L3Harris Technologies Inc $LHX Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp lowered its position in L3Harris Technologies Inc (NYSE:LHX) by 5.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 86,613 shares of the company’s stock after selling 5,065 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in L3Harris Technologies were worth $26,452,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC increased its position in shares of L3Harris Technologies by 233.9% in the fourth quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock valued at $901,000 after buying an additional 3,001 shares in the last quarter. Moody Lynn & Lieberson LLC purchased a new position in L3Harris Technologies during the 2nd quarter valued at about $4,067,000. Independence Bank of Kentucky raised its position in L3Harris Technologies by 44.4% during the second quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock worth $33,000 after acquiring an additional 40 shares during the last quarter. V Square Quantitative Management LLC lifted its holdings in shares of L3Harris Technologies by 25.2% in the second quarter. V Square Quantitative Management LLC now owns 1,117 shares of the company’s stock valued at $280,000 after purchasing an additional 225 shares in the last quarter. Finally, GC Wealth Management RIA LLC grew its position in shares of L3Harris Technologies by 58.0% in the second quarter. GC Wealth Management RIA LLC now owns 2,128 shares of the company’s stock valued at $534,000 after purchasing an additional 781 shares during the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on LHX shares. Royal Bank Of Canada upped their target price on L3Harris Technologies from $315.00 to $360.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 14th. Vertical Research restated a “buy” rating and issued a $355.00 price objective on shares of L3Harris Technologies in a research report on Tuesday, January 13th. Wall Street Zen cut L3Harris Technologies from a “strong-buy” rating to a “buy” rating in a research report on Sunday, January 11th. UBS Group upped their target price on shares of L3Harris Technologies to $323.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. Finally, Susquehanna reiterated a “positive” rating on shares of L3Harris Technologies in a report on Thursday, January 15th. Fourteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $315.73.

L3Harris Technologies Stock Performance

L3Harris Technologies stock opened at $354.55 on Tuesday. The stock has a fifty day moving average price of $302.39 and a 200 day moving average price of $289.14. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 0.56. L3Harris Technologies Inc has a 52 week low of $193.09 and a 52 week high of $361.59. The firm has a market capitalization of $66.32 billion, a P/E ratio of 38.08, a PEG ratio of 2.22 and a beta of 0.66.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, October 30th. The company reported $2.70 EPS for the quarter, beating analysts’ consensus estimates of $2.60 by $0.10. The company had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.51 billion. L3Harris Technologies had a net margin of 8.09% and a return on equity of 11.08%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.34 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. Equities research analysts anticipate that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be issued a $1.25 dividend. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.20. The ex-dividend date is Friday, March 6th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.4%. L3Harris Technologies’s dividend payout ratio (DPR) is 51.56%.

Insider Activity

In other news, CEO Christopher E. Kubasik sold 14,171 shares of the company’s stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $301.05, for a total transaction of $4,266,179.55. Following the completion of the sale, the chief executive officer directly owned 144,426 shares in the company, valued at $43,479,447.30. This represents a 8.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.72% of the stock is owned by corporate insiders.

About L3Harris Technologies

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.