Legato Capital Management LLC purchased a new position in shares of L3Harris Technologies Inc (NYSE:LHX – Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 7,500 shares of the company’s stock, valued at approximately $2,202,000.
Other hedge funds have also recently modified their holdings of the company. Caitlin John LLC acquired a new stake in L3Harris Technologies in the third quarter valued at $28,000. JPL Wealth Management LLC acquired a new stake in L3Harris Technologies in the third quarter valued at $29,000. American National Bank & Trust lifted 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 acquiring an additional 30 shares during the period. Lloyd Advisory Services LLC. acquired a new stake in L3Harris Technologies in the fourth quarter valued at $30,000. Finally, Triumph Capital Management acquired a new stake in L3Harris Technologies in the third quarter valued at $31,000. 84.76% of the stock is owned by institutional investors and hedge funds.
L3Harris Technologies Trading Up 1.9%
L3Harris Technologies stock opened at $312.12 on Friday. The stock has a market cap of $58.15 billion, a PE ratio of 33.89, a P/E/G ratio of 1.58 and a beta of 0.51. The stock has a 50-day moving average price of $336.51 and a 200 day moving average price of $325.05. L3Harris Technologies Inc has a 52 week low of $235.72 and a 52 week high of $379.23. The company has a current ratio of 1.03, a quick ratio of 0.89 and a debt-to-equity ratio of 0.47.
L3Harris Technologies Dividend Announcement
The business 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 dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Friday, June 5th. L3Harris Technologies’s dividend payout ratio (DPR) is currently 54.29%.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on the company. JPMorgan Chase & Co. raised their target price on L3Harris Technologies from $340.00 to $395.00 and gave the company an “overweight” rating in a report on Thursday, February 5th. Sanford C. Bernstein reduced their target price on L3Harris Technologies to $405.00 and set an “outperform” rating for the company in a report on Monday, May 4th. UBS Group reduced their target price on L3Harris Technologies from $362.00 to $330.00 and set a “neutral” rating for the company in a report on Friday, May 1st. Argus raised L3Harris Technologies to a “strong-buy” rating in a report on Friday, February 27th. Finally, Wall Street Zen raised L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Saturday, April 11th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $354.75.
Read Our Latest Research Report on L3Harris Technologies
Insider Buying and Selling
In related news, insider Samir Mehta sold 5,528 shares of L3Harris Technologies stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $370.32, for a total transaction of $2,047,128.96. Following the completion of the sale, the insider owned 7,756 shares in the company, valued at approximately $2,872,201.92. This trade represents a 41.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Melanie Rakita sold 2,180 shares of L3Harris Technologies stock in a transaction dated 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 represents a 34.21% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 16,365 shares of company stock worth $5,861,117. 0.68% of the stock is owned by corporate insiders.
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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