L3Harris Technologies, Inc. (NYSE:LHX) Stock Holdings Lifted by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 0.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 539,056 shares of the company’s stock after acquiring an additional 721 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in L3Harris Technologies were worth $128,225,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. First National Trust Co lifted its holdings in shares of L3Harris Technologies by 0.6% during the third quarter. First National Trust Co now owns 27,084 shares of the company’s stock valued at $6,442,000 after purchasing an additional 173 shares during the last quarter. Nations Financial Group Inc. IA ADV raised its holdings in L3Harris Technologies by 17.8% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 9,892 shares of the company’s stock worth $2,353,000 after buying an additional 1,493 shares during the period. Laffer Tengler Investments Inc. lifted its stake in L3Harris Technologies by 2.3% during the third quarter. Laffer Tengler Investments Inc. now owns 24,241 shares of the company’s stock valued at $5,766,000 after buying an additional 544 shares in the last quarter. Buckingham Capital Management Inc. boosted its holdings in shares of L3Harris Technologies by 0.6% in the third quarter. Buckingham Capital Management Inc. now owns 10,041 shares of the company’s stock worth $2,388,000 after buying an additional 63 shares during the period. Finally, GDS Wealth Management increased its position in shares of L3Harris Technologies by 4.5% in the third quarter. GDS Wealth Management now owns 76,701 shares of the company’s stock worth $18,245,000 after acquiring an additional 3,275 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $247.93, for a total transaction of $740,814.84. Following the transaction, the insider now owns 10,340 shares in the company, valued at $2,563,596.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In the last ninety days, insiders sold 8,964 shares of company stock worth $2,179,119. 0.82% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages recently commented on LHX. Bank of America upgraded shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and upped their price target for the company from $240.00 to $300.00 in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft decreased their target price on L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Wells Fargo & Company upped their price target on L3Harris Technologies from $260.00 to $295.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. Royal Bank of Canada raised their price objective on L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a research report on Monday, October 28th. Finally, Wolfe Research upgraded L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price on the stock in a report on Thursday, October 10th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $267.50.

L3Harris Technologies Stock Performance

LHX stock opened at $261.65 on Thursday. The firm has a 50 day moving average of $241.95 and a two-hundred day moving average of $231.48. L3Harris Technologies, Inc. has a 12 month low of $183.23 and a 12 month high of $265.74. The company has a market capitalization of $49.63 billion, a price-to-earnings ratio of 41.33, a P/E/G ratio of 2.18 and a beta of 0.72. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.27 by $0.07. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The firm had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.28 billion. During the same period in the prior year, the company posted $3.19 earnings per share. L3Harris Technologies’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, equities analysts anticipate that L3Harris Technologies, Inc. will post 13.09 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend is Monday, November 18th. L3Harris Technologies’s payout ratio is 73.30%.

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.