TD Private Client Wealth LLC Grows Stock Position in L3Harris Technologies Inc (NYSE:LHX)

TD Private Client Wealth LLC boosted its stake in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 28.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,057 shares of the company's stock after acquiring an additional 1,986 shares during the quarter. TD Private Client Wealth LLC's holdings in L3Harris Technologies were worth $1,896,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Koshinski Asset Management Inc. lifted its stake in shares of L3Harris Technologies by 3.1% during the 1st quarter. Koshinski Asset Management Inc. now owns 1,688 shares of the company's stock worth $353,000 after purchasing an additional 50 shares during the last quarter. Belpointe Asset Management LLC lifted its stake in shares of L3Harris Technologies by 0.7% during the 4th quarter. Belpointe Asset Management LLC now owns 7,017 shares of the company's stock worth $1,476,000 after purchasing an additional 52 shares during the last quarter. CWC Advisors LLC. lifted its stake in shares of L3Harris Technologies by 2.1% during the 4th quarter. CWC Advisors LLC. now owns 2,596 shares of the company's stock worth $546,000 after purchasing an additional 53 shares during the last quarter. Citizens Financial Group Inc. RI lifted its stake in shares of L3Harris Technologies by 0.6% during the 4th quarter. Citizens Financial Group Inc. RI now owns 8,908 shares of the company's stock worth $1,873,000 after purchasing an additional 54 shares during the last quarter. Finally, Riverwater Partners LLC lifted its stake in shares of L3Harris Technologies by 3.1% during the 1st quarter. Riverwater Partners LLC now owns 1,773 shares of the company's stock worth $371,000 after purchasing an additional 54 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on LHX. UBS Group upped their price objective on L3Harris Technologies from $222.00 to $226.00 and gave the stock a "neutral" rating in a research note on Monday, April 28th. The Goldman Sachs Group raised L3Harris Technologies from a "sell" rating to a "buy" rating and upped their price target for the stock from $198.00 to $263.00 in a research report on Friday, April 11th. Jefferies Financial Group cut their target price on L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Citigroup upped their target price on L3Harris Technologies from $245.00 to $280.00 and gave the company a "buy" rating in a research report on Monday, June 9th. Finally, Truist Financial cut their target price on L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, L3Harris Technologies currently has a consensus rating of "Moderate Buy" and an average price target of $258.75.

L3Harris Technologies Price Performance

Shares of LHX stock traded up $1.19 during mid-day trading on Thursday, hitting $260.24. 1,157,679 shares of the stock were exchanged, compared to its average volume of 1,158,047. The firm has a fifty day moving average of $240.49 and a 200 day moving average of $221.09. The company has a quick ratio of 0.85, a current ratio of 1.02 and a debt-to-equity ratio of 0.57. L3Harris Technologies Inc has a 52-week low of $193.09 and a 52-week high of $265.74. The company has a market cap of $48.65 billion, a PE ratio of 30.87, a price-to-earnings-growth ratio of 2.07 and a beta of 0.75.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its earnings results on Thursday, April 24th. The company reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.32 by $0.09. L3Harris Technologies had a net margin of 7.55% and a return on equity of 12.38%. The business had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.29 billion. During the same period in the prior year, the company posted $3.06 EPS. The company's revenue for the quarter was down 1.5% on a year-over-year basis. Research analysts anticipate that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd were paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date was Tuesday, June 3rd. L3Harris Technologies's dividend payout ratio is presently 56.94%.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, insider Edward J. Zoiss sold 2,000 shares of the business's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $245.00, for a total transaction of $490,000.00. Following the transaction, the insider owned 25,325 shares of the company's stock, valued at approximately $6,204,625. The trade was a 7.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Christopher E. Kubasik sold 33,061 shares of the business's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $248.48, for a total value of $8,214,997.28. Following the transaction, the chief executive officer directly owned 145,572 shares in the company, valued at $36,171,730.56. This trade represents a 18.51% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.72% of the company's stock.

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.