BNP Paribas Financial Markets cut its stake in shares of L3Harris Technologies Inc (NYSE:LHX – Free Report) by 7.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 297,345 shares of the company’s stock after selling 24,601 shares during the period. BNP Paribas Financial Markets’ holdings in L3Harris Technologies were worth $87,292,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Fideuram Asset Management Ireland dac acquired a new stake in L3Harris Technologies during the 4th quarter worth approximately $25,000. Caitlin John LLC acquired a new position in shares of L3Harris Technologies in the third quarter worth $28,000. American National Bank & Trust increased its position in shares of L3Harris Technologies by 44.8% during the fourth quarter. American National Bank & Trust now owns 97 shares of the company’s stock worth $28,000 after acquiring an additional 30 shares during the period. JPL Wealth Management LLC acquired a new stake in shares of L3Harris Technologies in the third quarter valued at $29,000. Finally, Lloyd Advisory Services LLC. acquired a new stake in shares of L3Harris Technologies in the fourth quarter valued at $30,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.
L3Harris Technologies Price Performance
Shares of LHX opened at $310.01 on Tuesday. L3Harris Technologies Inc has a 1-year low of $237.56 and a 1-year high of $379.23. 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 stock has a market cap of $57.75 billion, a PE ratio of 33.66, a price-to-earnings-growth ratio of 1.59 and a beta of 0.50. The firm has a fifty day moving average price of $330.34 and a 200 day moving average price of $326.17.
L3Harris Technologies Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 5th will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, June 5th. L3Harris Technologies’s payout ratio is presently 54.29%.
Analyst Ratings Changes
Several research analysts recently commented on the company. Wall Street Zen raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th. JPMorgan Chase & Co. increased their price target on L3Harris Technologies from $340.00 to $395.00 and gave the company an “overweight” rating in a research report on Thursday, February 5th. Truist Financial upgraded L3Harris Technologies to a “strong-buy” rating in a research note on Friday, May 1st. Weiss Ratings raised L3Harris Technologies from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 13th. Finally, Sanford C. Bernstein reduced 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. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $354.75.
View Our Latest Report on L3Harris Technologies
Insider Activity at L3Harris Technologies
In related news, VP Melanie Rakita sold 2,180 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $310.45, for a total value of $676,781.00. Following the completion of the sale, the vice president owned 4,192 shares in the company, valued at $1,301,406.40. This represents a 34.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.68% of the stock is owned by 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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