Mubadala Investment Co PJSC Takes Position in L3Harris Technologies, Inc. (NYSE:LHX)

Mubadala Investment Co PJSC acquired a new stake in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 15,780 shares of the company's stock, valued at approximately $3,318,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. grew its position in L3Harris Technologies by 234.3% during the fourth quarter. Meeder Asset Management Inc. now owns 117 shares of the company's stock valued at $25,000 after purchasing an additional 82 shares in the last quarter. Millstone Evans Group LLC bought a new stake in L3Harris Technologies in the fourth quarter worth approximately $26,000. Bradley & Co. Private Wealth Management LLC bought a new stake in L3Harris Technologies in the fourth quarter worth approximately $27,000. Roxbury Financial LLC bought a new stake in L3Harris Technologies in the fourth quarter worth approximately $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC grew its position in L3Harris Technologies by 336.4% in 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 in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Edward J. Zoiss sold 1,783 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $211.48, for a total transaction of $377,068.84. Following the sale, the insider now owns 30,620 shares of the company's stock, valued at $6,475,517.60. This represents a 5.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jon Rambeau sold 3,178 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $226.00, for a total transaction of $718,228.00. Following the sale, the insider now directly owns 2,797 shares in the company, valued at approximately $632,122. This represents a 53.19% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.72% of the company's stock.

L3Harris Technologies Stock Down 0.2%

LHX opened at $218.92 on Tuesday. The firm's 50-day simple moving average is $214.09 and its 200-day simple moving average is $219.79. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. L3Harris Technologies, Inc. has a twelve month low of $193.09 and a twelve month high of $265.74. The firm has a market cap of $40.93 billion, a price-to-earnings ratio of 27.82, a PEG ratio of 2.42 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The company reported $2.41 EPS for the quarter, topping analysts' consensus estimates of $2.32 by $0.09. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. The firm had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.29 billion. During the same quarter in the prior year, the firm earned $3.06 EPS. The company's revenue was down 1.5% on a year-over-year basis. Equities research analysts anticipate that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date is Tuesday, June 3rd. L3Harris Technologies's dividend payout ratio is currently 56.94%.

Analysts Set New Price Targets

Several analysts have commented on LHX shares. UBS Group boosted their target price on shares of L3Harris Technologies from $222.00 to $226.00 and gave the stock a "neutral" rating in a research report on Monday, April 28th. Bank of America decreased their price objective on shares of L3Harris Technologies from $300.00 to $265.00 and set a "buy" rating for the company in a report on Tuesday, February 4th. Citigroup decreased their price objective on shares of L3Harris Technologies from $285.00 to $245.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Morgan Stanley cut their target price on shares of L3Harris Technologies from $260.00 to $250.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 4th. Finally, Royal Bank of Canada restated a "sector perform" rating and issued a $240.00 price objective on shares of L3Harris Technologies in a research note on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $256.56.

L3Harris Technologies Profile

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.

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