E&G Advisors LP bought a new position in shares of L3Harris (NYSE:LHX) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 2,400 shares of the company’s stock, valued at approximately $501,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Marshall Wace North America L.P. acquired a new stake in L3Harris in the 2nd quarter valued at about $70,474,000. Marshall Wace LLP acquired a new stake in L3Harris in the 2nd quarter valued at about $33,411,000. Panagora Asset Management Inc. acquired a new stake in L3Harris in the 2nd quarter valued at about $19,308,000. State of Alaska Department of Revenue acquired a new stake in L3Harris in the 3rd quarter valued at about $17,933,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in L3Harris in the 2nd quarter valued at about $13,188,000. 97.80% of the stock is currently owned by hedge funds and other institutional investors.
LHX has been the topic of a number of analyst reports. Goldman Sachs Group initiated coverage on L3Harris in a research report on Tuesday, July 9th. They issued a “buy” rating and a $240.00 price target on the stock. JPMorgan Chase & Co. increased their price target on L3Harris from $210.00 to $235.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. ValuEngine lowered L3Harris from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Zacks Investment Research upgraded L3Harris from a “hold” rating to a “buy” rating and set a $236.00 price objective on the stock in a report on Thursday, September 5th. Finally, Morgan Stanley started coverage on L3Harris in a report on Tuesday, August 6th. They issued an “overweight” rating and a $259.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $237.25.
L3Harris (NYSE:LHX) last released its quarterly earnings data on Wednesday, July 31st. The company reported $2.44 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.14. L3Harris had a return on equity of 29.39% and a net margin of 13.95%. The business had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $4.31 billion. During the same quarter in the prior year, the business posted $1.78 EPS. The business’s revenue for the quarter was up 12.3% on a year-over-year basis. Sell-side analysts forecast that L3Harris will post 9.68 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th were issued a $0.75 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.43%. L3Harris’s payout ratio is currently 36.19%.
In related news, SVP Scott T. Mikuen sold 56,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $213.80, for a total transaction of $12,079,700.00. Also, CEO William M. Brown sold 106,552 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $207.82, for a total value of $22,143,636.64. In the last quarter, insiders bought 11,800 shares of company stock worth $2,402,722 and sold 511,068 shares worth $108,033,097. Corporate insiders own 1.70% of the company’s stock.
L3Harris Company Profile
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.
Read More: How to trade the most active stocks
Want to see what other hedge funds are holding LHX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for L3Harris (NYSE:LHX).
Receive News & Ratings for L3Harris Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for L3Harris and related companies with MarketBeat.com's FREE daily email newsletter.