Toronto Dominion Bank Grows Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Toronto Dominion Bank lifted its position in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 8.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 101,694 shares of the company's stock after purchasing an additional 7,764 shares during the period. Toronto Dominion Bank owned 0.05% of L3Harris Technologies worth $21,384,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in LHX. Measured Wealth Private Client Group LLC lifted its position in shares of L3Harris Technologies by 5.5% during the 4th quarter. Measured Wealth Private Client Group LLC now owns 953 shares of the company's stock valued at $200,000 after acquiring an additional 50 shares during the period. Belpointe Asset Management LLC increased its holdings in L3Harris Technologies by 0.7% in the 4th quarter. Belpointe Asset Management LLC now owns 7,017 shares of the company's stock valued at $1,476,000 after buying an additional 52 shares during the period. U.S. Capital Wealth Advisors LLC raised its position in shares of L3Harris Technologies by 2.2% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 2,447 shares of the company's stock valued at $514,000 after buying an additional 53 shares in the last quarter. Klingman & Associates LLC lifted its holdings in shares of L3Harris Technologies by 2.8% during the 4th quarter. Klingman & Associates LLC now owns 1,933 shares of the company's stock worth $406,000 after acquiring an additional 53 shares during the period. Finally, Zullo Investment Group Inc. boosted its position in shares of L3Harris Technologies by 3.2% during the 4th quarter. Zullo Investment Group Inc. now owns 1,717 shares of the company's stock worth $361,000 after acquiring an additional 54 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

L3Harris Technologies Trading Up 0.4%

Shares of NYSE:LHX traded up $1.01 during trading on Friday, reaching $244.43. 2,784,686 shares of the company traded hands, compared to its average volume of 1,098,898. The firm has a market capitalization of $45.70 billion, a price-to-earnings ratio of 31.06, a P/E/G ratio of 2.42 and a beta of 0.72. The business's fifty day moving average is $219.62 and its 200-day moving average is $218.64. The company has a current ratio of 1.08, a quick ratio of 0.90 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.

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, beating the consensus estimate of $2.32 by $0.09. The firm had revenue of $5.13 billion for the quarter, compared to analysts' expectations of $5.29 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. The business's revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.06 earnings per share. As a group, analysts forecast that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date is Tuesday, June 3rd. L3Harris Technologies's dividend payout ratio (DPR) is presently 56.94%.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Edward J. Zoiss sold 1,783 shares of the business's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $211.48, for a total value of $377,068.84. Following the sale, the insider now directly owns 30,620 shares of the company's stock, valued at approximately $6,475,517.60. The trade was a 5.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jon Rambeau sold 3,178 shares of the company's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $226.00, for a total transaction of $718,228.00. Following the completion of the transaction, the insider now owns 2,797 shares in the company, valued at approximately $632,122. The trade was a 53.19% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,961 shares of company stock valued at $1,585,297. Corporate insiders own 0.72% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on LHX shares. Bank of America reduced their price objective on L3Harris Technologies from $300.00 to $265.00 and set a "buy" rating on the stock in a research report on Tuesday, February 4th. Royal Bank of Canada reissued a "sector perform" rating and issued a $240.00 price target on shares of L3Harris Technologies in a research note on Friday, January 31st. Wells Fargo & Company reduced their target price on L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Citigroup dropped their target price on shares of L3Harris Technologies from $285.00 to $245.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of L3Harris Technologies from $265.00 to $255.00 and set an "overweight" rating for the company in a research report on Friday, January 31st. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, L3Harris Technologies presently has a consensus rating of "Moderate Buy" and an average price target of $256.56.

About L3Harris Technologies

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.