.90 billion, a price-to-earnings ratio of 30.40, a P/E/G ratio of 1.98 and a beta of 0.77. The stock has a 50 day moving average price of $260.99 and a 200 day moving average price of $231.84. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The company reported $2.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.48 by $0.30. The firm had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.31 billion. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The business's revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the prior year, the company posted $3.24 earnings per share. Analysts expect that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Stockholders of record on Friday, September 5th will be paid 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 (DPR) is presently 53.63%.

Insider Buying and Selling

In related news, CEO Christopher E. Kubasik sold 40,138 shares of the company's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $269.52, for a total transaction of $10,817,993.76. Following the completion of the transaction, the chief executive officer directly owned 145,578 shares in the company, valued at $39,236,182.56. This represents a 21.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 sale, the insider directly owned 25,325 shares in the company, valued at approximately $6,204,625. The trade was a 7.32% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 147,199 shares of company stock worth $39,045,071. 0.72% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Royal Bank Of Canada lifted their price target on shares of L3Harris Technologies from $265.00 to $280.00 and gave the company a "sector perform" rating in a research note on Friday, July 25th. Citigroup boosted their price objective on shares of L3Harris Technologies from $300.00 to $323.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. UBS Group boosted their price objective on shares of L3Harris Technologies from $262.00 to $280.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. Truist Financial boosted their price objective on shares of L3Harris Technologies from $279.00 to $302.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Finally, Susquehanna boosted their price objective on shares of L3Harris Technologies from $300.00 to $320.00 and gave the stock a "positive" rating in a research report on Friday, July 25th. Six 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, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $279.47.

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.