Sumitomo Mitsui Trust Group Inc. Has $200.60 Million Position in L3Harris Technologies Inc $LHX

Sumitomo Mitsui Trust Group Inc. grew its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 2.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 581,188 shares of the company’s stock after buying an additional 13,674 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in L3Harris Technologies were worth $200,597,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Fideuram Asset Management Ireland dac acquired a new position in L3Harris Technologies in the 4th quarter valued at approximately $25,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of L3Harris Technologies during the fourth quarter worth $25,000. Motiv8 Investments LLC bought a new stake in shares of L3Harris Technologies in the fourth quarter worth $25,000. American National Bank & Trust increased its holdings in L3Harris Technologies by 44.8% in the fourth quarter. American National Bank & Trust now owns 97 shares of the company’s stock valued at $28,000 after purchasing an additional 30 shares during the period. Finally, Abound Financial LLC acquired a new stake in L3Harris Technologies in the fourth quarter valued at $29,000. 84.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

LHX has been the topic of several recent research reports. Truist Financial raised L3Harris Technologies to a “strong-buy” rating in a report on Friday, May 1st. UBS Group decreased their target price on L3Harris Technologies from $362.00 to $330.00 and set a “neutral” rating for the company in a research note on Friday, May 1st. Weiss Ratings downgraded shares of L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, June 23rd. Sanford C. Bernstein decreased their price objective on L3Harris Technologies to $405.00 and set an “outperform” rating for the company in a report on Monday, May 4th. Finally, Wall Street Zen upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Saturday, April 11th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $354.75.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, VP Melanie Rakita sold 2,180 shares of the firm’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $310.45, for a total value of $676,781.00. Following the completion of the transaction, the vice president directly owned 4,192 shares of the company’s stock, valued at $1,301,406.40. This trade represents a 34.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.68% of the stock is owned by corporate insiders.

L3Harris Technologies Stock Down 1.4%

Shares of NYSE LHX opened at $289.44 on Friday. The stock has a market capitalization of $53.92 billion, a PE ratio of 31.43, a P/E/G ratio of 1.48 and a beta of 0.51. L3Harris Technologies Inc has a one year low of $256.51 and a one year high of $379.23. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.03 and a quick ratio of 0.89. The business’s fifty day moving average price is $303.58 and its 200-day moving average price is $329.52.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, April 30th. The company reported $2.72 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.19. The firm had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.42 billion. L3Harris Technologies had a net margin of 7.71% and a return on equity of 10.65%. The company’s revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the company earned $2.41 earnings per share. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. On average, equities research analysts anticipate that L3Harris Technologies Inc will post 11.52 EPS for the current year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 5th were given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Friday, June 5th. L3Harris Technologies’s dividend payout ratio (DPR) is 54.29%.

About L3Harris Technologies

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.