Daiwa Securities Group Inc. Grows Position in L3Harris Technologies, Inc. (NYSE:LHX)

Daiwa Securities Group Inc. grew its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 7.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 21,187 shares of the company’s stock after buying an additional 1,540 shares during the period. Daiwa Securities Group Inc.’s holdings in L3Harris Technologies were worth $4,463,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Eagle Bay Advisors LLC purchased a new position in L3Harris Technologies during the second quarter worth $30,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of L3Harris Technologies in the first quarter valued at $27,000. First Capital Advisors Group LLC. purchased a new stake in shares of L3Harris Technologies in the second quarter valued at $29,000. KB Financial Partners LLC grew its position in shares of L3Harris Technologies by 96.5% in the third quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock valued at $29,000 after purchasing an additional 82 shares during the period. Finally, Blue Trust Inc. grew its position in shares of L3Harris Technologies by 178.7% in the fourth quarter. Blue Trust Inc. now owns 170 shares of the company’s stock valued at $36,000 after purchasing an additional 109 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Buying and Selling

In related news, CEO Christopher E. Kubasik sold 40,000 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $212.22, for a total value of $8,488,800.00. Following the transaction, the chief executive officer now owns 116,175 shares in the company, valued at $24,654,658.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Christopher E. Kubasik sold 40,000 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the sale, the chief executive officer now directly owns 116,175 shares in the company, valued at approximately $24,654,658.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Edward J. Zoiss sold 3,707 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $211.47, for a total value of $783,919.29. Following the sale, the insider now owns 28,644 shares in the company, valued at $6,057,346.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 48,362 shares of company stock worth $10,261,360. 0.82% of the stock is currently owned by corporate insiders.

L3Harris Technologies Trading Up 1.7 %

Shares of LHX opened at $205.45 on Friday. The stock’s 50-day moving average is $210.30 and its two-hundred day moving average is $199.84. The stock has a market cap of $39.06 billion, a PE ratio of 31.90, a P/E/G ratio of 1.88 and a beta of 0.65. L3Harris Technologies, Inc. has a 12 month low of $160.25 and a 12 month high of $218.34. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.82.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Friday, January 26th. The company reported $3.35 EPS for the quarter, topping the consensus estimate of $3.31 by $0.04. L3Harris Technologies had a return on equity of 12.68% and a net margin of 6.32%. The business had revenue of $5.34 billion for the quarter, compared to analysts’ expectations of $5.28 billion. During the same quarter in the previous year, the firm posted $3.27 earnings per share. The company’s revenue was up 16.6% compared to the same quarter last year. Equities analysts forecast that L3Harris Technologies, Inc. will post 12.73 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be paid a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 2.26%. L3Harris Technologies’s dividend payout ratio (DPR) is 72.05%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on LHX. StockNews.com downgraded L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. Citigroup lifted their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the company a “buy” rating in a research report on Tuesday, February 13th. Wells Fargo & Company lowered their price objective on L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating for the company in a research report on Tuesday, January 30th. Raymond James boosted their price target on L3Harris Technologies from $220.00 to $235.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. Finally, Royal Bank of Canada boosted their price target on L3Harris Technologies from $235.00 to $245.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, L3Harris Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $229.00.

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.