Toroso Investments LLC Acquires 938 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Toroso Investments LLC raised its holdings in L3Harris Technologies, Inc. (NYSE:LHX – Get Rating) by 10.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,138 shares of the company’s stock after purchasing an additional 938 shares during the quarter. Toroso Investments LLC’s holdings in L3Harris Technologies were worth $2,107,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of LHX. Cowa LLC bought a new position in L3Harris Technologies in the 1st quarter valued at $26,000. Eagle Bay Advisors LLC bought a new position in shares of L3Harris Technologies during the 2nd quarter worth $30,000. Wagner Wealth Management LLC bought a new position in shares of L3Harris Technologies during the 2nd quarter worth $32,000. Trustcore Financial Services LLC grew its stake in shares of L3Harris Technologies by 106.2% during the 3rd quarter. Trustcore Financial Services LLC now owns 167 shares of the company’s stock worth $35,000 after acquiring an additional 86 shares during the period. Finally, Old North State Trust LLC bought a new position in shares of L3Harris Technologies during the 3rd quarter worth $38,000. Institutional investors own 82.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Wells Fargo & Company increased their price target on L3Harris Technologies from $219.00 to $230.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 1st. TheStreet downgraded L3Harris Technologies from a “b-” rating to a “c+” rating in a research note on Tuesday, November 22nd. Susquehanna increased their price objective on L3Harris Technologies from $265.00 to $270.00 and gave the stock a “positive” rating in a report on Monday, January 30th. Cowen dropped their price objective on L3Harris Technologies from $260.00 to $240.00 and set an “outperform” rating on the stock in a report on Thursday, January 12th. Finally, Robert W. Baird cut L3Harris Technologies from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $290.00 to $241.00 in a report on Monday, December 19th. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $259.46.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $202.27 on Friday. The business’s 50-day moving average price is $206.59 and its two-hundred day moving average price is $218.42. L3Harris Technologies, Inc. has a twelve month low of $189.73 and a twelve month high of $264.71. The stock has a market cap of $38.42 billion, a P/E ratio of 36.98, a PEG ratio of 6.33 and a beta of 0.71. The company has a quick ratio of 0.95, a current ratio of 1.17 and a debt-to-equity ratio of 0.33.

L3Harris Technologies (NYSE:LHX – Get Rating) last announced its quarterly earnings data on Friday, January 27th. The company reported $3.27 earnings per share for the quarter, beating analysts’ consensus estimates of $3.21 by $0.06. The company had revenue of $4.58 billion for the quarter, compared to analysts’ expectations of $4.36 billion. L3Harris Technologies had a return on equity of 13.20% and a net margin of 6.22%. L3Harris Technologies’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period last year, the firm posted $3.30 EPS. As a group, equities analysts predict that L3Harris Technologies, Inc. will post 12.32 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 24th. Investors of record on Friday, March 10th will be issued a dividend of $1.14 per share. This represents a $4.56 dividend on an annualized basis and a dividend yield of 2.25%. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.12. The ex-dividend date is Thursday, March 9th. L3Harris Technologies’s dividend payout ratio (DPR) is currently 83.36%.

L3Harris Technologies Company Profile

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L3Harris Technologies, Inc engages in the provision of defense and commercial technologies across the air, land, sea, space, and cyber domains. It operates through the following segments: Integrated Mission Systems, Space and Airborne Systems, Communication Systems, and Aviation Systems. The Integrated Mission Systems segment consists of multi-mission ISR and communication systems, integrated electrical and electronic systems for maritime platforms, and advanced electro-optical and infrared solutions.