Toroso Investments LLC increased its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX – Free Report) by 2.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,043 shares of the company’s stock after buying an additional 371 shares during the period. Toroso Investments LLC’s holdings in L3Harris Technologies were worth $2,952,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the business. 3Chopt Investment Partners LLC acquired a new stake in L3Harris Technologies during the 1st quarter worth approximately $370,000. Putnam Investments LLC acquired a new stake in L3Harris Technologies during the 1st quarter worth approximately $364,000. Ameriprise Financial Inc. boosted its position in L3Harris Technologies by 3.0% during the 1st quarter. Ameriprise Financial Inc. now owns 949,030 shares of the company’s stock worth $185,609,000 after buying an additional 27,252 shares during the period. Advisory Services Network LLC lifted its position in shares of L3Harris Technologies by 0.9% in the 1st quarter. Advisory Services Network LLC now owns 6,236 shares of the company’s stock worth $1,224,000 after purchasing an additional 54 shares during the period. Finally, Rockefeller Capital Management L.P. lifted its position in shares of L3Harris Technologies by 2.7% in the 1st quarter. Rockefeller Capital Management L.P. now owns 44,199 shares of the company’s stock worth $8,673,000 after purchasing an additional 1,155 shares during the period. 81.33% of the stock is currently owned by institutional investors and hedge funds.
L3Harris Technologies Stock Performance
Shares of LHX stock opened at $171.58 on Friday. The firm has a market capitalization of $32.45 billion, a PE ratio of 40.85, a price-to-earnings-growth ratio of 4.57 and a beta of 0.72. The firm has a fifty day simple moving average of $185.67 and a two-hundred day simple moving average of $191.28. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.42. L3Harris Technologies, Inc. has a 12 month low of $167.14 and a 12 month high of $255.10.
L3Harris Technologies Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 19th. Stockholders of record on Tuesday, September 5th will be paid a $1.14 dividend. The ex-dividend date of this dividend is Friday, September 1st. This represents a $4.56 annualized dividend and a dividend yield of 2.66%. L3Harris Technologies’s payout ratio is 108.57%.
Wall Street Analyst Weigh In
LHX has been the topic of a number of recent analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $240.00 price target on shares of L3Harris Technologies in a research report on Friday, August 18th. Bank of America dropped their price target on shares of L3Harris Technologies from $230.00 to $210.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 2nd. The Goldman Sachs Group boosted their price target on shares of L3Harris Technologies from $162.00 to $164.00 in a research report on Friday, August 11th. Citigroup initiated coverage on shares of L3Harris Technologies in a research report on Monday. They issued a “buy” rating and a $193.00 price target on the stock. Finally, Jefferies Financial Group dropped their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating on the stock in a research report on Monday, July 31st. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, L3Harris Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $229.00.
Read Our Latest Research Report on L3Harris Technologies
Insider Transactions at L3Harris Technologies
In other news, President Edward J. Zoiss sold 30,000 shares of the company’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $90.84, for a total value of $2,725,200.00. Following the completion of the sale, the president now owns 31,923 shares in the company, valued at approximately $2,899,885.32. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.82% of the company’s stock.
About L3Harris Technologies
L3Harris Technologies, Inc, an aerospace and defense technology company, provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides multi-mission intelligence, surveillance, and reconnaissance (ISR) systems; and communication systems, as well as fleet management support, sensor development, modification, and periodic depot maintenance services for ISR and airborne missions.
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