Coastal Investment Advisors Inc. bought a new stake in L3Harris (NYSE:LHX) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 3,693 shares of the company’s stock, valued at approximately $770,000.
A number of other institutional investors have also recently bought and sold shares of the business. Marshall Wace North America L.P. bought a new position in L3Harris in the second quarter valued at about $70,474,000. Marshall Wace LLP acquired a new stake in shares of L3Harris in the second quarter valued at about $33,411,000. Envestnet Asset Management Inc. acquired a new stake in shares of L3Harris in the third quarter valued at about $32,524,000. Panagora Asset Management Inc. acquired a new stake in shares of L3Harris in the second quarter valued at about $19,308,000. Finally, State of Alaska Department of Revenue acquired a new stake in shares of L3Harris in the third quarter valued at about $17,933,000. Hedge funds and other institutional investors own 97.80% of the company’s stock.
NYSE LHX traded up $1.14 during trading hours on Friday, hitting $196.02. 1,354,835 shares of the company’s stock were exchanged, compared to its average volume of 1,239,028. The firm has a 50-day moving average of $204.91. L3Harris has a 1-year low of $123.24 and a 1-year high of $217.31. The stock has a market cap of $42.67 billion, a price-to-earnings ratio of 23.65, a price-to-earnings-growth ratio of 2.42 and a beta of 0.91. The company has a current ratio of 1.49, a quick ratio of 1.21 and a debt-to-equity ratio of 0.31.
L3Harris (NYSE:LHX) last released its earnings results on Wednesday, October 30th. The company reported $2.58 EPS for the quarter, topping the consensus estimate of $2.39 by $0.19. L3Harris had a return on equity of 16.42% and a net margin of 12.02%. The business had revenue of $4.43 billion during the quarter, compared to analysts’ expectations of $4.43 billion. The business’s quarterly revenue was up 187.4% compared to the same quarter last year. As a group, equities research analysts forecast that L3Harris will post 9.97 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be paid a dividend of $0.75 per share. The ex-dividend date is Thursday, November 21st. This represents a $3.00 annualized dividend and a yield of 1.53%. L3Harris’s dividend payout ratio is currently 36.19%.
In other L3Harris news, CEO William M. Brown sold 106,552 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $207.82, for a total value of $22,143,636.64. Also, Director Thomas A. Dattilo acquired 1,000 shares of L3Harris stock in a transaction on Tuesday, September 10th. The stock was purchased at an average cost of $200.80 per share, with a total value of $200,800.00. Insiders have sold 511,068 shares of company stock valued at $108,033,097 in the last ninety days. 1.70% of the stock is currently owned by insiders.
Several equities research analysts have recently weighed in on the company. Barclays reissued a “buy” rating and issued a $270.00 price target on shares of L3Harris in a research note on Wednesday, October 9th. UBS Group set a $225.00 price target on L3Harris and gave the company a “hold” rating in a research note on Friday, November 1st. Cowen reissued a “buy” rating and issued a $210.00 price target on shares of L3Harris in a research note on Wednesday, October 30th. Zacks Investment Research raised L3Harris from a “hold” rating to a “buy” rating and set a $219.00 price target for the company in a research note on Friday, November 1st. Finally, SunTrust Banks increased their price target on L3Harris to $245.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eleven have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $235.89.
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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