TD Asset Management Inc Has $23.38 Million Stake in L3Harris Technologies Inc (NYSE:LHX)

Key Points

• TD Asset Management Inc increased its holdings in L3Harris Technologies Inc by 6.2%, now owning 111,682 shares valued at approximately $23.4 million.
• L3Harris Technologies reported earnings of $2.78 per share, exceeding estimates, with quarterly revenue reaching $5.43 billion, a 2.4% increase from the previous year.
• The company also announced a quarterly dividend of $1.20 payable on September 22, representing an annualized yield of 1.76%.

TD Asset Management Inc boosted its holdings in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 6.2% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 111,682 shares of the company's stock after acquiring an additional 6,520 shares during the period. TD Asset Management Inc owned about 0.06% of L3Harris Technologies worth $23,376,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Meeder Asset Management Inc. raised its stake in shares of L3Harris Technologies by 234.3% during the fourth quarter. Meeder Asset Management Inc. now owns 117 shares of the company's stock valued at $25,000 after purchasing an additional 82 shares in the last quarter. Beacon Capital Management LLC lifted its stake in L3Harris Technologies by 79.5% during the first quarter. Beacon Capital Management LLC now owns 131 shares of the company's stock valued at $27,000 after buying an additional 58 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its stake in L3Harris Technologies by 336.4% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company's stock worth $30,000 after purchasing an additional 111 shares during the period. Park Square Financial Group LLC acquired a new stake in shares of L3Harris Technologies in the fourth quarter worth $37,000. Finally, Cornerstone Planning Group LLC grew its stake in L3Harris Technologies by 323.3% during the 1st quarter. Cornerstone Planning Group LLC now owns 182 shares of the company's stock valued at $39,000 after acquiring an additional 139 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on LHX shares. Barclays upped their price objective on shares of L3Harris Technologies from $255.00 to $305.00 and gave the company an "overweight" rating in a research note on Tuesday. Susquehanna upped their price target on shares of L3Harris Technologies from $300.00 to $320.00 and gave the stock a "positive" rating in a research note on Friday, July 25th. Citigroup increased their price objective on L3Harris Technologies from $300.00 to $323.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Wall Street Zen upgraded L3Harris Technologies from a "hold" rating to a "buy" rating in a research note on Monday, July 28th. Finally, Robert W. Baird upped their target price on L3Harris Technologies from $274.00 to $320.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $279.47.

Insider Activity at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 72,000 shares of the business's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $271.14, for a total value of $19,522,080.00. Following the completion of the transaction, the chief executive officer owned 145,578 shares of the company's stock, valued at $39,472,018.92. The trade was a 33.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Edward J. Zoiss sold 2,000 shares of the firm's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $245.00, for a total value of $490,000.00. Following the sale, the insider directly owned 25,325 shares in the company, valued at $6,204,625. The trade was a 7.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold 107,061 shares of company stock valued at $28,227,077 in the last ninety days. Insiders own 0.72% of the company's stock.

L3Harris Technologies Trading Up 1.2%

Shares of LHX stock traded up $3.37 on Friday, reaching $278.19. 1,412,687 shares of the stock were exchanged, compared to its average volume of 1,302,119. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 0.87. L3Harris Technologies Inc has a one year low of $193.09 and a one year high of $280.03. The stock has a market cap of $52.05 billion, a PE ratio of 31.08, a P/E/G ratio of 2.01 and a beta of 0.77. The stock has a 50 day moving average price of $255.07 and a 200 day moving average price of $227.81.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its earnings results on Thursday, July 24th. The company reported $2.78 EPS for the quarter, topping analysts' consensus estimates of $2.48 by $0.30. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The firm had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.31 billion. During the same quarter in the previous year, the business earned $3.24 EPS. The business's quarterly revenue was up 2.4% compared to the same quarter last year. Equities research analysts forecast that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 22nd. Shareholders of record on Friday, September 5th will be paid a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, September 5th. L3Harris Technologies's dividend payout ratio is presently 53.63%.

L3Harris Technologies Company Profile

L3Harris Technologies, Inc provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides intelligence, surveillance, and reconnaissance (ISR) systems, passive sensing and targeting, electronic attack, autonomy, power and communications, and networks and sensors, as well as advanced combat systems for air, land, and sea sectors.