Daiwa Securities Group Inc. Increases Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Daiwa Securities Group Inc. increased its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHXFree Report) by 12.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,730 shares of the company’s stock after purchasing an additional 2,543 shares during the period. Daiwa Securities Group Inc.’s holdings in L3Harris Technologies were worth $5,057,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Lido Advisors LLC boosted its stake in shares of L3Harris Technologies by 5.1% during the 3rd quarter. Lido Advisors LLC now owns 2,632 shares of the company’s stock valued at $458,000 after buying an additional 127 shares during the last quarter. Sei Investments Co. grew its position in shares of L3Harris Technologies by 13.5% in the 3rd quarter. Sei Investments Co. now owns 157,493 shares of the company’s stock worth $27,422,000 after acquiring an additional 18,682 shares in the last quarter. Scotia Capital Inc. raised its position in shares of L3Harris Technologies by 36.0% during the 3rd quarter. Scotia Capital Inc. now owns 9,780 shares of the company’s stock valued at $1,703,000 after acquiring an additional 2,591 shares in the last quarter. Royal London Asset Management Ltd. raised its position in shares of L3Harris Technologies by 3.4% during the 3rd quarter. Royal London Asset Management Ltd. now owns 78,615 shares of the company’s stock valued at $13,692,000 after acquiring an additional 2,565 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in L3Harris Technologies by 56.4% in the third quarter. The Manufacturers Life Insurance Company now owns 260,731 shares of the company’s stock worth $45,398,000 after buying an additional 93,999 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 25,000 shares of L3Harris Technologies stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $225.11, for a total value of $5,627,750.00. Following the transaction, the chief executive officer now owns 120,326 shares in the company, valued at approximately $27,086,585.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other L3Harris Technologies news, VP Sean J. Stackley sold 3,354 shares of the business’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $216.73, for a total value of $726,912.42. Following the sale, the vice president now owns 14,186 shares of the company’s stock, valued at approximately $3,074,531.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Christopher E. Kubasik sold 25,000 shares of L3Harris Technologies stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $225.11, for a total transaction of $5,627,750.00. Following the sale, the chief executive officer now owns 120,326 shares in the company, valued at $27,086,585.86. The disclosure for this sale can be found here. Insiders have sold a total of 82,898 shares of company stock worth $18,558,167 over the last 90 days. Insiders own 0.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on LHX shares. JPMorgan Chase & Co. raised their target price on L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Royal Bank of Canada lifted their target price on shares of L3Harris Technologies from $245.00 to $250.00 and gave the stock an “outperform” rating in a research report on Monday, April 29th. Barclays upped their price target on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research report on Tuesday, April 30th. Alembic Global Advisors upgraded shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price objective on the stock in a research report on Monday, April 22nd. Finally, Wells Fargo & Company increased their target price on L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a report on Tuesday, May 7th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $231.80.

Get Our Latest Report on L3Harris Technologies

L3Harris Technologies Stock Down 0.3 %

NYSE LHX traded down $0.69 on Tuesday, reaching $225.31. The stock had a trading volume of 43,318 shares, compared to its average volume of 991,807. The company has a current ratio of 0.98, a quick ratio of 0.80 and a debt-to-equity ratio of 0.59. L3Harris Technologies, Inc. has a 1 year low of $160.25 and a 1 year high of $228.13. The business has a 50 day moving average price of $221.34 and a 200 day moving average price of $213.51. The company has a market capitalization of $42.74 billion, a price-to-earnings ratio of 36.55, a P/E/G ratio of 1.87 and a beta of 0.72.

L3Harris Technologies (NYSE:LHXGet Free Report) last announced its quarterly earnings results on Thursday, April 25th. The company reported $3.06 EPS for the quarter, beating the consensus estimate of $2.89 by $0.17. The business had revenue of $5.21 billion during the quarter, compared to analysts’ expectations of $5.11 billion. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The firm’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.86 EPS. On average, analysts forecast that L3Harris Technologies, Inc. will post 12.96 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th were issued a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend was Tuesday, June 4th. L3Harris Technologies’s dividend payout ratio is 75.32%.

L3Harris Technologies Company Profile

(Free Report)

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.

See Also

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

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