L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. decreased its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 1.6% during the 1st quarter, Holdings Channel.com reports. The firm owned 576,280 shares of the company’s stock after selling 9,282 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in L3Harris Technologies were worth $122,805,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Transcendent Capital Group LLC bought a new stake in L3Harris Technologies in the fourth quarter worth about $28,000. KB Financial Partners LLC raised its holdings in shares of L3Harris Technologies by 96.5% in the 3rd quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock worth $29,000 after purchasing an additional 82 shares in the last quarter. Blue Trust Inc. lifted its stake in L3Harris Technologies by 178.7% during 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 last quarter. Washington Trust Advisors Inc. boosted its holdings in L3Harris Technologies by 80.6% during the fourth quarter. Washington Trust Advisors Inc. now owns 177 shares of the company’s stock worth $37,000 after buying an additional 79 shares in the last quarter. Finally, Bruce G. Allen Investments LLC acquired a new position in L3Harris Technologies in the fourth quarter worth approximately $46,000. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies Stock Up 0.5 %

Shares of NYSE LHX traded up $1.05 during mid-day trading on Wednesday, reaching $224.65. The company had a trading volume of 97,801 shares, compared to its average volume of 1,003,454. The stock has a market capitalization of $42.61 billion, a PE ratio of 36.49, a price-to-earnings-growth ratio of 1.88 and a beta of 0.72. L3Harris Technologies, Inc. has a twelve month low of $160.25 and a twelve month high of $228.13. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.80 and a current ratio of 0.98. The stock’s 50 day moving average is $220.29 and its 200-day moving average is $213.05.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data 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 firm had revenue of $5.21 billion for the quarter, compared to analyst estimates of $5.11 billion. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter last year, the firm earned $2.86 earnings per share. As a group, equities analysts anticipate that L3Harris Technologies, Inc. will post 12.93 earnings per share 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 given 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 of this dividend was Tuesday, June 4th. L3Harris Technologies’s dividend payout ratio is 75.32%.

Analyst Ratings Changes

LHX has been the subject of a number of recent research reports. Royal Bank of Canada increased their price objective on L3Harris Technologies from $245.00 to $250.00 and gave the company an “outperform” rating in a research report on Monday, April 29th. 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. Wells Fargo & Company lifted their price target on L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 7th. JPMorgan Chase & Co. upped their price objective on shares of L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Finally, Barclays lifted their target price on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 30th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $231.80.

Insider Buying and Selling

In other news, VP Sean J. Stackley sold 3,354 shares of the firm’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $216.73, for a total value of $726,912.42. Following the sale, the vice president now directly owns 14,186 shares of the company’s stock, valued at $3,074,531.78. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other L3Harris Technologies news, VP Sean J. Stackley sold 3,354 shares of the firm’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 directly owns 14,186 shares in the company, valued at approximately $3,074,531.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Christopher E. Kubasik sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $222.45, for a total value of $5,561,250.00. Following the completion of the transaction, the chief executive officer now directly owns 120,326 shares of the company’s stock, valued at approximately $26,766,518.70. The disclosure for this sale can be found here. Insiders have sold 82,898 shares of company stock worth $18,558,167 in the last quarter. 0.87% of the stock is currently owned by company insiders.

L3Harris Technologies Company 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.