Daiwa Securities Group Inc. Increases Position in L3Harris Technologies, Inc. (NYSE:LHX)

Daiwa Securities Group Inc. lifted its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 81.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,857 shares of the company’s stock after acquiring an additional 15,154 shares during the quarter. Daiwa Securities Group Inc.’s holdings in L3Harris Technologies were worth $6,862,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Longview Partners Guernsey LTD acquired a new position in L3Harris Technologies in the fourth quarter valued at $864,584,000. Norges Bank acquired a new stake in shares of L3Harris Technologies during the fourth quarter worth about $372,443,000. Janus Henderson Group PLC boosted its stake in shares of L3Harris Technologies by 25.8% during the fourth quarter. Janus Henderson Group PLC now owns 8,301,442 shares of the company’s stock worth $1,569,118,000 after buying an additional 1,704,250 shares during the period. Truist Financial Corp lifted its position in L3Harris Technologies by 233.1% in the fourth quarter. Truist Financial Corp now owns 527,705 shares of the company’s stock valued at $99,747,000 after purchasing an additional 369,299 shares during the period. Finally, State of Wisconsin Investment Board lifted its position in L3Harris Technologies by 156.7% in the fourth quarter. State of Wisconsin Investment Board now owns 588,443 shares of the company’s stock valued at $111,227,000 after purchasing an additional 359,224 shares during the period. 80.58% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:LHX opened at $213.33 on Wednesday. The company has a quick ratio of 1.18, a current ratio of 1.37 and a debt-to-equity ratio of 0.29. L3Harris Technologies, Inc. has a fifty-two week low of $158.09 and a fifty-two week high of $221.49. The firm has a 50-day simple moving average of $208.15 and a 200 day simple moving average of $191.50. The company has a market cap of $43.73 billion, a PE ratio of 35.32, a P/E/G ratio of 0.96 and a beta of 0.80.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Friday, April 30th. The company reported $3.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.92 by $0.26. The firm had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.62 billion. L3Harris Technologies had a net margin of 7.18% and a return on equity of 11.29%. L3Harris Technologies’s revenue was down 1.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.80 EPS. As a group, research analysts forecast that L3Harris Technologies, Inc. will post 11.55 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 15th. Stockholders of record on Tuesday, June 1st will be paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend is Friday, May 28th. L3Harris Technologies’s dividend payout ratio is currently 40.48%.

A number of brokerages have issued reports on LHX. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $208.00 target price on shares of L3Harris Technologies in a report on Wednesday, April 14th. TheStreet cut shares of L3Harris Technologies from a “b” rating to a “c” rating in a research note on Friday, April 30th. Citigroup dropped their price objective on shares of L3Harris Technologies from $235.00 to $225.00 and set a “buy” rating for the company in a research note on Monday, February 1st. Benchmark reiterated a “hold” rating on shares of L3Harris Technologies in a report on Monday, May 3rd. Finally, Cowen reiterated a “buy” rating and issued a $210.00 price target on shares of L3Harris Technologies in a report on Friday, February 5th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $226.21.

L3Harris Technologies Company Profile

L3Harris Technologies, Inc, an aerospace and defense technology company, provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides multi-mission intelligence, surveillance, and reconnaissance (ISR) systems; and communication systems, as well as fleet management support, sensor development, modifications, and periodic depot maintenance services for ISR and airborne missions.

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Institutional Ownership by Quarter for L3Harris Technologies (NYSE:LHX)

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