Sumitomo Mitsui DS Asset Management Company Ltd Has $4.65 Million Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 2.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 19,543 shares of the company’s stock after buying an additional 398 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in L3Harris Technologies were worth $4,649,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of LHX. Vanguard Group Inc. raised its holdings in shares of L3Harris Technologies by 12.9% during the first quarter. Vanguard Group Inc. now owns 22,792,779 shares of the company’s stock valued at $4,857,141,000 after purchasing an additional 2,606,267 shares during the period. Price T Rowe Associates Inc. MD increased its position in L3Harris Technologies by 0.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,631,207 shares of the company’s stock valued at $2,052,411,000 after buying an additional 45,845 shares in the last quarter. Bank of New York Mellon Corp raised its stake in L3Harris Technologies by 19.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,174,181 shares of the company’s stock worth $712,858,000 after buying an additional 523,315 shares during the period. Diamond Hill Capital Management Inc. boosted its holdings in L3Harris Technologies by 2.2% in the second quarter. Diamond Hill Capital Management Inc. now owns 1,489,129 shares of the company’s stock worth $334,429,000 after acquiring an additional 31,686 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in L3Harris Technologies by 0.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,456,451 shares of the company’s stock valued at $327,090,000 after acquiring an additional 9,036 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Activity

In related news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $244.68, for a total value of $731,103.84. Following the completion of the transaction, the insider now directly owns 13,328 shares of the company’s stock, valued at approximately $3,261,095.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.82% of the company’s stock.

L3Harris Technologies Price Performance

L3Harris Technologies stock opened at $248.78 on Friday. The business’s 50 day simple moving average is $235.12 and its 200 day simple moving average is $225.96. L3Harris Technologies, Inc. has a 12 month low of $169.55 and a 12 month high of $249.16. The company has a market cap of $47.19 billion, a price-to-earnings ratio of 40.39, a PEG ratio of 2.08 and a beta of 0.73. The company has a current ratio of 0.90, a quick ratio of 0.74 and a debt-to-equity ratio of 0.56.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, July 25th. The company reported $3.24 EPS for the quarter, beating analysts’ consensus estimates of $3.18 by $0.06. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The firm had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.30 billion. During the same quarter in the prior year, the firm earned $2.97 EPS. The business’s revenue for the quarter was up 12.9% compared to the same quarter last year. Sell-side analysts forecast that L3Harris Technologies, Inc. will post 13.06 EPS for the current year.

L3Harris Technologies Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on LHX. Citigroup increased their target price on L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. Wells Fargo & Company lowered their target price on shares of L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Barclays lifted their price target on L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Finally, Morgan Stanley lowered L3Harris Technologies from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $275.00 to $257.00 in a report on Friday, August 9th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $256.71.

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.