Great Lakes Advisors LLC lifted its holdings in L3Harris Technologies, Inc. (NYSE:LHX – Free Report) by 0.3% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,377 shares of the company’s stock after buying an additional 66 shares during the period. Great Lakes Advisors LLC’s holdings in L3Harris Technologies were worth $3,989,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. BlackRock Inc. increased its position in shares of L3Harris Technologies by 3.2% during the 1st quarter. BlackRock Inc. now owns 15,499,913 shares of the company’s stock valued at $3,041,703,000 after purchasing an additional 480,610 shares during the last quarter. State Street Corp increased its holdings in L3Harris Technologies by 4.1% during the first quarter. State Street Corp now owns 8,691,190 shares of the company’s stock worth $1,705,558,000 after buying an additional 339,806 shares during the last quarter. Geode Capital Management LLC raised its position in L3Harris Technologies by 1.0% in the first quarter. Geode Capital Management LLC now owns 3,556,352 shares of the company’s stock worth $696,145,000 after acquiring an additional 34,726 shares during the period. FMR LLC boosted its stake in L3Harris Technologies by 22.9% in the first quarter. FMR LLC now owns 2,604,895 shares of the company’s stock valued at $511,184,000 after acquiring an additional 485,268 shares during the last quarter. Finally, Clearbridge Investments LLC grew its position in shares of L3Harris Technologies by 1.8% during the 1st quarter. Clearbridge Investments LLC now owns 2,332,482 shares of the company’s stock valued at $457,726,000 after acquiring an additional 41,845 shares during the period. 81.33% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several equities analysts have weighed in on the company. Raymond James raised L3Harris Technologies from a “market perform” rating to an “outperform” rating and set a $210.00 price objective for the company in a report on Monday, October 30th. Jefferies Financial Group dropped their price objective on shares of L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating on the stock in a report on Monday, July 31st. The Goldman Sachs Group boosted their price target on shares of L3Harris Technologies from $162.00 to $164.00 in a research report on Friday, August 11th. Citigroup started coverage on shares of L3Harris Technologies in a research note on Monday, September 11th. They set a “buy” rating and a $193.00 price target on the stock. Finally, StockNews.com upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, November 1st. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $222.75.
L3Harris Technologies Stock Up 0.4 %
LHX stock opened at $186.48 on Tuesday. The company’s 50 day moving average is $176.62 and its 200 day moving average is $183.47. The stock has a market cap of $35.35 billion, a price-to-earnings ratio of 23.97, a price-to-earnings-growth ratio of 4.19 and a beta of 0.67. The company has a current ratio of 0.88, a quick ratio of 0.69 and a debt-to-equity ratio of 0.60. L3Harris Technologies, Inc. has a 1-year low of $160.25 and a 1-year high of $230.73.
L3Harris Technologies (NYSE:LHX – Get Free Report) last issued its quarterly earnings results on Thursday, October 26th. The company reported $3.19 EPS for the quarter, topping analysts’ consensus estimates of $3.06 by $0.13. L3Harris Technologies had a net margin of 7.96% and a return on equity of 12.66%. The firm had revenue of $4.92 billion for the quarter, compared to analyst estimates of $4.95 billion. During the same quarter in the prior year, the firm earned $3.26 EPS. The business’s revenue for the quarter was up 15.8% compared to the same quarter last year. Sell-side analysts predict that L3Harris Technologies, Inc. will post 12.31 EPS for the current fiscal year.
L3Harris Technologies Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 17th will be paid a dividend of $1.14 per share. This represents a $4.56 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend is Thursday, November 16th. L3Harris Technologies’s dividend payout ratio (DPR) is currently 58.61%.
Insider Transactions at L3Harris Technologies
In related news, President Edward J. Zoiss sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $90.84, for a total transaction of $2,725,200.00. Following the transaction, the president now directly owns 31,923 shares of the company’s stock, valued at approximately $2,899,885.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.82% of the company’s stock.
About L3Harris Technologies
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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