Meiji Yasuda Asset Management Co Ltd. Grows Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Meiji Yasuda Asset Management Co Ltd. raised its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 5.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,072 shares of the company’s stock after buying an additional 397 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in L3Harris Technologies were worth $1,487,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of LHX. Vanguard Group Inc. increased its stake in L3Harris Technologies by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company’s stock valued at $4,895,534,000 after purchasing an additional 401,168 shares in the last quarter. Geode Capital Management LLC increased its position in shares of L3Harris Technologies by 1.3% in the third quarter. Geode Capital Management LLC now owns 4,734,832 shares of the company’s stock valued at $1,122,630,000 after buying an additional 59,008 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of L3Harris Technologies during the 4th quarter worth $398,507,000. Charles Schwab Investment Management Inc. boosted its position in shares of L3Harris Technologies by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,210,107 shares of the company’s stock worth $254,461,000 after buying an additional 32,979 shares in the last quarter. Finally, Boston Partners grew its stake in L3Harris Technologies by 20.2% in the 4th quarter. Boston Partners now owns 1,178,741 shares of the company’s stock valued at $247,893,000 after acquiring an additional 198,243 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at L3Harris Technologies

In related news, insider Edward J. Zoiss sold 1,783 shares of the stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $211.48, for a total value of $377,068.84. Following the completion of the transaction, the insider now owns 30,620 shares of the company’s stock, valued at approximately $6,475,517.60. This represents a 5.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jon Rambeau sold 3,178 shares of the firm’s 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 sale, the insider now owns 2,797 shares of the company’s stock, valued at approximately $632,122. This trade represents a 53.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,334 shares of company stock valued at $1,383,709 in the last ninety days. Insiders own 0.72% of the company’s stock.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $211.97 on Thursday. 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. The company has a market capitalization of $39.79 billion, a price-to-earnings ratio of 26.93, a PEG ratio of 2.42 and a beta of 0.74. The business has a 50-day moving average of $209.66 and a 200-day moving average of $225.78.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, beating 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%. On average, equities analysts anticipate that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were issued a $1.20 dividend. The ex-dividend date was Monday, March 10th. This represents a $4.80 dividend on an annualized basis and a yield of 2.26%. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.16. L3Harris Technologies’s payout ratio is currently 60.99%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on LHX. Morgan Stanley cut their target price on shares of L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Truist Financial lowered their target price on L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a report on Friday, January 31st. JPMorgan Chase & Co. cut their price objective on shares of L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Deutsche Bank Aktiengesellschaft dropped their target price on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a research note on Thursday, January 2nd. Finally, UBS Group upped their price target on shares of L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus 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.