Mitsubishi UFJ Asset Management Co. Ltd. Boosts Stock Position in L3Harris Technologies Inc $LHX

Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in L3Harris Technologies Inc (NYSE:LHX) by 5.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 394,908 shares of the company’s stock after purchasing an additional 21,968 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.21% of L3Harris Technologies worth $120,609,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its stake in shares of L3Harris Technologies by 233.9% during 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 during the period. Oppenheimer Asset Management Inc. grew its stake in L3Harris Technologies by 46.2% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 6,470 shares of the company’s stock worth $1,623,000 after acquiring an additional 2,045 shares during the period. Wealthfront Advisers LLC raised its holdings in L3Harris Technologies by 29.7% in the 2nd quarter. Wealthfront Advisers LLC now owns 11,255 shares of the company’s stock valued at $2,823,000 after acquiring an additional 2,579 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in L3Harris Technologies in the 2nd quarter valued at $1,087,000. Finally, Advisory Alpha LLC lifted its stake in shares of L3Harris Technologies by 13.1% during the 2nd quarter. Advisory Alpha LLC now owns 1,160 shares of the company’s stock worth $291,000 after purchasing an additional 134 shares during the period. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at L3Harris Technologies

In related news, insider Samir Mehta sold 4,840 shares of the stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $338.85, for a total value of $1,640,034.00. Following the completion of the sale, the insider directly owned 5,916 shares in the company, valued at approximately $2,004,636.60. This represents a 45.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.72% of the company’s stock.

L3Harris Technologies Stock Up 4.2%

LHX opened at $355.24 on Friday. L3Harris Technologies Inc has a 1 year low of $195.72 and a 1 year high of $369.59. The firm has a 50 day moving average price of $333.89 and a 200 day moving average price of $301.55. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.19. The company has a market cap of $66.35 billion, a PE ratio of 41.65, a price-to-earnings-growth ratio of 2.46 and a beta of 0.64.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, beating analysts’ consensus estimates of $2.76 by $0.10. L3Harris Technologies had a net margin of 7.35% and a return on equity of 10.43%. The firm had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.76 billion. During the same period in the previous year, the company posted $3.47 earnings per share. L3Harris Technologies’s revenue was up 2.3% compared to the same quarter last year. Sell-side analysts expect that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be given a dividend of $1.25 per share. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.20. The ex-dividend date of this dividend is Friday, March 6th. This represents a $5.00 dividend on an annualized basis and a yield of 1.4%. L3Harris Technologies’s dividend payout ratio is currently 56.27%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Royal Bank Of Canada lifted their price objective on L3Harris Technologies from $360.00 to $365.00 and gave the company a “sector perform” rating in a research report on Friday, January 30th. Vertical Research reissued a “buy” rating and issued a $355.00 price target on shares of L3Harris Technologies in a research note on Tuesday, January 13th. TD Cowen reaffirmed a “buy” rating on shares of L3Harris Technologies in a research note on Monday, January 5th. UBS Group increased their price objective on shares of L3Harris Technologies to $323.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of L3Harris Technologies in a research report on Friday, February 6th. Fifteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $328.57.

L3Harris Technologies Company Profile

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.