TOMS Capital Investment Management LP Invests $29.57 Million in L3Harris Technologies, Inc. (NYSE:LHX)

TOMS Capital Investment Management LP acquired a new position in shares of L3Harris Technologies, Inc. (NYSE:LHX) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 140,374 shares of the company’s stock, valued at approximately $29,566,000. L3Harris Technologies makes up 1.2% of TOMS Capital Investment Management LP’s investment portfolio, making the stock its 13th biggest holding.

Other large investors also recently modified their holdings of the company. Van ECK Associates Corp bought a new position in L3Harris Technologies during the third quarter worth $476,000. Hunter Associates Investment Management LLC boosted its stake in L3Harris Technologies by 3.4% during the third quarter. Hunter Associates Investment Management LLC now owns 2,287 shares of the company’s stock worth $398,000 after acquiring an additional 76 shares in the last quarter. Deutsche Bank AG boosted its stake in L3Harris Technologies by 6.7% during the third quarter. Deutsche Bank AG now owns 269,794 shares of the company’s stock worth $46,977,000 after acquiring an additional 16,890 shares in the last quarter. Nemes Rush Group LLC boosted its stake in L3Harris Technologies by 9.8% during the third quarter. Nemes Rush Group LLC now owns 21,759 shares of the company’s stock worth $3,789,000 after acquiring an additional 1,939 shares in the last quarter. Finally, Fiera Capital Corp boosted its stake in L3Harris Technologies by 2.4% during the third quarter. Fiera Capital Corp now owns 2,812 shares of the company’s stock worth $490,000 after acquiring an additional 65 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Stock Performance

NYSE LHX traded down $1.22 during trading hours on Tuesday, reaching $220.20. 595,756 shares of the company were exchanged, compared to its average volume of 1,037,367. L3Harris Technologies, Inc. has a 1 year low of $160.25 and a 1 year high of $226.99. The business’s 50 day simple moving average is $215.06 and its 200-day simple moving average is $210.42. The company has a quick ratio of 0.80, a current ratio of 0.98 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $41.77 billion, a P/E ratio of 35.75, a P/E/G ratio of 1.86 and a beta of 0.71.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, April 25th. The company reported $3.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.89 by $0.17. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The business had revenue of $5.21 billion during the quarter, compared to the consensus estimate of $5.11 billion. During the same quarter last year, the company posted $2.86 earnings per share. The firm’s quarterly revenue was up 16.6% compared to the same quarter last year. On average, equities research analysts expect that L3Harris Technologies, Inc. will post 12.89 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be issued a dividend of $1.16 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $4.64 dividend on an annualized basis and a yield of 2.11%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

Insider Buying and Selling

In other news, CEO Christopher E. Kubasik sold 40,000 shares of L3Harris Technologies stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $212.22, for a total value of $8,488,800.00. Following the completion of the transaction, the chief executive officer now owns 116,175 shares in the company, valued at $24,654,658.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Christopher E. Kubasik sold 26,190 shares of L3Harris Technologies stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $225.70, for a total value of $5,911,083.00. Following the completion of the transaction, the chief executive officer now owns 120,326 shares in the company, valued at $27,157,578.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher E. Kubasik sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the completion of the transaction, the chief executive officer now owns 116,175 shares of the company’s stock, valued at $24,654,658.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 120,845 shares of company stock worth $26,577,524. Insiders own 0.87% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on LHX shares. JPMorgan Chase & Co. increased their target price on shares of L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Wells Fargo & Company raised their price objective on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research note on Tuesday, May 7th. Citigroup raised their price objective on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company a “buy” rating in a research note on Tuesday, February 13th. Alembic Global Advisors raised shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price objective on the stock in a research note on Monday, April 22nd. Finally, Barclays raised their price objective on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $231.80.

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.