L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. decreased its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 4.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 26,297 shares of the company’s stock after selling 1,360 shares during the period. Daiwa Securities Group Inc.’s holdings in L3Harris Technologies were worth $5,529,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bradley & Co. Private Wealth Management LLC bought a new position in shares of L3Harris Technologies during the fourth quarter valued at approximately $27,000. Archer Investment Corp grew its stake in L3Harris Technologies by 48.9% during the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after buying an additional 43 shares during the last quarter. Roxbury Financial LLC acquired a new stake in L3Harris Technologies in the fourth quarter worth $30,000. Union Bancaire Privee UBP SA bought a new stake in L3Harris Technologies in the fourth quarter valued at $33,000. Finally, New Millennium Group LLC boosted its holdings in shares of L3Harris Technologies by 776.2% during the fourth quarter. New Millennium Group LLC now owns 184 shares of the company’s stock valued at $39,000 after acquiring an additional 163 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $209.28 on Thursday. 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 firm has a 50-day moving average of $209.15 and a two-hundred day moving average of $227.28. The company has a market capitalization of $39.41 billion, a price-to-earnings ratio of 26.59, a PEG ratio of 2.42 and a beta of 0.74.

L3Harris Technologies (NYSE:LHX) last issued 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%. As a group, analysts expect that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The business 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 2.29%. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. The ex-dividend date is Monday, March 10th. L3Harris Technologies’s payout ratio is presently 60.99%.

Insider Transactions at L3Harris Technologies

In other news, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $226.00, for a total value of $718,228.00. Following the transaction, the insider now directly owns 2,797 shares of the company’s stock, valued at $632,122. This trade represents a 53.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Ross Niebergall sold 1,764 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $223.62, for a total transaction of $394,465.68. Following the completion of the sale, the insider now owns 8,576 shares of the company’s stock, valued at approximately $1,917,765.12. This trade represents a 17.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,862 shares of company stock valued at $2,155,054 over the last three months. Company insiders own 0.82% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on LHX shares. Wells Fargo & Company dropped their price objective on shares of L3Harris Technologies from $269.00 to $268.00 and set an “overweight” rating on the stock in a report on Friday, March 7th. Royal Bank of Canada restated a “sector perform” rating and issued a $240.00 price target on shares of L3Harris Technologies in a research note on Friday, January 31st. Susquehanna reduced their price objective on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. UBS Group raised their target price on L3Harris Technologies from $228.00 to $237.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Finally, Truist Financial reduced their price target on L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, L3Harris Technologies has an average rating of “Moderate Buy” and an average price target of $261.40.

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.