Rossmore Private Capital lifted its holdings in L3Harris Technologies Inc (NYSE:LHX – Free Report) by 38.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,399 shares of the company’s stock after purchasing an additional 1,787 shares during the period. Rossmore Private Capital’s holdings in L3Harris Technologies were worth $1,879,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Caitlin John LLC purchased a new position in shares of L3Harris Technologies in the 3rd quarter valued at about $28,000. American National Bank & Trust increased its stake in L3Harris Technologies by 44.8% during the 4th quarter. American National Bank & Trust now owns 97 shares of the company’s stock worth $28,000 after buying an additional 30 shares in the last quarter. JPL Wealth Management LLC purchased a new stake in L3Harris Technologies during the 3rd quarter worth approximately $29,000. Triumph Capital Management purchased a new stake in L3Harris Technologies during the 3rd quarter worth approximately $31,000. Finally, GGM Financials LLC purchased a new stake in L3Harris Technologies during the 3rd quarter worth approximately $32,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.
L3Harris Technologies Price Performance
LHX stock opened at $303.56 on Monday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.03 and a quick ratio of 0.89. The business has a 50 day simple moving average of $342.05 and a 200-day simple moving average of $324.61. The firm has a market capitalization of $56.55 billion, a PE ratio of 32.96, a price-to-earnings-growth ratio of 1.53 and a beta of 0.51. L3Harris Technologies Inc has a 1 year low of $226.47 and a 1 year high of $379.23.
L3Harris Technologies Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be given a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 1.6%. The ex-dividend date is Friday, June 5th. L3Harris Technologies’s dividend payout ratio is presently 54.29%.
Insider Buying and Selling
In related news, insider Samir Mehta sold 5,528 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $370.32, for a total value of $2,047,128.96. Following the completion of the transaction, the insider directly owned 7,756 shares in the company, valued at approximately $2,872,201.92. This represents a 41.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jon Rambeau sold 5,528 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $370.32, for a total value of $2,047,128.96. Following the completion of the transaction, the insider owned 7,660 shares of the company’s stock, valued at $2,836,651.20. The trade was a 41.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 16,365 shares of company stock worth $5,861,117. Company insiders own 0.68% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts have commented on the company. JPMorgan Chase & Co. boosted their price objective on L3Harris Technologies from $340.00 to $395.00 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. Wall Street Zen upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th. Morgan Stanley boosted their price objective on L3Harris Technologies from $367.00 to $390.00 and gave the stock an “overweight” rating in a research note on Monday, February 2nd. UBS Group cut their price objective on L3Harris Technologies from $362.00 to $330.00 and set a “neutral” rating for the company in a research note on Friday, May 1st. Finally, Weiss Ratings upgraded L3Harris Technologies from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $354.75.
View Our Latest Analysis on LHX
L3Harris Technologies 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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