Sumitomo Mitsui DS Asset Management Company Ltd Buys 398 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in L3Harris Technologies, Inc. (NYSE:LHX) by 2.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,543 shares of the company’s stock after acquiring an additional 398 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in L3Harris Technologies were worth $4,649,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. NBC Securities Inc. raised its position in shares of L3Harris Technologies by 33.5% in the first quarter. NBC Securities Inc. now owns 566 shares of the company’s stock worth $121,000 after buying an additional 142 shares in the last quarter. Mather Group LLC. purchased a new stake in shares of L3Harris Technologies in the 1st quarter valued at about $123,000. Park Avenue Securities LLC grew its holdings in shares of L3Harris Technologies by 20.9% during the first quarter. Park Avenue Securities LLC now owns 4,878 shares of the company’s stock worth $1,040,000 after purchasing an additional 843 shares in the last quarter. RFG Advisory LLC purchased a new position in shares of L3Harris Technologies during the first quarter worth about $293,000. Finally, &PARTNERS bought a new position in shares of L3Harris Technologies in the first quarter worth approximately $299,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $248.78 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.74 and a current ratio of 0.90. L3Harris Technologies, Inc. has a fifty-two week low of $169.55 and a fifty-two week high of $249.16. The business has a 50 day moving average price of $235.12 and a 200-day moving average price of $225.96. The firm has a market cap of $47.19 billion, a PE ratio of 40.39, a price-to-earnings-growth ratio of 2.08 and a beta of 0.73.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, July 25th. The company reported $3.24 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $5.30 billion. During the same quarter in the prior year, the company posted $2.97 EPS. The firm’s revenue for the quarter was up 12.9% compared to the same quarter last year. Equities research analysts predict that L3Harris Technologies, Inc. will post 13.06 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be issued a dividend of $1.16 per share. The ex-dividend date is Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a yield of 1.87%. L3Harris Technologies’s dividend payout ratio is presently 75.32%.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total value of $731,103.84. Following the sale, the insider now directly owns 13,328 shares in the company, valued at approximately $3,261,095.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.82% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft dropped their target price on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Citigroup lifted their price objective on shares of L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Royal Bank of Canada cut L3Harris Technologies from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $250.00 to $240.00 in a research note on Wednesday, August 14th. Wolfe Research upgraded L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target on the stock in a research report on Thursday, October 10th. Finally, Barclays upped their price objective on L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, L3Harris Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $256.71.

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.