L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp lessened its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 2.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 91,804 shares of the company’s stock after selling 2,010 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in L3Harris Technologies were worth $19,305,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Raymond James Financial Inc. acquired a new position in shares of L3Harris Technologies in the 4th quarter worth approximately $398,507,000. Vanguard Group Inc. lifted its stake in L3Harris Technologies by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company’s stock worth $4,895,534,000 after purchasing an additional 401,168 shares in the last quarter. Boston Partners boosted its position in shares of L3Harris Technologies by 20.2% during the fourth quarter. Boston Partners now owns 1,178,741 shares of the company’s stock worth $247,893,000 after buying an additional 198,243 shares during the period. National Pension Service grew its stake in shares of L3Harris Technologies by 42.1% in the fourth quarter. National Pension Service now owns 606,047 shares of the company’s stock valued at $127,440,000 after buying an additional 179,539 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of L3Harris Technologies by 29.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock valued at $184,245,000 after buying an additional 178,407 shares during the period. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on LHX shares. Bank of America lowered their price objective on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a research note on Tuesday, February 4th. UBS Group boosted their price target on shares of L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Raymond James cut L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Morgan Stanley cut their price target on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Finally, Susquehanna decreased their price objective on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $261.40.

L3Harris Technologies Stock Up 0.4 %

Shares of L3Harris Technologies stock opened at $212.86 on Friday. L3Harris Technologies, Inc. has a twelve month low of $193.09 and a twelve month high of $265.74. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. The business’s 50 day simple moving average is $209.55 and its 200-day simple moving average is $225.69. The stock has a market capitalization of $39.96 billion, a price-to-earnings ratio of 27.05, a PEG ratio of 2.42 and a beta of 0.74.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, January 30th. The company reported $3.47 EPS for the quarter, topping the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. Equities research analysts forecast that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were paid a dividend of $1.20 per share. The ex-dividend date was Monday, March 10th. This represents a $4.80 annualized dividend and a yield of 2.25%. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.16. L3Harris Technologies’s payout ratio is presently 60.99%.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Jon Rambeau sold 3,178 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $226.00, for a total transaction of $718,228.00. Following the sale, the insider now directly owns 2,797 shares in the company, valued at approximately $632,122. The trade was a 53.19 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ross Niebergall sold 1,373 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $210.06, for a total transaction of $288,412.38. Following the completion of the transaction, the insider now owns 5,049 shares of the company’s stock, valued at $1,060,592.94. This trade represents a 21.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,334 shares of company stock worth $1,383,709. 0.72% of the stock is owned by company insiders.

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.