L3Harris Technologies, Inc. (NYSE:LHX) Stake Reduced by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp decreased its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 2.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 91,804 shares of the company’s stock after selling 2,010 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in L3Harris Technologies were worth $19,305,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Meiji Yasuda Asset Management Co Ltd. boosted its holdings in L3Harris Technologies by 5.9% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 7,072 shares of the company’s stock worth $1,487,000 after buying an additional 397 shares in the last quarter. Zions Bancorporation N.A. boosted its stake in shares of L3Harris Technologies by 47.1% during the 4th quarter. Zions Bancorporation N.A. now owns 3,165 shares of the company’s stock worth $666,000 after acquiring an additional 1,013 shares in the last quarter. TIAA Trust National Association grew its holdings in shares of L3Harris Technologies by 4.8% in the 4th quarter. TIAA Trust National Association now owns 3,899 shares of the company’s stock worth $820,000 after acquiring an additional 177 shares during the last quarter. CoreFirst Bank & Trust purchased a new stake in shares of L3Harris Technologies during the fourth quarter valued at $42,000. Finally, Prudential Financial Inc. lifted its holdings in shares of L3Harris Technologies by 13.5% during the fourth quarter. Prudential Financial Inc. now owns 601,871 shares of the company’s stock valued at $126,561,000 after purchasing an additional 71,425 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on LHX shares. JPMorgan Chase & Co. cut their price objective on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Sanford C. Bernstein upgraded shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and reduced their price target for the company from $289.00 to $267.00 in a research report on Wednesday, January 8th. Barclays lowered their price objective on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Citigroup reduced their target price on L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating for the company in a report on Monday, February 10th. Finally, Susquehanna reduced their price target on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $261.40.

Insider Buying and Selling

In related news, insider Jon Rambeau sold 3,178 shares of the business’s 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 completion of the transaction, the insider now owns 2,797 shares of the company’s stock, valued at approximately $632,122. The trade was a 53.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Edward J. Zoiss sold 1,783 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $211.48, for a total value of $377,068.84. Following the completion of the sale, the insider now directly owns 30,620 shares in the company, valued at $6,475,517.60. This trade represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 6,334 shares of company stock valued at $1,383,709. Company insiders own 0.72% of the company’s stock.

L3Harris Technologies Stock Up 0.4 %

LHX stock opened at $212.86 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. The firm has a market cap of $39.96 billion, a PE ratio of 27.05, a PEG ratio of 2.42 and a beta of 0.74. L3Harris Technologies, Inc. has a 1 year low of $193.09 and a 1 year high of $265.74. The company has a fifty day simple moving average of $209.55 and a 200 day simple moving average of $225.69.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. Sell-side analysts anticipate that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.25%. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. The ex-dividend date was Monday, March 10th. L3Harris Technologies’s payout ratio is presently 60.99%.

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.