Boston Private Wealth LLC bought a new position in L3Harris (NYSE:LHX) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 24,007 shares of the company’s stock, valued at approximately $5,009,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Somerset Trust Co boosted its position in shares of L3Harris by 0.5% in the third quarter. Somerset Trust Co now owns 15,031 shares of the company’s stock worth $3,136,000 after acquiring an additional 76 shares during the last quarter. Carroll Financial Associates Inc. boosted its position in shares of L3Harris by 19.9% in the third quarter. Carroll Financial Associates Inc. now owns 494 shares of the company’s stock worth $103,000 after acquiring an additional 82 shares during the last quarter. Squar Milner Financial Services LLC boosted its position in shares of L3Harris by 500.0% in the third quarter. Squar Milner Financial Services LLC now owns 120 shares of the company’s stock worth $25,000 after acquiring an additional 100 shares during the last quarter. Versant Capital Management Inc boosted its position in shares of L3Harris by 246.5% in the third quarter. Versant Capital Management Inc now owns 149 shares of the company’s stock worth $31,000 after acquiring an additional 106 shares during the last quarter. Finally, Sonora Investment Management LLC acquired a new stake in shares of L3Harris in the third quarter worth approximately $26,000. 97.80% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts recently issued reports on LHX shares. Zacks Investment Research raised shares of L3Harris from a “hold” rating to a “buy” rating and set a $219.00 target price on the stock in a research report on Friday, November 1st. Jefferies Financial Group raised their target price on shares of L3Harris from $235.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Buckingham Research raised their price target on shares of L3Harris from $197.00 to $237.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Morgan Stanley started coverage on shares of L3Harris in a report on Tuesday, August 6th. They issued an “overweight” rating and a $259.00 price target on the stock. Finally, UBS Group set a $225.00 price target on shares of L3Harris and gave the company a “hold” rating in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $235.89.
In other news, CEO William M. Brown sold 106,552 shares of L3Harris stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $207.82, for a total transaction of $22,143,636.64. Also, CEO William M. Brown sold 130,000 shares of L3Harris stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $211.07, for a total transaction of $27,439,100.00. The disclosure for this sale can be found here. Insiders have sold 511,068 shares of company stock worth $108,033,097 in the last quarter. Insiders own 1.70% of the company’s stock.
LHX opened at $195.95 on Thursday. The stock has a market capitalization of $44.52 billion, a price-to-earnings ratio of 23.64, a P/E/G ratio of 2.53 and a beta of 0.91. The firm’s 50 day moving average price is $205.67. L3Harris has a 52-week low of $123.24 and a 52-week high of $217.31. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.49 and a quick ratio of 1.21.
L3Harris (NYSE:LHX) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $2.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.39 by $0.19. The company had revenue of $4.43 billion for the quarter, compared to analyst estimates of $4.43 billion. L3Harris had a net margin of 12.02% and a return on equity of 16.42%. The business’s quarterly revenue was up 187.4% compared to the same quarter last year. As a group, analysts forecast that L3Harris will post 9.97 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.53%. L3Harris’s dividend payout ratio is currently 36.19%.
L3Harris Company 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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