Larson Financial Group LLC bought a new position in shares of L3Harris (NYSE:LHX) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 227 shares of the company’s stock, valued at approximately $47,000.
Several other institutional investors also recently made changes to their positions in LHX. Marshall Wace North America L.P. acquired a new stake in shares of L3Harris during the second quarter worth $70,474,000. Marshall Wace LLP acquired a new stake in shares of L3Harris during the second quarter worth $33,411,000. Panagora Asset Management Inc. acquired a new stake in shares of L3Harris during the second quarter worth $19,308,000. State of Alaska Department of Revenue acquired a new stake in shares of L3Harris during the third quarter worth $17,933,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of L3Harris during the second quarter worth $13,188,000. 97.80% of the stock is currently owned by institutional investors.
LHX has been the topic of a number of recent analyst reports. Credit Suisse Group boosted their target price on L3Harris from $220.00 to $236.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Buckingham Research boosted their target price on L3Harris from $197.00 to $237.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Vertical Research initiated coverage on L3Harris in a research report on Wednesday, July 3rd. They set a “buy” rating and a $204.70 target price on the stock. Zacks Investment Research raised L3Harris from a “hold” rating to a “buy” rating and set a $236.00 target price on the stock in a research report on Thursday, September 5th. Finally, Morgan Stanley initiated coverage on L3Harris in a research report on Tuesday, August 6th. They set an “overweight” rating and a $259.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $237.25.
NYSE:LHX opened at $208.94 on Friday. The firm has a market capitalization of $46.50 billion, a price-to-earnings ratio of 25.20, a price-to-earnings-growth ratio of 2.70 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 quick ratio of 0.98, a current ratio of 1.14 and a debt-to-equity ratio of 0.82. The company’s fifty day simple moving average is $210.45.
L3Harris (NYSE:LHX) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.14. The firm had revenue of $1.87 billion for the quarter, compared to analyst estimates of $4.31 billion. L3Harris had a return on equity of 29.39% and a net margin of 13.95%. L3Harris’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.78 earnings per share. As a group, sell-side analysts anticipate that L3Harris will post 9.68 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.44%. 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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