SBI Securities Co. Ltd. Acquires New Position in L3Harris Technologies, Inc. (NYSE:LHX)

SBI Securities Co. Ltd. purchased a new position in shares of L3Harris Technologies, Inc. (NYSE:LHX) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 630 shares of the company’s stock, valued at approximately $132,000.

Several other institutional investors also recently modified their holdings of LHX. National Pension Service increased its holdings in shares of L3Harris Technologies by 42.1% during the fourth quarter. National Pension Service now owns 606,047 shares of the company’s stock worth $127,440,000 after buying an additional 179,539 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of L3Harris Technologies by 29.9% during the third quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock worth $184,245,000 after buying an additional 178,407 shares in the last quarter. Mizuho Markets Americas LLC increased its holdings in shares of L3Harris Technologies by 25.3% during the third quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company’s stock worth $195,704,000 after buying an additional 166,262 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of L3Harris Technologies during the fourth quarter worth $25,071,000. Finally, Rockefeller Capital Management L.P. increased its holdings in shares of L3Harris Technologies by 156.2% during the third quarter. Rockefeller Capital Management L.P. now owns 148,236 shares of the company’s stock worth $35,259,000 after buying an additional 90,370 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Price Performance

LHX stock opened at $220.47 on Friday. The stock has a market capitalization of $41.52 billion, a PE ratio of 28.01, a price-to-earnings-growth ratio of 2.42 and a beta of 0.74. The company’s 50-day moving average is $208.94 and its 200-day moving average is $227.66. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. L3Harris Technologies, Inc. has a 1 year low of $193.09 and a 1 year high of $265.74.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, topping analysts’ consensus estimates 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 expect that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date is Monday, March 10th. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.16. L3Harris Technologies’s dividend payout ratio is currently 60.99%.

Insider Buying and Selling

In related news, insider Ross Niebergall sold 1,373 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $210.06, for a total value of $288,412.38. Following the sale, the insider now owns 5,049 shares in the company, valued at $1,060,592.94. This represents a 21.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 4,901 shares of company stock worth $1,059,757 in the last quarter. Insiders own 0.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on LHX shares. Morgan Stanley decreased their price objective on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Wells Fargo & Company cut their price target on shares of L3Harris Technologies from $269.00 to $268.00 and set an “overweight” rating on the stock in a research report on Friday. Argus raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price target on the stock in a research report on Tuesday, November 26th. JPMorgan Chase & Co. cut their price target on shares of L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Finally, Bank of America cut their price target on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. Five equities 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, the stock currently has an average rating of “Moderate Buy” and an average price target of $261.40.

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.