Brown Advisory Securities LLC decreased its position in L3Harris Technologies, Inc. (NYSE:LHX – Get Rating) by 23.3% during the first quarter, Holdings Channel reports. The firm owned 1,164 shares of the company’s stock after selling 354 shares during the quarter. Brown Advisory Securities LLC’s holdings in L3Harris Technologies were worth $288,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Checchi Capital Advisers LLC increased its position in shares of L3Harris Technologies by 13.8% during the first quarter. Checchi Capital Advisers LLC now owns 1,820 shares of the company’s stock worth $452,000 after acquiring an additional 220 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in shares of L3Harris Technologies by 8.2% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 111,590 shares of the company’s stock worth $27,727,000 after acquiring an additional 8,454 shares during the period. Great Lakes Advisors LLC increased its position in shares of L3Harris Technologies by 5.5% during the first quarter. Great Lakes Advisors LLC now owns 9,742 shares of the company’s stock worth $2,421,000 after acquiring an additional 509 shares during the period. Stiles Financial Services Inc increased its position in shares of L3Harris Technologies by 12.6% during the first quarter. Stiles Financial Services Inc now owns 1,645 shares of the company’s stock worth $409,000 after acquiring an additional 184 shares during the period. Finally, Los Angeles Capital Management LLC grew its stake in shares of L3Harris Technologies by 59.4% during the first quarter. Los Angeles Capital Management LLC now owns 1,817 shares of the company’s stock worth $451,000 after purchasing an additional 677 shares in the last quarter. Hedge funds and other institutional investors own 80.15% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages recently commented on LHX. Susquehanna lowered their target price on shares of L3Harris Technologies from $302.00 to $298.00 in a research note on Monday, May 2nd. Susquehanna Bancshares lowered their target price on shares of L3Harris Technologies from $302.00 to $298.00 in a research note on Monday, May 2nd. StockNews.com downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Friday, April 29th. Finally, Jefferies Financial Group decreased their target price on shares of L3Harris Technologies from $320.00 to $300.00 in a research note on Monday, May 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $266.20.
Insider Buying and Selling
L3Harris Technologies Trading Down 1.4 %
Shares of LHX opened at $234.58 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.28. The firm has a 50 day simple moving average of $233.73 and a 200-day simple moving average of $237.59. L3Harris Technologies, Inc. has a 1-year low of $200.71 and a 1-year high of $279.71. The stock has a market cap of $44.89 billion, a price-to-earnings ratio of 24.16, a price-to-earnings-growth ratio of 5.34 and a beta of 0.67.
L3Harris Technologies (NYSE:LHX – Get Rating) last issued its quarterly earnings data on Thursday, July 28th. The company reported $3.23 earnings per share for the quarter, topping analysts’ consensus estimates of $3.16 by $0.07. L3Harris Technologies had a net margin of 11.36% and a return on equity of 13.09%. The business had revenue of $4.14 billion during the quarter, compared to analysts’ expectations of $4.23 billion. During the same period last year, the company posted $3.26 EPS. The company’s revenue was down 11.4% on a year-over-year basis. Equities analysts forecast that L3Harris Technologies, Inc. will post 13.42 EPS for the current fiscal year.
L3Harris Technologies Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, September 16th. Investors of record on Friday, September 2nd will be given a dividend of $1.12 per share. The ex-dividend date is Thursday, September 1st. This represents a $4.48 dividend on an annualized basis and a yield of 1.91%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 46.14%.
L3Harris Technologies Profile
L3Harris Technologies, Inc, an aerospace and defense technology company, provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides multi-mission intelligence, surveillance, and reconnaissance (ISR) systems; and communication systems, as well as fleet management support, sensor development, modification, and periodic depot maintenance services for ISR and airborne missions.
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