Public Employees Retirement Association of Colorado Takes Position in L3Harris (NYSE:LHX)

Public Employees Retirement Association of Colorado purchased a new stake in shares of L3Harris (NYSE:LHX) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 39,672 shares of the company’s stock, valued at approximately $8,277,000.

Several other institutional investors have also recently made changes to their positions in LHX. Lindbrook Capital LLC acquired a new stake in shares of L3Harris during the 2nd quarter valued at about $25,000. Financial Gravity Wealth Inc. acquired a new stake in shares of L3Harris during the 2nd quarter valued at about $74,000. Municipal Employees Retirement System of Michigan acquired a new stake in shares of L3Harris during the 2nd quarter valued at about $306,000. Somerset Trust Co acquired a new stake in shares of L3Harris during the 2nd quarter valued at about $1,209,000. Finally, Tocqueville Asset Management L.P. acquired a new stake in shares of L3Harris during the 2nd quarter valued at about $1,094,000. Institutional investors and hedge funds own 97.80% of the company’s stock.

Shares of LHX stock traded up $1.66 during trading on Tuesday, reaching $196.82. The company had a trading volume of 856,396 shares, compared to its average volume of 1,562,210. The stock has a 50 day moving average price of $204.28. The company has a quick ratio of 1.21, a current ratio of 1.49 and a debt-to-equity ratio of 0.31. L3Harris has a one year low of $123.24 and a one year high of $217.31. The firm has a market cap of $43.33 billion, a P/E ratio of 23.74, a PEG ratio of 2.46 and a beta of 0.91.

L3Harris (NYSE:LHX) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $2.58 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.39 by $0.19. L3Harris had a return on equity of 16.42% and a net margin of 12.02%. The business had revenue of $4.43 billion for the quarter, compared to the consensus estimate of $4.43 billion. The firm’s revenue was up 187.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that L3Harris will post 9.97 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date is Thursday, November 21st. L3Harris’s payout ratio is 36.19%.

Several brokerages have recently issued reports on LHX. UBS Group set a $225.00 price target on L3Harris and gave the company a “hold” rating in a report on Friday, November 1st. Credit Suisse Group lifted their price target on L3Harris from $220.00 to $236.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Jefferies Financial Group lifted their price target on L3Harris from $235.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 16th. Cowen reissued a “buy” rating and issued a $210.00 price objective on shares of L3Harris in a research note on Wednesday, October 30th. Finally, Barclays reissued a “buy” rating and issued a $270.00 price objective on shares of L3Harris in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $235.89.

In other L3Harris news, CEO William M. Brown sold 130,000 shares of L3Harris stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $211.07, for a total value of $27,439,100.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO William M. Brown sold 106,552 shares of L3Harris 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. Insiders sold a total of 511,068 shares of company stock worth $108,033,097 over the last three months. 1.70% of the stock is owned by company insiders.

About L3Harris

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.

See Also: Overbought

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).

Institutional Ownership by Quarter 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.