Guardian Wealth Management Inc. Makes New Investment in L3Harris Technologies Inc $LHX

Guardian Wealth Management Inc. purchased a new position in L3Harris Technologies Inc (NYSE:LHX) in the 3rd quarter, Holdings Channel.com reports. The fund purchased 22,361 shares of the company’s stock, valued at approximately $5,295,000. L3Harris Technologies accounts for about 2.7% of Guardian Wealth Management Inc.’s investment portfolio, making the stock its 12th largest holding.

Several other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. bought a new position in shares of L3Harris Technologies during the second quarter valued at about $5,525,806,000. State Street Corp lifted its stake in shares of L3Harris Technologies by 2.9% in the 2nd quarter. State Street Corp now owns 9,097,353 shares of the company’s stock valued at $2,643,600,000 after acquiring an additional 252,662 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of L3Harris Technologies by 7.1% in the 2nd quarter. Wellington Management Group LLP now owns 4,707,086 shares of the company’s stock valued at $1,367,832,000 after acquiring an additional 313,431 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in L3Harris Technologies during the 2nd quarter valued at about $752,983,000. Finally, Bank of America Corp DE grew its position in L3Harris Technologies by 22.3% during the 1st quarter. Bank of America Corp DE now owns 1,917,732 shares of the company’s stock worth $661,905,000 after acquiring an additional 350,313 shares during the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on LHX. The Goldman Sachs Group decreased their price target on L3Harris Technologies from $405.00 to $361.00 and set a “buy” rating on the stock in a research note on Monday, October 12th. Guggenheim started coverage on shares of L3Harris Technologies in a report on Monday, September 14th. They issued a “buy” rating and a $365.00 target price on the stock. Bank of America raised their target price on shares of L3Harris Technologies from $325.00 to $375.00 and gave the stock a “buy” rating in a report on Tuesday. Jefferies Financial Group downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating and set a $315.00 target price on the stock. in a research note on Wednesday, August 26th. Finally, Royal Bank Of Canada upped their price target on shares of L3Harris Technologies from $265.00 to $295.00 and gave the company a “sector perform” rating in a report on Friday, October 30th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $345.60.

L3Harris Technologies Stock Down 6.5%

NYSE LHX opened at $259.61 on Thursday. L3Harris Technologies Inc has a 1 year low of $232.34 and a 1 year high of $379.23. The stock has a market capitalization of $48.34 billion, a PE ratio of 24.22, a PEG ratio of 1.71 and a beta of 0.47. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.20 and a quick ratio of 1.05. The business’s 50-day moving average is $250.27 and its 200 day moving average is $304.02.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, October 29th. The company reported $3.28 EPS for the quarter, beating analysts’ consensus estimates of $2.95 by $0.33. L3Harris Technologies had a return on equity of 11.49% and a net margin of 8.76%. The business had revenue of $6.07 billion during the quarter, compared to analyst estimates of $5.92 billion. During the same quarter in the prior year, the company posted $2.70 EPS. L3Harris Technologies’s quarterly revenue was up 7.1% compared to the same quarter last year. Sell-side analysts forecast that L3Harris Technologies Inc will post 11.98 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Friday, December 4th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Friday, December 4th. L3Harris Technologies’s dividend payout ratio is currently 46.64%.

L3Harris Technologies Company Profile

L3Harris Technologies, Inc is a technology and defense company that develops products and systems for government and commercial customers. Its offerings support aerospace, defense, space, communications, intelligence, surveillance and reconnaissance, electronic warfare, missile defense, and aviation missions.

The company provides secure communications equipment, tactical radios, sensors, avionics, electronic warfare systems, missile and air defense technologies, space payloads and systems, and other mission-critical solutions.