Mirae Asset Global Investments Co. Ltd. Buys 54,465 Shares of L3Harris Technologies Inc $LHX

Mirae Asset Global Investments Co. Ltd. bought a new stake in L3Harris Technologies Inc (NYSE:LHX) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 54,465 shares of the company’s stock, valued at approximately $12,896,000.

A number of other large investors also recently made changes to their positions in LHX. SFE Investment Counsel lifted its position in shares of L3Harris Technologies by 33.6% during the 3rd quarter. SFE Investment Counsel now owns 31,772 shares of the company’s stock worth $7,523,000 after buying an additional 7,990 shares in the last quarter. ProShare Advisors LLC grew its holdings in shares of L3Harris Technologies by 14.4% in the third quarter. ProShare Advisors LLC now owns 32,679 shares of the company’s stock valued at $7,738,000 after acquiring an additional 4,123 shares in the last quarter. Vise Technologies Inc. grew its holdings in shares of L3Harris Technologies by 34.1% in the third quarter. Vise Technologies Inc. now owns 7,798 shares of the company’s stock valued at $1,846,000 after acquiring an additional 1,982 shares in the last quarter. Cidel Asset Management Inc. increased its position in shares of L3Harris Technologies by 4.9% during the third quarter. Cidel Asset Management Inc. now owns 1,785 shares of the company’s stock valued at $423,000 after acquiring an additional 83 shares during the last quarter. Finally, Petros Family Wealth LLC boosted its position in L3Harris Technologies by 9.5% in the third quarter. Petros Family Wealth LLC now owns 6,199 shares of the company’s stock worth $1,468,000 after purchasing an additional 539 shares during the last quarter. 84.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

LHX has been the subject of several research reports. Royal Bank Of Canada increased their price target on shares of L3Harris Technologies from $265.00 to $295.00 and gave the company a “sector perform” rating in a research report on Friday, October 30th. BNP Paribas Exane reduced their target price on L3Harris Technologies from $330.00 to $310.00 and set a “neutral” rating for the company in a report on Thursday, July 30th. TD Cowen decreased their target price on shares of L3Harris Technologies from $370.00 to $280.00 and set a “buy” rating on the stock in a report on Friday, October 9th. Wall Street Zen upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Sunday. Finally, Sanford C. Bernstein lowered their target price on shares of L3Harris Technologies from $346.00 to $318.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 14th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $345.60.

L3Harris Technologies Trading Down 0.7%

Shares of LHX opened at $277.12 on Wednesday. The firm’s 50 day simple moving average is $250.32 and its 200 day simple moving average is $304.42. The company has a market capitalization of $51.60 billion, a P/E ratio of 25.85, a P/E/G ratio of 1.68 and a beta of 0.47. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.20 and a quick ratio of 1.05. L3Harris Technologies Inc has a 1-year low of $232.34 and a 1-year high of $379.23.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, October 29th. The company reported $3.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.95 by $0.33. L3Harris Technologies had a net margin of 8.76% and a return on equity of 11.49%. The business had revenue of $6.07 billion during the quarter, compared to analyst estimates of $5.92 billion. During the same period in the previous year, the business posted $2.70 earnings per share. L3Harris Technologies’s revenue for the quarter was up 7.1% on a year-over-year basis. Sell-side analysts forecast that L3Harris Technologies Inc will post 12.32 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 Friday, December 18th. Stockholders of record on Friday, December 4th will be given a dividend of $1.25 per share. The ex-dividend date is Friday, December 4th. This represents a $5.00 annualized dividend and a dividend yield of 1.8%. L3Harris Technologies’s dividend payout ratio (DPR) is 46.64%.

About L3Harris Technologies

L3Harris Technologies, Inc is a technology and defense company that develops products and systems for government and commercial customers. Its offerings support aerospace, defense, space, communications, intelligence, surveillance and reconnaissance, electronic warfare, missile defense, and aviation missions.

The company provides secure communications equipment, tactical radios, sensors, avionics, electronic warfare systems, missile and air defense technologies, space payloads and systems, and other mission-critical solutions.