L3Harris Technologies, Inc. (NYSE:LHX) Shares Acquired by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. increased its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 3.9% during the 2nd quarter, Holdings Channel.com reports. The fund owned 24,667 shares of the company’s stock after purchasing an additional 937 shares during the quarter. Daiwa Securities Group Inc.’s holdings in L3Harris Technologies were worth $5,540,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Transcendent Capital Group LLC acquired a new stake in shares of L3Harris Technologies during the fourth quarter worth about $28,000. EntryPoint Capital LLC grew its stake in L3Harris Technologies by 70.4% during the 1st quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock worth $36,000 after buying an additional 69 shares during the last quarter. Versant Capital Management Inc increased its position in L3Harris Technologies by 77.7% during the second quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock worth $41,000 after buying an additional 80 shares during the period. Family Firm Inc. purchased a new stake in L3Harris Technologies in the second quarter valued at approximately $45,000. Finally, Sachetta LLC acquired a new stake in shares of L3Harris Technologies in the fourth quarter valued at approximately $49,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on LHX shares. Royal Bank of Canada cut shares of L3Harris Technologies from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $250.00 to $240.00 in a report on Wednesday, August 14th. Barclays upped their target price on shares of L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Wells Fargo & Company lowered their price target on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Morgan Stanley cut L3Harris Technologies from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $275.00 to $257.00 in a research report on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft lowered L3Harris Technologies from a “buy” rating to a “hold” rating and boosted their target price for the company from $245.00 to $257.00 in a report on Friday, July 26th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $247.08.

L3Harris Technologies Trading Down 0.4 %

NYSE:LHX opened at $227.01 on Thursday. L3Harris Technologies, Inc. has a 1 year low of $160.25 and a 1 year high of $245.60. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.74 and a current ratio of 0.90. The stock has a fifty day moving average price of $230.89 and a two-hundred day moving average price of $220.95. The stock has a market capitalization of $43.06 billion, a price-to-earnings ratio of 36.85, a PEG ratio of 1.88 and a beta of 0.73.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, July 25th. The company reported $3.24 earnings per share for the quarter, topping analysts’ consensus estimates of $3.18 by $0.06. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The business had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.30 billion. During the same period in the prior year, the company posted $2.97 EPS. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. As a group, sell-side analysts anticipate that L3Harris Technologies, Inc. will post 13.06 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be given a dividend of $1.16 per share. The ex-dividend date is Friday, September 6th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.04%. L3Harris Technologies’s payout ratio is 75.32%.

Insider Transactions at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $236.68, for a total value of $707,199.84. Following the completion of the transaction, the insider now directly owns 16,316 shares of the company’s stock, valued at approximately $3,861,670.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $236.68, for a total value of $707,199.84. Following the sale, the insider now directly owns 16,316 shares of the company’s stock, valued at approximately $3,861,670.88. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Sean J. Stackley sold 3,354 shares of L3Harris Technologies stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $218.00, for a total transaction of $731,172.00. Following the transaction, the vice president now owns 17,540 shares of the company’s stock, valued at approximately $3,823,720. The disclosure for this sale can be found here. Insiders have sold 36,110 shares of company stock valued at $8,319,939 in the last quarter. 0.82% of the stock is currently owned by corporate insiders.

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.