1,433 Shares in L3Harris Technologies Inc $LHX Bought by Meiji Yasuda Life Insurance Co

Meiji Yasuda Life Insurance Co acquired a new stake in L3Harris Technologies Inc (NYSE:LHX) during the 3rd quarter, Holdings Channel reports. The fund acquired 1,433 shares of the company’s stock, valued at approximately $438,000.

A number of other large investors have also recently added to or reduced their stakes in LHX. Caitlin John LLC acquired a new stake in shares of L3Harris Technologies in the 3rd quarter valued at about $28,000. GGM Financials LLC acquired a new stake in L3Harris Technologies in the 3rd quarter valued at approximately $32,000. Salomon & Ludwin LLC bought a new stake in L3Harris Technologies in the 3rd quarter valued at approximately $34,000. Twin Peaks Wealth Advisors LLC acquired a new position in L3Harris Technologies during the 2nd quarter worth approximately $34,000. Finally, Copia Wealth Management grew its stake in shares of L3Harris Technologies by 1,842.9% during the 3rd quarter. Copia Wealth Management now owns 136 shares of the company’s stock worth $42,000 after acquiring an additional 129 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on LHX shares. BNP Paribas Exane raised shares of L3Harris Technologies to a “hold” rating in a research report on Tuesday, November 18th. Argus raised shares of L3Harris Technologies to a “strong-buy” rating in a research report on Friday, February 27th. Sanford C. Bernstein restated an “outperform” rating on shares of L3Harris Technologies in a report on Friday, February 6th. Truist Financial set a $364.00 target price on L3Harris Technologies in a report on Wednesday, January 14th. Finally, Royal Bank Of Canada increased their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $328.57.

L3Harris Technologies Stock Up 1.6%

L3Harris Technologies stock opened at $365.83 on Monday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.19 and a quick ratio of 1.02. The company’s 50-day moving average is $342.52 and its 200-day moving average is $306.04. The firm has a market capitalization of $68.33 billion, a PE ratio of 42.89, a P/E/G ratio of 2.64 and a beta of 0.63. L3Harris Technologies Inc has a fifty-two week low of $195.72 and a fifty-two week high of $379.23.

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

L3Harris Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be given a $1.25 dividend. The ex-dividend date of this dividend is Friday, March 6th. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.20. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.4%. L3Harris Technologies’s payout ratio is 58.62%.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, insider Samir Mehta sold 5,528 shares of the firm’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $370.32, for a total transaction of $2,047,128.96. Following the completion of the sale, the insider owned 7,756 shares of the company’s stock, valued at $2,872,201.92. This trade represents a 41.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jon Rambeau sold 5,528 shares of the company’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $370.32, for a total transaction of $2,047,128.96. Following the completion of the transaction, the insider owned 7,660 shares in the company, valued at approximately $2,836,651.20. This represents a 41.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 19,025 shares of company stock worth $6,824,370. 0.72% of the stock is owned by company 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.