Stokes Capital Advisors LLC Grows Stock Position in L3Harris (NYSE:LHX)

Stokes Capital Advisors LLC boosted its position in L3Harris (NYSE:LHX) by 4.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 21,492 shares of the company’s stock after purchasing an additional 919 shares during the quarter. L3Harris comprises about 1.8% of Stokes Capital Advisors LLC’s holdings, making the stock its 27th largest position. Stokes Capital Advisors LLC’s holdings in L3Harris were worth $3,650,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Capital Research Global Investors raised its stake in L3Harris by 17.9% in the 1st quarter. Capital Research Global Investors now owns 8,224,059 shares of the company’s stock valued at $1,481,318,000 after purchasing an additional 1,249,600 shares during the last quarter. Capital International Investors grew its holdings in shares of L3Harris by 186.3% during the 1st quarter. Capital International Investors now owns 3,102,176 shares of the company’s stock worth $558,764,000 after purchasing an additional 2,018,719 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of L3Harris by 36.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,862,343 shares of the company’s stock worth $485,655,000 after purchasing an additional 766,660 shares during the period. Invesco Ltd. boosted its holdings in L3Harris by 9.0% in the 1st quarter. Invesco Ltd. now owns 1,948,103 shares of the company’s stock worth $350,890,000 after acquiring an additional 160,064 shares during the period. Finally, Bank of America Corp DE boosted its holdings in L3Harris by 15.3% in the 2nd quarter. Bank of America Corp DE now owns 1,759,143 shares of the company’s stock worth $298,473,000 after acquiring an additional 233,253 shares during the period. 82.28% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have weighed in on LHX shares. Morgan Stanley started coverage on L3Harris in a report on Tuesday, September 8th. They issued an “overweight” rating and a $248.00 price target for the company. Citigroup decreased their price target on L3Harris from $250.00 to $235.00 and set a “buy” rating for the company in a report on Tuesday, August 4th. Cowen assumed coverage on L3Harris in a research note on Sunday, August 2nd. They set a “buy” rating and a $240.00 target price for the company. UBS Group upgraded L3Harris from a “neutral” rating to a “buy” rating in a research note on Wednesday, September 30th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of L3Harris in a research note on Tuesday, August 11th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nineteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $240.11.

Shares of LHX opened at $174.37 on Friday. The firm has a market capitalization of $37.70 billion, a price-to-earnings ratio of 29.26, a price-to-earnings-growth ratio of 1.06 and a beta of 0.70. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.32 and a current ratio of 1.51. L3Harris has a one year low of $142.01 and a one year high of $230.99. The stock’s fifty day moving average is $178.50 and its 200-day moving average is $181.04.

L3Harris (NYSE:LHX) last announced its earnings results on Friday, July 31st. The company reported $2.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.61 by $0.22. L3Harris had a return on equity of 10.92% and a net margin of 7.21%. The business had revenue of $4.45 billion during the quarter, compared to analysts’ expectations of $4.48 billion. During the same quarter last year, the business posted $2.51 earnings per share. The company’s quarterly revenue was up 138.3% on a year-over-year basis. Analysts forecast that L3Harris will post 11.44 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 22nd. Investors of record on Wednesday, September 9th were paid a dividend of $0.85 per share. The ex-dividend date of this dividend was Tuesday, September 8th. This represents a $3.40 annualized dividend and a yield of 1.95%. L3Harris’s dividend payout ratio is currently 33.73%.

L3Harris 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.

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Institutional Ownership by Quarter for L3Harris (NYSE:LHX)

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