L3Harris Technologies, Inc. (NYSE:LHX) Shares Acquired by Tokio Marine Asset Management Co. Ltd.

Tokio Marine Asset Management Co. Ltd. grew its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 7.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,438 shares of the company’s stock after purchasing an additional 292 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in L3Harris Technologies were worth $935,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. KB Financial Partners LLC increased its holdings in shares of L3Harris Technologies by 96.5% in the third quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock valued at $29,000 after purchasing an additional 82 shares during the period. Blue Trust Inc. grew its holdings in L3Harris Technologies by 178.7% during the fourth quarter. Blue Trust Inc. now owns 170 shares of the company’s stock worth $36,000 after acquiring an additional 109 shares during the period. Washington Trust Advisors Inc. grew its holdings in L3Harris Technologies by 80.6% during the fourth quarter. Washington Trust Advisors Inc. now owns 177 shares of the company’s stock worth $37,000 after acquiring an additional 79 shares during the period. New England Capital Financial Advisors LLC acquired a new position in L3Harris Technologies during the third quarter worth $35,000. Finally, Bruce G. Allen Investments LLC acquired a new position in L3Harris Technologies during the fourth quarter worth $46,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Activity

In other L3Harris Technologies news, Director William H. Swanson bought 1,250 shares of L3Harris Technologies stock in a transaction that occurred on Thursday, March 14th. The shares were purchased at an average cost of $215.35 per share, for a total transaction of $269,187.50. Following the completion of the transaction, the director now owns 1,543 shares of the company’s stock, valued at approximately $332,285.05. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other L3Harris Technologies news, Director William H. Swanson bought 1,250 shares of L3Harris Technologies stock in a transaction that occurred on Thursday, March 14th. The shares were purchased at an average cost of $215.35 per share, for a total transaction of $269,187.50. Following the completion of the transaction, the director now owns 1,543 shares of the company’s stock, valued at approximately $332,285.05. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christopher E. Kubasik sold 40,000 shares of the stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $212.22, for a total value of $8,488,800.00. Following the transaction, the chief executive officer now owns 116,175 shares in the company, valued at $24,654,658.50. The disclosure for this sale can be found here. Insiders have sold 48,362 shares of company stock worth $10,261,360 over the last three months. 0.82% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

LHX has been the topic of a number of recent analyst reports. Alembic Global Advisors raised L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price objective on the stock in a report on Monday, April 22nd. Royal Bank of Canada upped their price objective on L3Harris Technologies from $235.00 to $245.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. StockNews.com lowered L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Monday, January 29th. Wells Fargo & Company dropped their price objective on L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating on the stock in a report on Tuesday, January 30th. Finally, Citigroup upped their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $229.60.

L3Harris Technologies Stock Up 3.5 %

Shares of NYSE:LHX opened at $214.54 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.01 and a debt-to-equity ratio of 0.59. L3Harris Technologies, Inc. has a 52-week low of $160.25 and a 52-week high of $218.34. The stock’s fifty day simple moving average is $210.16 and its 200-day simple moving average is $201.28. The company has a market capitalization of $40.79 billion, a P/E ratio of 34.83, a P/E/G ratio of 1.93 and a beta of 0.65.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, April 25th. The company reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.89 by $0.17. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The business had revenue of $5.21 billion for the quarter, compared to the consensus estimate of $5.11 billion. During the same period in the prior year, the business earned $2.86 earnings per share. The business’s revenue was up 16.6% on a year-over-year basis. As a group, equities research analysts forecast that L3Harris Technologies, Inc. will post 12.73 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be given a $1.16 dividend. The ex-dividend date is Friday, May 31st. This represents a $4.64 annualized dividend and a dividend yield of 2.16%. L3Harris Technologies’s dividend payout ratio is currently 75.32%.

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.