Neville Rodie & Shaw Inc. acquired a new position in L3Harris (NYSE:LHX) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 1,680 shares of the company’s stock, valued at approximately $351,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LHX. Lindbrook Capital LLC purchased a new stake in L3Harris in the 2nd quarter worth approximately $25,000. Dougherty Wealth Advisers LLC purchased a new position in shares of L3Harris in the 2nd quarter valued at approximately $31,000. West Oak Capital LLC purchased a new position in shares of L3Harris in the 3rd quarter valued at approximately $40,000. Financial Gravity Wealth Inc. purchased a new position in shares of L3Harris in the 2nd quarter valued at approximately $74,000. Finally, Parallel Advisors LLC purchased a new position in shares of L3Harris in the 2nd quarter valued at approximately $100,000. Institutional investors and hedge funds own 97.80% of the company’s stock.
A number of research firms have recently commented on LHX. Zacks Investment Research upgraded L3Harris from a “hold” rating to a “buy” rating and set a $236.00 target price for the company in a research note on Thursday, September 5th. ValuEngine cut L3Harris from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. SunTrust Banks raised their target price on L3Harris to $232.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. UBS Group raised their target price on L3Harris from $200.00 to $210.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Finally, Buckingham Research raised their target price on L3Harris from $197.00 to $237.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $236.79.
NYSE:LHX traded down $0.76 during trading hours on Friday, reaching $205.45. 311,304 shares of the company traded hands, compared to its average volume of 1,596,621. The firm has a 50-day moving average price of $210.95. The firm has a market capitalization of $45.90 billion, a PE ratio of 24.78, a P/E/G ratio of 2.63 and a beta of 0.92. L3Harris has a 1 year low of $123.24 and a 1 year high of $217.31. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.14 and a quick ratio of 0.98.
L3Harris (NYSE:LHX) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $2.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.30 by $0.14. The business had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $4.31 billion. L3Harris had a return on equity of 29.39% and a net margin of 13.95%. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.78 earnings per share. As a group, analysts anticipate that L3Harris will post 9.68 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th were paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend was Tuesday, September 3rd. L3Harris’s payout ratio is 36.19%.
L3Harris Technologies, Inc provides technology-based solutions that solve government and commercial customers' mission-critical challenges in the United States and internationally. The company operates in three segments: Communication Systems, Electronic Systems, and Space and Intelligence Systems.
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