Sumitomo Mitsui Trust Holdings Inc. Has $122.81 Million Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Sumitomo Mitsui Trust Holdings Inc. lessened its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 1.6% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 576,280 shares of the company’s stock after selling 9,282 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.30% of L3Harris Technologies worth $122,805,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of LHX. Strong Tower Advisory Services boosted its holdings in L3Harris Technologies by 0.9% during the 4th quarter. Strong Tower Advisory Services now owns 5,363 shares of the company’s stock worth $1,130,000 after acquiring an additional 49 shares during the last quarter. Blossom Wealth Management boosted its holdings in L3Harris Technologies by 2.1% during the fourth quarter. Blossom Wealth Management now owns 2,465 shares of the company’s stock worth $519,000 after purchasing an additional 51 shares during the last quarter. JFS Wealth Advisors LLC grew its position in L3Harris Technologies by 12.2% in the 4th quarter. JFS Wealth Advisors LLC now owns 488 shares of the company’s stock worth $103,000 after purchasing an additional 53 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in L3Harris Technologies by 13.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 504 shares of the company’s stock valued at $106,000 after buying an additional 58 shares during the last quarter. Finally, Twin Lakes Capital Management LLC lifted its position in shares of L3Harris Technologies by 0.4% during the 3rd quarter. Twin Lakes Capital Management LLC now owns 14,695 shares of the company’s stock worth $2,559,000 after buying an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Analyst Ratings Changes

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

Insider Activity

In related news, VP Sean J. Stackley sold 3,354 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $218.00, for a total transaction of $731,172.00. Following the sale, the vice president now owns 17,540 shares of the company’s stock, valued at approximately $3,823,720. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Christopher E. Kubasik sold 25,000 shares of L3Harris Technologies stock in a transaction on Friday, May 31st. The stock was sold at an average price of $222.45, for a total transaction of $5,561,250.00. Following the completion of the sale, the chief executive officer now owns 120,326 shares of the company’s stock, valued at $26,766,518.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Sean J. Stackley sold 3,354 shares of the company’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $218.00, for a total value of $731,172.00. Following the completion of the transaction, the vice president now owns 17,540 shares in the company, valued at $3,823,720. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 82,898 shares of company stock worth $18,558,167. 0.87% of the stock is owned by company insiders.

L3Harris Technologies Stock Performance

L3Harris Technologies stock traded up $1.05 during mid-day trading on Wednesday, reaching $224.65. The company’s stock had a trading volume of 97,801 shares, compared to its average volume of 1,003,454. The firm’s fifty day moving average price is $220.29 and its two-hundred day moving average price is $213.05. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.80 and a current ratio of 0.98. L3Harris Technologies, Inc. has a 12-month low of $160.25 and a 12-month high of $228.13. The company has a market capitalization of $42.61 billion, a P/E ratio of 36.49, a PEG ratio of 1.88 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, April 25th. The company reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.89 by $0.17. The company 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 period in the previous year, the business earned $2.86 earnings per share. Sell-side analysts predict that L3Harris Technologies, Inc. will post 12.93 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th were issued a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date was Tuesday, June 4th. L3Harris Technologies’s payout ratio is 75.32%.

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.