ETRADE Capital Management LLC bought a new stake in shares of L3Harris (NYSE:LHX) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,093 shares of the company’s stock, valued at approximately $918,000.
Several other large investors have also made changes to their positions in LHX. Norges Bank purchased a new position in shares of L3Harris during the fourth quarter valued at approximately $406,936,000. Iridian Asset Management LLC CT purchased a new position in shares of L3Harris during the fourth quarter valued at approximately $152,639,000. Victory Capital Management Inc. boosted its position in shares of L3Harris by 159.0% during the fourth quarter. Victory Capital Management Inc. now owns 1,026,027 shares of the company’s stock valued at $227,091,000 after buying an additional 629,868 shares during the period. Ceredex Value Advisors LLC boosted its position in shares of L3Harris by 428.6% during the fourth quarter. Ceredex Value Advisors LLC now owns 735,326 shares of the company’s stock valued at $145,499,000 after buying an additional 596,219 shares during the period. Finally, Standard Life Aberdeen plc purchased a new position in shares of L3Harris during the fourth quarter valued at approximately $96,828,000. Institutional investors and hedge funds own 84.80% of the company’s stock.
A number of analysts recently issued reports on LHX shares. ValuEngine upgraded L3Harris from a “sell” rating to a “hold” rating in a report on Monday, March 9th. Royal Bank of Canada started coverage on L3Harris in a report on Wednesday. They issued an “outperform” rating and a $219.00 price target for the company. Zacks Investment Research lowered L3Harris from a “buy” rating to a “hold” rating and set a $184.00 price target for the company. in a report on Thursday, March 26th. Credit Suisse Group lowered their price target on L3Harris from $252.00 to $226.00 and set an “outperform” rating for the company in a report on Wednesday, May 6th. Finally, SunTrust Banks lowered their price target on L3Harris from $265.00 to $255.00 and set a “buy” rating for the company in a report on Thursday, April 16th. Three research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. L3Harris currently has a consensus rating of “Buy” and a consensus target price of $239.80.
Shares of LHX stock opened at $180.45 on Friday. The business’s fifty day simple moving average is $186.73 and its 200-day simple moving average is $198.97. The company has a market cap of $39.75 billion, a PE ratio of 17.26 and a beta of 0.77. The company has a current ratio of 1.41, a quick ratio of 1.21 and a debt-to-equity ratio of 0.32. L3Harris has a 12-month low of $142.01 and a 12-month high of $230.99.
L3Harris (NYSE:LHX) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $2.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.61 by $0.19. The business had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $4.60 billion. L3Harris had a return on equity of 13.20% and a net margin of 8.30%. The business’s quarterly revenue was up 167.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.32 earnings per share. On average, equities analysts forecast that L3Harris will post 11.31 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 16th. Stockholders of record on Tuesday, June 2nd will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date is Monday, June 1st. L3Harris’s payout ratio is presently 33.73%.
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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