Nomura Asset Management Co. Ltd. Boosts Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Nomura Asset Management Co. Ltd. boosted its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 0.5% in the 4th quarter, HoldingsChannel reports. The fund owned 56,181 shares of the company’s stock after acquiring an additional 280 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in L3Harris Technologies were worth $11,814,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of LHX. Vanguard Group Inc. raised its holdings in L3Harris Technologies by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company’s stock worth $4,895,534,000 after purchasing an additional 401,168 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of L3Harris Technologies by 1.3% during the third quarter. Geode Capital Management LLC now owns 4,734,832 shares of the company’s stock valued at $1,122,630,000 after buying an additional 59,008 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of L3Harris Technologies during the fourth quarter worth $398,507,000. Charles Schwab Investment Management Inc. grew its holdings in L3Harris Technologies by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,210,107 shares of the company’s stock valued at $254,461,000 after buying an additional 32,979 shares during the period. Finally, Boston Partners grew its holdings in L3Harris Technologies by 20.2% in the fourth quarter. Boston Partners now owns 1,178,741 shares of the company’s stock valued at $247,893,000 after purchasing an additional 198,243 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on LHX shares. Deutsche Bank Aktiengesellschaft lowered their price target on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a research report on Thursday, January 2nd. UBS Group boosted their price objective on shares of L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $240.00 target price on shares of L3Harris Technologies in a research report on Friday, January 31st. Raymond James cut shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Finally, Susquehanna reduced their price objective on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, L3Harris Technologies has an average rating of “Moderate Buy” and a consensus price target of $261.40.

Insiders Place Their Bets

In related news, insider Edward J. Zoiss sold 1,783 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $211.48, for a total value of $377,068.84. Following the sale, the insider now directly owns 30,620 shares in the company, valued at $6,475,517.60. The trade was a 5.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jon Rambeau sold 3,178 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $226.00, for a total transaction of $718,228.00. Following the sale, the insider now owns 2,797 shares of the company’s stock, valued at $632,122. The trade was a 53.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is owned by company insiders.

L3Harris Technologies Stock Performance

LHX stock opened at $207.46 on Monday. The company has a market capitalization of $38.94 billion, a P/E ratio of 26.36, a PEG ratio of 2.42 and a beta of 0.74. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The company has a 50-day simple moving average of $209.34 and a 200 day simple moving average of $225.51. L3Harris Technologies, Inc. has a fifty-two week low of $193.09 and a fifty-two week high of $265.74.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, January 30th. The company reported $3.47 EPS for the quarter, beating analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. Sell-side analysts predict that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were issued a dividend of $1.20 per share. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.16. This represents a $4.80 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend was Monday, March 10th. L3Harris Technologies’s payout ratio is presently 60.99%.

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.