Comerica Bank lifted its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 53.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 87,479 shares of the company’s stock after buying an additional 30,339 shares during the period. Comerica Bank’s holdings in L3Harris Technologies were worth $18,460,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Kestra Advisory Services LLC grew its stake in shares of L3Harris Technologies by 9,581.3% in the fourth quarter. Kestra Advisory Services LLC now owns 7,261 shares of the company’s stock worth $1,363,000 after purchasing an additional 7,186 shares during the last quarter. Narwhal Capital Management boosted its position in L3Harris Technologies by 27.8% during the fourth quarter. Narwhal Capital Management now owns 48,341 shares of the company’s stock valued at $9,137,000 after acquiring an additional 10,522 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in L3Harris Technologies by 465.6% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 42,420 shares of the company’s stock valued at $8,018,000 after acquiring an additional 34,920 shares during the last quarter. Exchange Traded Concepts LLC bought a new stake in L3Harris Technologies during the fourth quarter valued at $30,000. Finally, Bahl & Gaynor Inc. boosted its position in shares of L3Harris Technologies by 34.6% during the 4th quarter. Bahl & Gaynor Inc. now owns 196,106 shares of the company’s stock worth $37,068,000 after purchasing an additional 50,437 shares in the last quarter. Institutional investors own 80.58% of the company’s stock.
A number of equities analysts have recently issued reports on the stock. Cowen reissued a “buy” rating and set a $210.00 price objective on shares of L3Harris Technologies in a research report on Friday, February 5th. Jefferies Financial Group increased their price objective on shares of L3Harris Technologies from $235.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday. The Goldman Sachs Group restated a “neutral” rating and issued a $208.00 target price on shares of L3Harris Technologies in a report on Wednesday, April 14th. Benchmark restated a “hold” rating on shares of L3Harris Technologies in a report on Monday. Finally, Credit Suisse Group upped their target price on shares of L3Harris Technologies from $200.00 to $223.00 and gave the stock an “outperform” rating in a report on Monday, April 19th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. L3Harris Technologies has a consensus rating of “Buy” and a consensus target price of $226.21.
L3Harris Technologies (NYSE:LHX) last released its earnings results on Friday, April 30th. The company reported $3.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.92 by $0.26. L3Harris Technologies had a net margin of 7.18% and a return on equity of 11.29%. The firm had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.62 billion. During the same period in the prior year, the firm earned $2.80 EPS. The company’s revenue was down 1.3% compared to the same quarter last year. Equities analysts expect that L3Harris Technologies, Inc. will post 11.55 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 15th. Investors of record on Tuesday, June 1st will be given a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend is Friday, May 28th. L3Harris Technologies’s payout ratio is presently 40.48%.
L3Harris Technologies Profile
L3Harris Technologies, Inc engages in the provision of defense and commercial technologies across air, land, sea, space and cyber domains. It operates through the following segments: Integrated Mission Systems; Space and Airborne Systems; Communication Systems; and Aviation Systems. The Integrated Mission Systems segment consists of multi-mission ISR and communication systems; integrated electrical and electronic systems for maritime platforms; and advanced electro-optical and infrared solutions.
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