Mitsubishi UFJ Trust & Banking Corp Has $18.62 Million Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Mitsubishi UFJ Trust & Banking Corp lowered its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHXFree Report) by 4.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 106,909 shares of the company’s stock after selling 5,036 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.06% of L3Harris Technologies worth $18,615,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. American International Group Inc. increased its stake in shares of L3Harris Technologies by 0.4% in the 2nd quarter. American International Group Inc. now owns 50,168 shares of the company’s stock valued at $9,821,000 after acquiring an additional 194 shares in the last quarter. Kentucky Retirement Systems bought a new stake in L3Harris Technologies in the third quarter valued at $2,642,000. GDS Wealth Management raised its holdings in shares of L3Harris Technologies by 184.5% during the third quarter. GDS Wealth Management now owns 90,123 shares of the company’s stock valued at $15,692,000 after purchasing an additional 58,441 shares during the period. Ceredex Value Advisors LLC grew its stake in shares of L3Harris Technologies by 14.1% in the 3rd quarter. Ceredex Value Advisors LLC now owns 673,757 shares of the company’s stock valued at $117,315,000 after buying an additional 83,319 shares during the period. Finally, Strong Tower Advisory Services increased its position in L3Harris Technologies by 2.8% in the 3rd quarter. Strong Tower Advisory Services now owns 5,314 shares of the company’s stock valued at $925,000 after buying an additional 147 shares in the last quarter. 81.33% of the stock is currently owned by institutional investors.

L3Harris Technologies Price Performance

Shares of NYSE:LHX opened at $211.26 on Tuesday. The company has a 50-day moving average price of $206.66 and a two-hundred day moving average price of $189.13. L3Harris Technologies, Inc. has a twelve month low of $160.25 and a twelve month high of $219.31. The company has a quick ratio of 0.82, a current ratio of 1.01 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $40.04 billion, a PE ratio of 32.80, a P/E/G ratio of 2.46 and a beta of 0.66.

L3Harris Technologies (NYSE:LHXGet Free Report) last released its quarterly earnings data on Friday, January 26th. The company reported $3.35 earnings per share for the quarter, beating analysts’ consensus estimates of $3.31 by $0.04. The business had revenue of $5.34 billion during the quarter, compared to analyst estimates of $5.28 billion. L3Harris Technologies had a net margin of 6.32% and a return on equity of 12.68%. L3Harris Technologies’s revenue was up 16.6% compared to the same quarter last year. During the same period in the previous year, the business earned $3.27 EPS. Equities analysts forecast that L3Harris Technologies, Inc. will post 12.74 EPS for the current year.

Insider Activity at L3Harris Technologies

In other news, insider Edward J. Zoiss sold 4,742 shares of the stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $190.00, for a total value of $900,980.00. Following the sale, the insider now directly owns 27,183 shares of the company’s stock, valued at $5,164,770. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.82% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have issued reports on LHX shares. UBS Group increased their price target on L3Harris Technologies from $222.00 to $229.00 and gave the stock a “neutral” rating in a report on Monday, January 29th. JPMorgan Chase & Co. upgraded shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 price objective on the stock in a report on Thursday, January 11th. Wells Fargo & Company decreased their target price on shares of L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating for the company in a research report on Tuesday, January 30th. Robert W. Baird raised L3Harris Technologies from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $198.00 to $216.00 in a report on Tuesday, October 31st. Finally, StockNews.com lowered L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Monday, January 29th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $225.29.

Check Out Our Latest Report on L3Harris Technologies

About L3Harris Technologies

(Free Report)

L3Harris Technologies, Inc, an aerospace and defense technology company, provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides multi-mission intelligence, surveillance, and reconnaissance (ISR) systems; and communication systems, as well as fleet management support, sensor development, modification, and periodic depot maintenance services for ISR and airborne missions.

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Institutional Ownership by Quarter for L3Harris Technologies (NYSE:LHX)

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