Mitsubishi UFJ Asset Management Co. Ltd. Boosts Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 11.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 309,651 shares of the company’s stock after buying an additional 30,812 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.16% of L3Harris Technologies worth $64,949,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of LHX. Millstone Evans Group LLC bought a new stake in L3Harris Technologies in the fourth quarter worth $26,000. Bradley & Co. Private Wealth Management LLC purchased a new position in L3Harris Technologies in the fourth quarter worth about $27,000. Roxbury Financial LLC bought a new stake in L3Harris Technologies during the fourth quarter worth approximately $30,000. Union Bancaire Privee UBP SA purchased a new stake in L3Harris Technologies during the fourth quarter valued at approximately $33,000. Finally, New Millennium Group LLC lifted its stake in shares of L3Harris Technologies by 776.2% in the 4th quarter. New Millennium Group LLC now owns 184 shares of the company’s stock valued at $39,000 after purchasing an additional 163 shares during the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 1,373 shares of L3Harris Technologies stock in a transaction on Monday, December 30th. The stock was 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. The trade was a 21.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Edward J. Zoiss sold 1,783 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $211.48, for a total transaction of $377,068.84. Following the completion of the sale, the insider now owns 30,620 shares in the company, valued at approximately $6,475,517.60. This trade represents a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,334 shares of company stock valued at $1,383,709 over the last ninety days. Insiders own 0.72% of the company’s stock.

L3Harris Technologies Stock Down 2.5 %

LHX opened at $207.46 on Friday. The company has a fifty day moving average of $209.34 and a two-hundred day moving average of $225.54. The stock has a market capitalization of $38.94 billion, a price-to-earnings ratio of 26.36, a PEG ratio of 2.42 and a beta of 0.74. L3Harris Technologies, Inc. has a fifty-two week low of $193.09 and a fifty-two week high of $265.74. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08.

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

L3Harris Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were issued a dividend of $1.20 per share. The ex-dividend date was Monday, March 10th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.31%. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. L3Harris Technologies’s dividend payout ratio is presently 60.99%.

Analysts Set New Price Targets

Several analysts recently weighed in on LHX shares. Truist Financial decreased their price target on L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a report on Friday, January 31st. 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 report on Tuesday, February 4th. UBS Group upped their target price on L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Royal Bank of Canada reissued a “sector perform” rating and set a $240.00 price objective on shares of L3Harris Technologies in a report on Friday, January 31st. Finally, Sanford C. Bernstein raised shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and cut their price objective for the stock from $289.00 to $267.00 in a research report on Wednesday, January 8th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price 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.