Rothschild & Co. Asset Management US Inc. Raises Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Rothschild & Co. Asset Management US Inc. grew its stake in shares of L3Harris Technologies, Inc. (NYSE:LHXGet Rating) by 0.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 23,566 shares of the company’s stock after purchasing an additional 69 shares during the period. Rothschild & Co. Asset Management US Inc.’s holdings in L3Harris Technologies were worth $5,856,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Brighton Jones LLC boosted its position in shares of L3Harris Technologies by 16.7% during the 1st quarter. Brighton Jones LLC now owns 1,230 shares of the company’s stock worth $306,000 after purchasing an additional 176 shares in the last quarter. Sequoia Financial Advisors LLC boosted its position in shares of L3Harris Technologies by 18.9% during the 1st quarter. Sequoia Financial Advisors LLC now owns 3,372 shares of the company’s stock worth $838,000 after purchasing an additional 537 shares in the last quarter. Dakota Wealth Management acquired a new position in shares of L3Harris Technologies during the 1st quarter worth $4,559,000. Moors & Cabot Inc. raised its stake in shares of L3Harris Technologies by 21.9% during the 1st quarter. Moors & Cabot Inc. now owns 21,886 shares of the company’s stock worth $5,438,000 after buying an additional 3,931 shares during the last quarter. Finally, Boston Financial Mangement LLC raised its stake in shares of L3Harris Technologies by 3.8% during the 1st quarter. Boston Financial Mangement LLC now owns 1,165 shares of the company’s stock worth $289,000 after buying an additional 43 shares during the last quarter. 83.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada started coverage on L3Harris Technologies in a research note on Monday, August 29th. They set an “outperform” rating and a $285.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $267.91.

L3Harris Technologies Trading Up 0.2 %

Shares of LHX stock opened at $233.72 on Friday. The firm has a 50-day moving average price of $232.91 and a 200 day moving average price of $240.06. L3Harris Technologies, Inc. has a twelve month low of $200.71 and a twelve month high of $279.71. The company has a market capitalization of $44.72 billion, a price-to-earnings ratio of 24.07, a PEG ratio of 5.16 and a beta of 0.68. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35.

L3Harris Technologies (NYSE:LHXGet Rating) last announced its earnings results on Thursday, July 28th. The company reported $3.23 earnings per share for the quarter, beating the consensus estimate of $3.16 by $0.07. L3Harris Technologies had a net margin of 11.36% and a return on equity of 13.09%. The firm had revenue of $4.14 billion during the quarter, compared to the consensus estimate of $4.23 billion. During the same quarter in the previous year, the company posted $3.26 EPS. The firm’s revenue for the quarter was down 11.4% on a year-over-year basis. Research analysts forecast that L3Harris Technologies, Inc. will post 13.42 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 16th. Stockholders of record on Friday, September 2nd will be paid a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend is Thursday, September 1st. L3Harris Technologies’s dividend payout ratio is currently 46.14%.

Insider Activity

In other news, VP James P. Girard sold 7,500 shares of the company’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $240.00, for a total transaction of $1,800,000.00. Following the completion of the transaction, the vice president now owns 12,143 shares of the company’s stock, valued at approximately $2,914,320. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, VP James P. Girard sold 7,500 shares of the business’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $240.00, for a total transaction of $1,800,000.00. Following the completion of the sale, the vice president now owns 12,143 shares in the company, valued at approximately $2,914,320. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Scott T. Mikuen sold 8,518 shares of the company’s stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $237.95, for a total value of $2,026,858.10. Following the completion of the transaction, the senior vice president now owns 44,735 shares of the company’s stock, valued at approximately $10,644,693.25. The disclosure for this sale can be found here. Insiders sold a total of 23,518 shares of company stock valued at $5,626,858 in the last 90 days. 1.00% of the stock is currently owned by insiders.

L3Harris Technologies Company Profile

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L3Harris Technologies, Inc, an aerospace and defense technology company, provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides multi-mission intelligence, surveillance, and reconnaissance (ISR) systems; and communication systems, as well as fleet management support, sensor development, modification, and periodic depot maintenance services for ISR and airborne missions.

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Institutional Ownership by Quarter for L3Harris Technologies (NYSE:LHX)

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