Toroso Investments LLC Increases Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Toroso Investments LLC increased its stake in L3Harris Technologies, Inc. (NYSE:LHXGet Rating) by 50.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,677 shares of the company’s stock after purchasing an additional 3,564 shares during the quarter. Toroso Investments LLC’s holdings in L3Harris Technologies were worth $2,653,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in LHX. Cowa LLC purchased a new position in shares of L3Harris Technologies in the first quarter valued at $26,000. Wagner Wealth Management LLC grew its position in shares of L3Harris Technologies by 296.9% in the fourth quarter. Wagner Wealth Management LLC now owns 127 shares of the company’s stock valued at $27,000 after purchasing an additional 95 shares in the last quarter. Lloyd Advisory Services LLC. purchased a new position in shares of L3Harris Technologies in the first quarter valued at $35,000. Selective Wealth Management Inc. grew its position in shares of L3Harris Technologies by 317.1% in the first quarter. Selective Wealth Management Inc. now owns 171 shares of the company’s stock valued at $42,000 after purchasing an additional 130 shares in the last quarter. Finally, TFO TDC LLC purchased a new position in shares of L3Harris Technologies in the first quarter valued at $48,000. 83.00% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Royal Bank of Canada began coverage on L3Harris Technologies in a research report on Monday, August 29th. They set an “outperform” rating and a $285.00 target price for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $267.91.

Insider Transactions at L3Harris Technologies

In related news, VP James P. Girard sold 7,500 shares of the stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $240.00, for a total transaction of $1,800,000.00. Following the completion of the sale, the vice president now directly owns 12,143 shares in the company, valued at approximately $2,914,320. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP James P. Girard sold 7,500 shares of the stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $240.00, for a total transaction of $1,800,000.00. Following the completion of the sale, the vice president now directly owns 12,143 shares in the company, valued at approximately $2,914,320. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Scott T. Mikuen sold 8,518 shares of the stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $237.95, for a total value of $2,026,858.10. Following the sale, the senior vice president now owns 44,735 shares of the company’s stock, valued at $10,644,693.25. The disclosure for this sale can be found here. In the last three months, insiders sold 23,518 shares of company stock worth $5,626,858. 1.00% of the stock is currently owned by corporate insiders.

L3Harris Technologies Price Performance

LHX opened at $228.43 on Friday. The stock has a 50-day moving average price of $232.39 and a 200-day moving average price of $240.30. L3Harris Technologies, Inc. has a 12-month low of $200.71 and a 12-month high of $279.71. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $43.71 billion, a P/E ratio of 23.67, a PEG ratio of 5.08 and a beta of 0.68.

L3Harris Technologies (NYSE:LHXGet Rating) last posted its quarterly earnings data on Thursday, July 28th. The company reported $3.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.16 by $0.07. L3Harris Technologies had a return on equity of 13.09% and a net margin of 11.36%. The firm had revenue of $4.14 billion during the quarter, compared to analysts’ expectations of $4.23 billion. During the same period in the prior year, the business earned $3.26 EPS. The company’s revenue for the quarter was down 11.4% compared to the same quarter last year. Equities analysts predict that L3Harris Technologies, Inc. will post 13.42 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 16th. Stockholders of record on Friday, September 2nd will be issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend is Thursday, September 1st. L3Harris Technologies’s payout ratio is currently 46.14%.

About L3Harris Technologies

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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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Institutional Ownership by Quarter for L3Harris Technologies (NYSE:LHX)

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