Oppenheimer Asset Management Inc. acquired a new position in L3Harris Technologies Inc (NYSE:LHX – Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The fund acquired 4,213 shares of the company’s stock, valued at approximately $1,224,000.
Several other large investors also recently modified their holdings of the business. REAP Financial Group LLC boosted its holdings in L3Harris Technologies by 12.9% in the fourth quarter. REAP Financial Group LLC now owns 254 shares of the company’s stock valued at $74,000 after purchasing an additional 29 shares during the last quarter. CYBER HORNET ETFs LLC grew its holdings in L3Harris Technologies by 5.8% during the 4th quarter. CYBER HORNET ETFs LLC now owns 547 shares of the company’s stock worth $161,000 after acquiring an additional 30 shares in the last quarter. Turtle Creek Wealth Advisors LLC grew its stake in L3Harris Technologies by 3.7% in the fourth quarter. Turtle Creek Wealth Advisors LLC now owns 862 shares of the company’s stock worth $253,000 after purchasing an additional 31 shares in the last quarter. Keudell Morrison Wealth Management raised its stake in L3Harris Technologies by 0.7% during the first quarter. Keudell Morrison Wealth Management now owns 4,631 shares of the company’s stock valued at $1,598,000 after buying an additional 31 shares in the last quarter. Finally, Prestige Wealth Management Group LLC lifted its holdings in L3Harris Technologies by 25.2% during the 4th quarter. Prestige Wealth Management Group LLC now owns 159 shares of the company’s stock worth $47,000 after buying an additional 32 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.
L3Harris Technologies Price Performance
Shares of NYSE:LHX opened at $291.62 on Monday. The firm’s 50 day moving average is $292.85 and its two-hundred day moving average is $323.26. The firm has a market capitalization of $54.30 billion, a P/E ratio of 29.46, a PEG ratio of 1.10 and a beta of 0.51. The company has a current ratio of 1.18, a quick ratio of 1.03 and a debt-to-equity ratio of 0.46. L3Harris Technologies Inc has a 52 week low of $262.68 and a 52 week high of $379.23.
L3Harris Technologies Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Friday, September 4th. L3Harris Technologies’s dividend payout ratio is currently 50.51%.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on LHX shares. Truist Financial raised L3Harris Technologies to a “strong-buy” rating in a research report on Friday, May 1st. Susquehanna dropped their target price on shares of L3Harris Technologies from $410.00 to $350.00 and set a “positive” rating on the stock in a report on Friday, July 31st. BNP Paribas Exane reduced their price target on shares of L3Harris Technologies from $330.00 to $310.00 and set a “neutral” rating on the stock in a research report on Thursday, July 30th. Sanford C. Bernstein cut their target price on shares of L3Harris Technologies to $405.00 and set an “outperform” rating on the stock in a report on Monday, May 4th. Finally, Weiss Ratings cut shares of L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, June 23rd. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $365.00.
View Our Latest Analysis on LHX
L3Harris Technologies Company Profile
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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