QRG Capital Management Inc. increased its holdings in shares of L3Harris Technologies Inc (NYSE:LHX – Free Report) by 24.8% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 47,912 shares of the company’s stock after purchasing an additional 9,515 shares during the quarter. QRG Capital Management Inc.’s holdings in L3Harris Technologies were worth $16,537,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fideuram Asset Management Ireland dac acquired a new stake in shares of L3Harris Technologies during the fourth quarter valued at about $25,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of L3Harris Technologies in the fourth quarter worth about $25,000. Motiv8 Investments LLC purchased a new position in L3Harris Technologies in the fourth quarter valued at about $25,000. American National Bank & Trust boosted 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 last quarter. Finally, Abound Financial LLC acquired a new stake in L3Harris Technologies during the 4th quarter valued at approximately $29,000. 84.76% of the stock is owned by institutional investors and hedge funds.
L3Harris Technologies Stock Performance
Shares of LHX opened at $301.23 on Friday. The stock has a market capitalization of $56.12 billion, a PE ratio of 32.71, a price-to-earnings-growth ratio of 1.53 and a beta of 0.51. The business’s fifty day moving average price is $305.85 and its 200 day moving average price is $328.90. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.03 and a quick ratio of 0.89. L3Harris Technologies Inc has a 12-month low of $250.02 and a 12-month high of $379.23.
L3Harris Technologies Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 5th were given a dividend of $1.25 per share. 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 is presently 54.29%.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on the company. Wall Street Zen raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, April 11th. Weiss Ratings downgraded shares of L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 23rd. UBS Group dropped their price target on shares of L3Harris Technologies from $362.00 to $330.00 and set a “neutral” rating for the company in a research note on Friday, May 1st. Truist Financial raised shares of L3Harris Technologies to a “strong-buy” rating in a report on Friday, May 1st. Finally, Sanford C. Bernstein reduced their price objective on shares of L3Harris Technologies to $405.00 and set an “outperform” rating on the stock in a research note on Monday, May 4th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $354.75.
Check Out Our Latest Analysis on L3Harris Technologies
Insider Activity
In related news, VP Melanie Rakita sold 2,180 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $310.45, for a total value of $676,781.00. Following the sale, the vice president owned 4,192 shares of the company’s stock, valued at approximately $1,301,406.40. This trade represents a 34.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.68% of the company’s stock.
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.
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