L3Harris (NYSE:LHX) Stake Increased by Mitsubishi UFJ Kokusai Asset Management Co. Ltd.

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in L3Harris (NYSE:LHX) by 3.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,896 shares of the company’s stock after buying an additional 1,721 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in L3Harris were worth $8,987,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of LHX. Clarius Group LLC acquired a new position in L3Harris during the fourth quarter valued at $203,000. Landsberg Bennett & Dubbaneh LLC purchased a new position in L3Harris during the 4th quarter valued at about $528,000. Advisor Partners LLC increased its holdings in shares of L3Harris by 21.6% in the 4th quarter. Advisor Partners LLC now owns 11,101 shares of the company’s stock valued at $2,366,000 after purchasing an additional 1,969 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of L3Harris by 3.8% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,890 shares of the company’s stock worth $2,946,000 after purchasing an additional 549 shares in the last quarter. Finally, Bourne Lent Asset Management Inc. boosted its holdings in shares of L3Harris by 111.1% during the fourth quarter. Bourne Lent Asset Management Inc. now owns 4,750 shares of the company’s stock worth $940,000 after purchasing an additional 2,500 shares during the period. Institutional investors and hedge funds own 84.80% of the company’s stock.

Shares of NYSE LHX traded down $3.67 during mid-day trading on Friday, hitting $180.45. The company had a trading volume of 1,084,672 shares, compared to its average volume of 1,330,704. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.41 and a quick ratio of 1.21. The business’s 50-day simple moving average is $186.73 and its 200-day simple moving average is $198.97. L3Harris has a 12 month low of $142.01 and a 12 month high of $230.99. The firm has a market cap of $39.75 billion, a P/E ratio of 26.30 and a beta of 0.77.

L3Harris (NYSE:LHX) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.61 by $0.19. L3Harris had a return on equity of 13.20% and a net margin of 8.30%. The firm had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.60 billion. During the same period in the previous year, the company posted $2.32 earnings per share. The company’s quarterly revenue was up 167.7% compared to the same quarter last year. As a group, sell-side analysts predict that L3Harris will post 11.31 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 16th. Investors of record on Tuesday, June 2nd will be paid a $0.85 dividend. The ex-dividend date is Monday, June 1st. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.88%. L3Harris’s payout ratio is 33.73%.

A number of research firms have issued reports on LHX. Cfra lifted their target price on shares of L3Harris from $235.00 to $248.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. Seaport Global Securities initiated coverage on L3Harris in a research report on Tuesday. They set a “buy” rating and a $225.00 price objective for the company. Royal Bank of Canada assumed coverage on L3Harris in a research note on Wednesday. They issued an “outperform” rating and a $219.00 target price on the stock. Argus raised their price target on L3Harris from $230.00 to $255.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Finally, Robert W. Baird boosted their price target on L3Harris from $245.00 to $260.00 and gave the company an “outperform” rating in a research note on Wednesday, February 5th. Three analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $239.80.

L3Harris Company Profile

L3Harris Technologies, Inc provides technology-based solutions that solve government and commercial customers' mission-critical challenges in the United States and internationally. The company operates in three segments: Communication Systems, Electronic Systems, and Space and Intelligence Systems.

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Institutional Ownership by Quarter for L3Harris (NYSE:LHX)

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