Resona Asset Management Co. Ltd. Sells 3,558 Shares of L3Harris Technologies Inc $LHX

Resona Asset Management Co. Ltd. decreased its stake in L3Harris Technologies Inc (NYSE:LHX) by 5.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 59,829 shares of the company’s stock after selling 3,558 shares during the period. Resona Asset Management Co. Ltd.’s holdings in L3Harris Technologies were worth $18,190,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. UniSuper Management Pty Ltd lifted its stake in L3Harris Technologies by 13.8% in the third quarter. UniSuper Management Pty Ltd now owns 17,537 shares of the company’s stock valued at $5,356,000 after purchasing an additional 2,127 shares during the last quarter. Parkside Financial Bank & Trust raised its stake in shares of L3Harris Technologies by 9.8% in the third quarter. Parkside Financial Bank & Trust now owns 718 shares of the company’s stock valued at $219,000 after buying an additional 64 shares during the period. iA Global Asset Management Inc. purchased a new position in shares of L3Harris Technologies during the 3rd quarter valued at $790,000. Naples Global Advisors LLC increased its holdings in L3Harris Technologies by 0.7% in the 3rd quarter. Naples Global Advisors LLC now owns 7,078 shares of the company’s stock worth $2,162,000 after acquiring an additional 52 shares during the last quarter. Finally, Wealth Dimensions Group Ltd. bought a new stake in L3Harris Technologies in the 3rd quarter valued at about $223,000. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies Stock Performance

Shares of LHX opened at $354.66 on Friday. L3Harris Technologies Inc has a 12-month low of $193.09 and a 12-month high of $361.59. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 0.56. The company has a market cap of $66.34 billion, a PE ratio of 38.09, a price-to-earnings-growth ratio of 2.20 and a beta of 0.66. The stock has a 50-day moving average price of $301.06 and a 200-day moving average price of $288.27.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, October 30th. The company reported $2.70 earnings per share for the quarter, beating analysts’ consensus estimates of $2.60 by $0.10. The business had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.51 billion. L3Harris Technologies had a net margin of 8.09% and a return on equity of 11.08%. L3Harris Technologies’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period last year, the firm posted $3.34 earnings per share. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. As a group, equities analysts forecast that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 1.4%. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.20. The ex-dividend date of this dividend is Friday, March 6th. L3Harris Technologies’s dividend payout ratio is presently 51.56%.

Insider Activity

In other news, CEO Christopher E. Kubasik sold 14,171 shares of the stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $301.05, for a total transaction of $4,266,179.55. Following the transaction, the chief executive officer directly owned 144,426 shares in the company, valued at approximately $43,479,447.30. This represents a 8.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

LHX has been the subject of several recent research reports. UBS Group lifted their target price on shares of L3Harris Technologies to $323.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of L3Harris Technologies in a report on Wednesday, October 8th. Citigroup increased their price objective on L3Harris Technologies from $331.00 to $389.00 and gave the stock a “buy” rating in a report on Tuesday, January 13th. Wall Street Zen lowered L3Harris Technologies from a “strong-buy” rating to a “buy” rating in a report on Sunday, January 11th. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of L3Harris Technologies in a report on Monday, January 12th. Fourteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $315.73.

L3Harris Technologies Profile

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.